The Struggling Rise of KOSPI... Sluggish Performance of Top 1-2 Market Caps

On the 8th, the KOSPI index opened at 2,633.53, up 7.19 points (0.27%), as dealers were busy working in the Hana Bank dealing room in Euljiro, Seoul. The won-dollar exchange rate started at 1,255.0 won, down 2.7 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Junho Hwang] On the morning of the 7th, the KOSPI is showing a struggling upward trend as the market continues to be stock-specific despite the sluggishness of the top market capitalization stocks.

As of 10:46 a.m. that day, the KOSPI was at 2635.72, up 0.36% from the previous session. While individual investors were net buyers worth 103.5 billion KRW, foreign investors and institutions showed net selling intentions of 81.8 billion KRW and 35.3 billion KRW respectively, causing the index to trace an upward curve.

Among all stocks, 457 stocks are on the rise. Samsung Electronics remained flat compared to the previous day, and LG Energy Solution showed a decline of -0.12%, indicating weakness in the top 1 and 2 KOSPI stocks. However, SK Hynix rose 1.92%, Samsung Biologics 1.09%, LG Chem 5.04%, and Samsung SDI 2.43%, showing relatively large gains.

By sector, the electric and gas industry rose the most, up 1.83%. Following news that natural gas prices hit a record high, Korea Gas Corporation rose 3.26%, and SGC Energy also increased by 2.06%. Besides electric and gas, pharmaceuticals (1.45%), distribution (1.21%), and chemicals (1.19%) also stood out.

The KOSDAQ recorded 878.75, up 0.57%. Early in the session, individual investors showed net buying, but later turned to net selling worth 13.1 billion KRW, while institutions showed net buying intentions of 28.1 billion KRW. Foreign investors continued their net selling intentions (13.1 billion KRW) from the previous day.

Among all stocks, 726 stocks are on the rise, and most of the top market capitalization stocks are showing gains. This includes EcoPro BM (0.96%), Celltrion Healthcare (2.66%), and L&F (0.87%).