KOSPI Rises on Institutional Buying... Individuals Are 'Buyers' in KOSDAQ

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] On the morning of the 23rd, the KOSPI is showing an upward trend driven by institutional buying.

As of 9:41 a.m., the KOSPI index is at 2,652.28, up 12.99 points (0.49%) compared to the previous trading day. The KOSPI started at 2,651.63, up 12.34 points (0.47%) from the previous day, and has maintained its upward trend since. Institutions are leading the index rise with net purchases of about 34 billion KRW, while individuals and foreigners are net selling approximately 18.6 billion KRW and 15.4 billion KRW, respectively.

Most of the top market capitalization stocks are rising. Samsung Biologics rose 1.36%, recording the largest gain. Following were LG Energy Solution (1.15%), SK Hynix (0.89%), Samsung SDI (0.83%), Naver (0.55%), Hyundai Motor (0.54%), Samsung Electronics (0.44%), and LG Chem (0.37%). Kia (-0.48%) and Kakao (-0.12%) were weak.

By sector, pharmaceuticals (2.15%) are showing strength. Banks (1.01%), electrical and electronics (0.80%), machinery (0.68%), and manufacturing (0.66%) also rose. Textile and apparel (-1.54%), non-metallic minerals (-0.92%), construction (-0.48%), and electric and gas utilities (-0.36%) declined.

Seojung-hoon, a researcher at Samsung Securities, explained, "In the domestic stock market, valuation burdens have recently significantly decreased, so volatility is expected to be more limited compared to other markets. Selective interest in sectors expected to show earnings improvement, such as automobiles, chemicals, and electrical and electronics, is effective."

At the same time, the KOSDAQ index rose 3.58 points (0.41%) from the previous session to 883.46. Individuals were net buyers of about 81.5 billion KRW, while foreigners and institutions were net sellers of approximately 62.9 billion KRW and 18.1 billion KRW, respectively.

Among the top market capitalization stocks, Wemade (3.12%), Celltrion Pharm (2.88%), Celltrion Healthcare (2.09%), EcoPro BM (1.01%), L&F (0.15%), and Rino Industrial (0.35%) rose. HLB (-4.03%), Kakao Games (-1.70%), Chunbo (-1.20%), and Pearl Abyss (-0.17%) were weak.