Early Gains in Institutional Selling Boost Kospi... Kosdaq Widens Its Uptrend

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] On the morning of the 5th, the KOSPI index showed an upward trend as institutional buying continued in the early trading session.

As of 9:15 AM, the KOSPI index recorded 2318.96, up 18.62 points (0.81%) compared to the previous trading day. It started trading at 2322.11, up 21.77 points (0.95%) from the previous day. While institutions led the index rise by purchasing about 78.4 billion KRW worth of stocks, individuals and foreigners sold net amounts of approximately 52.3 billion KRW and 27.9 billion KRW, respectively.

At the same time, the KOSDAQ index rose 12.04 points (1.67%) from the previous trading day to 734.77. The KOSDAQ index began trading at 729.40, up 6.67 points (0.92%), and then the gains widened. Although individuals sold a net amount of about 18.4 billion KRW, foreigners and institutions bought net amounts of approximately 7.1 billion KRW and 13.2 billion KRW, respectively.

Na Jung-hwan, a researcher at Cape Investment & Securities, explained, "Most of the recently compiled economic indicators are slowing down. While it is difficult to expect positive news, the rapid onset of a recession means that the easing of inflationary pressures due to demand slowdown can be viewed positively."