KOSPI Slightly Rises on Institutional 'Buying'... KOSDAQ Up on Individual Buying Pressure

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] On the 23rd, the KOSPI is showing a slight rise despite simultaneous selling by individuals and foreigners, supported by institutional buying.

As of 11:25 AM, the KOSPI index recorded 2639.72, up 0.43 points (0.02%) compared to the previous trading day. The KOSPI opened at 2651.63, up 12.34 points (0.47%) from the previous day, and during the session rose as high as 2653.70 before giving back some gains. Individuals and foreigners net sold approximately 20.8 billion KRW and 27 billion KRW respectively, while institutions net bought about 34.6 billion KRW, defending the index from falling.

Among the top market capitalization stocks, Samsung Biologics (1.11%) recorded the largest gain. This was followed by Naver (NAVER) (0.73%), Hyundai Motor (0.54%), LG Energy Solution (0.46%), LG Chem (0.37%), Samsung SDI (0.33%), and Kakao (0.24%). Kia (-0.48%), SK Hynix (-0.44%), and Samsung Electronics (-0.15%) showed declines.

By sector, pharmaceuticals (1.62%) showed strong performance. Transportation and warehousing (0.45%) and securities (0.38%) also rose. Meanwhile, textiles and apparel (-2.74%), non-metallic minerals (-1.64%), electric and gas utilities (-0.92%), construction (-0.83%), and telecommunications (-0.56%) declined.

Seo Sang-young, a researcher at Mirae Asset Securities, explained, "Although there are positive factors such as the easing of China's lockdown, the issue of economic recession still exists. It seems the bottom has been confirmed, but more time is needed to verify this."

At the same time, the KOSDAQ index rose 0.41 points (0.05%) to 880.29 compared to the previous session. Individuals net bought about 191.9 billion KRW, while foreigners and institutions net sold approximately 119.2 billion KRW and 68.2 billion KRW respectively.

Among the top market capitalization stocks, Wemade rose the most, up 6.52%. This was followed by Celltrion Healthcare (1.74%), Celltrion Pharm (1.70%), and Pearl Abyss (1.33%). HLB (-5.40%), Cheonbo (-1.94%), L&F (-0.91%), EcoPro BM (-0.85%), Lino Industrial (-0.82%), and Kakao Games (-0.68%) showed weakness.