Afternoon KOSPI Trades Around 2640... Institutions Are the Only Net Buyers

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI, which showed an increase of around 0.4% in early trading, is showing mixed trends with repeated rises and falls.

As of 1:43 PM on the 23rd, the KOSPI was trading at 2640.36, up 0.04% (1.07 points) from the previous trading day. The KOSPI started the day at 2651.63, up 0.47% (12.34 points) from the previous day, but has been fluctuating and showing mixed trends. Looking at investor trends, foreigners and individuals sold stocks worth 24 billion KRW and 62.5 billion KRW respectively. Institutions alone bought stocks worth 69.5 billion KRW.

By sector, the pharmaceutical (1.5%), transportation and warehousing (0.79%), and securities (0.42%) sectors continued their upward trends. Among the pharmaceutical sector, Pharmicell (11.5%) maintained its strong performance. The market's interest was drawn to Pharmicell, which produces smallpox (variola) treatment drugs, as monkeypox infections surged. In the transportation and warehousing sector, HMM (4.1%) and Korea Shipping (2.1%) showed strength influenced by the rising shipping freight index.

Among the top market capitalization stocks, LG Energy Solution (0.46%), Samsung Biologics (0.74%), NAVER (0.36%), Samsung SDI (0.83%), and Hyundai Motor (0.27%) rose, while SK Hynix (-0.44%), LG Chem (-0.55%), and Kakao (-0.12%) declined. Samsung Electronics traded at 68,000 KRW, the same as the previous day's closing price.

Seojung-hoon, a researcher at Samsung Securities, explained, "Despite the New York stock market showing high volatility last Friday due to options expiration, the domestic market is showing limited volatility as valuation burdens have eased. With ongoing inflation issues, investors' attention will be focused on the US April Personal Consumption Expenditures (PCE) price index scheduled to be announced this Friday."

At the same time, the KOSDAQ index was at 882.20, up 0.26% (2.32 points) from the previous trading day. The KOSDAQ started the day at 883.78, up 0.44% (3.90 points) from the previous day, and has maintained an upward trend. Looking at investor trends, individuals were the sole net buyers. Individuals bought stocks worth 201.8 billion KRW, while foreigners and institutions sold stocks worth 116.5 billion KRW and 73.6 billion KRW respectively.

By sector, pharmaceuticals (1.82%), medical precision instruments (1.6%), and communication services (1.43%) showed the largest gains. Among the pharmaceutical sector, Medipost (5.4%) and Biosolution (5%) showed strong performance. Medipost's focus on global clinical trials for knee osteoarthritis treatment was a positive factor.

Among the top market capitalization stocks, EcoPro BM (0.12%), L&F (0.33%), Celltrion Healthcare (2.09%), Pearl Abyss (0.33%), Celltrion Pharm (2.22%), and Wemade (7.23%) showed upward trends. On the other hand, HLB (-4.42%), Kakao Games (-0.85%), Chunbo (-1.45%), and Lino Industrial (-0.65%) declined.