KOSPI Rises After Battling Around 2400 Level... Foreigners Resume Buying Futures

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] The KOSPI index, which had been struggling to maintain the 2400 level, is showing an upward trend again in the afternoon. The rise continues as foreign investors switch to 'buying' in the futures market. On the other hand, the KOSDAQ continues to decline due to sustained foreign selling pressure.

As of 1:17 PM on the 28th, the KOSPI is trading at 2404.44, up 0.10% (2.52 points) from the previous day. The KOSPI opened at 2405.20, up 0.14% for the day, but fell to 2393.96 during the session, turning negative before showing signs of recovery.

Individual investors are solely driving the index with net purchases of 237.2 billion KRW. Foreigners and institutions are net sellers with 120.3 billion KRW and 130.6 billion KRW respectively. However, foreigners and institutions are buying 30.5 billion KRW and 1.4 billion KRW respectively in the futures market.

Among the top 10 market capitalization stocks, LG Energy Solution (-0.73%), SK Hynix (-0.42%), and Kakao (-1.53%) are declining. Naver has turned neutral. The rest are showing gains, with Hyundai Motor (+1.37%) and LG Chem (+1.28%) standing out.

[Image source=Yonhap News]

Looking at sector performance, the electric and gas industry (-2.00%) shows the largest decline. This is followed by securities (-0.82%), services (-0.77%), telecommunications (-0.47%), food and beverage (-0.28%), and finance (-0.21%).

As of 1:23 PM, the KOSDAQ is down 0.79% (6.06 points) from the previous day, standing at 764.54. Similar to the morning session, foreigners and institutions are net sellers of 270.6 billion KRW and 19.5 billion KRW respectively, pulling the index down. Meanwhile, individual investors are net buyers with 293.8 billion KRW.

Among the top 10 market capitalization stocks, only L&F (+1.80%) is rising. EcoPro BM (-6.92%), which surged sharply the previous day, has the highest decline rate, and Celltrion Healthcare (-2.34%) also shows a notable drop.

Sector-wise, general electric and electronics (-3.53%) has the largest decline, followed by entertainment/culture (-2.08%), food and tobacco (-1.81%), distribution (-1.28%), semiconductors (-1.16%), and pharmaceuticals (-1.14%).

In the KOSDAQ market, SK 5th SPAC is hitting the upper price limit.