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US Stock Market Gains... KOSPI Rises Over 1% on Net Buying by Foreigners and Institutions

US Stock Market Gains... KOSPI Rises Over 1% on Net Buying by Foreigners and Institutions [Image source=Yonhap News]


[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices are maintaining an upward trend, influenced by the rise in the U.S. stock market.


As of 10:48 AM on the 27th, the KOSPI stood at 2,637.66, up 0.96% (25.21 points) compared to the previous trading day. The index started the session strongly, rising 1.08% (28.30 points) to 2,640.75, and continued its upward momentum. In the market, foreigners and institutions bought stocks worth 48 billion KRW and 280.8 billion KRW respectively, while individuals sold stocks worth 325.2 billion KRW alone.


By sector, insurance (1.91%), chemicals (1.82%), and transportation and warehousing (1.53%) showed the largest gains. Due to the impact of interest rate hikes, Hanwha General Insurance (4.8%), Hyundai Marine & Fire Insurance (4.6%), DB Insurance (2.8%), and Heungkuk Fire & Marine Insurance (2.7%) recorded significant increases.


Looking at the top market capitalization stocks, most showed gains. Samsung Electronics traded up 1.06% at 66,600 KRW. SK Hynix (2.91%), NAVER (1.13%), Samsung SDI (1.20%), Hyundai Motor (0.82%), LG Chem (3.93%), and Kakao (0.49%) rose, while Samsung Biologics (-0.95%) declined.


Seojung Hoon, a researcher at Samsung Securities, said, “Support for the KOSPI 2600 level is confirmed. The downside risk is low at the current level, and as stock rotation is progressing rapidly by individual stocks, investors should be cautious about portfolio diversification.”


At the same time, the KOSDAQ index stood at 876.72, up 0.61% (5.29 points) compared to the previous trading day. The index started the day at 881.41, up 1.15% (9.98 points), and continued its upward trend. Regarding investment trends, individuals and institutions bought stocks worth 92.1 billion KRW and 30 billion KRW respectively, while foreigners sold stocks worth 124.4 billion KRW alone.


Among the top market capitalization stocks, Ecopro BM (1.18%), Celltrion Healthcare (1.16%), HLB (0.3%), Celltrion Pharm (1.01%), and Wemade (0.13%) rose, while L&F (-1.33%), Kakao Games (-0.5%), Pearl Abyss (0.48%), and Rino Industries (-1.93%) declined.


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