Foreigner 'Saja' Boosts KOSPI... Samsung Electronics Up 2.8% After 2Q Earnings Announcement

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI index is showing an upward trend on the 7th due to foreign buying pressure. Samsung Electronics, which announced its preliminary Q2 earnings this year, rose nearly 3%.

As of 9:32 a.m. on the day, the KOSPI index recorded 2,321.21, up 29.20 points (1.27%) from the previous trading day. The previous trading day saw the KOSPI close below the 2,300 level for the first time in 1 year and 8 months, but it is rising today due to foreign buying. Foreigners purchased about 39.9 billion KRW worth, leading the index increase, while individuals and institutions sold net amounts of 33.1 billion KRW and 5.9 billion KRW respectively.

Among the top market capitalization stocks, all showed gains. Samsung Electronics, ranked first in market cap and expected to determine stock direction due to its Q2 preliminary earnings announcement, rose 2.84%. Samsung Electronics disclosed that its consolidated Q2 sales were 77 trillion KRW, up 20.94% from the same period last year, and operating profit was 14 trillion KRW, an increase of 11.38%, according to preliminary estimates. Q2 sales marked a record high, and operating profit was the third highest ever. Additionally, LG Chem rose 4.55%, recording the largest gain, followed by Samsung SDI (3.45%), SK Hynix (2.82%), NAVER (0.82%), Samsung Biologics (0.62%), Hyundai Motor (0.58%), Kakao (0.41%), LG Energy Solution (0.27%), and Kia (0.27%).

By sector, the electrical and electronics sector rose 2.39%, medical precision 2.08%, textiles and apparel 2.04%, chemicals 1.97%, and machinery 1.87%. Telecommunications (-0.24%), finance (-0.18%), and insurance (-0.18%) declined.

At the same time, the KOSDAQ index recorded 755.83, up 11.20 points (1.50%) from the previous trading day. The previous trading day saw the KOSDAQ fall 6.32 points (0.84%) to close at 744.63, but it recovered above the 750 level today. Individuals net bought about 52.4 billion KRW, while foreigners and institutions net sold about 34.5 billion KRW and 16.5 billion KRW respectively.

Among the top market cap stocks, Seegene rose 4.57%, overtaking Cheonbo (2.53%) to rank 10th in market capitalization. This was followed by EcoPro BM (3.13%), Kakao Games (1.52%), Pearl Abyss (0.97%), L&F (0.66%), and Celltrion Healthcare (0.12%). On the other hand, Alteogen (-1.44%), HLB (-1.40%), Studio Dragon (-0.83%), and Celltrion Pharm (-0.61%) showed weakness.