[Asia Economy Reporter Lee Myunghwan] On the 21st, the KOSPI rebounded to the 2400 level, showing a nearly 1% increase fueled by net buying from foreigners. It was the first time in 17 trading days since the 28th of last month that the KOSPI closed above 2400. The KOSDAQ index also closed in the 790s, approaching the 800 level.
On that day, the KOSPI closed at 2409.16, up 0.93% (22.31 points) from the previous trading day. The index started at 2387.91, up 0.04% (1.06 points) from the previous day, and sharply increased its upward momentum in the afternoon. Foreigners were the sole net buyers in the KOSPI market, purchasing 439.9 billion KRW worth of stocks, driving the index higher. Individuals and institutions sold 332.3 billion KRW and 110.8 billion KRW worth of stocks, respectively.
Kim Seokhwan, a researcher at Mirae Asset Securities, analyzed the domestic stock market on the 21st, saying, "There has been an expansion of foreign buying in both the KOSPI and futures markets." He added, "The previous day’s U.S. stock market rose mainly in semiconductor and software technology stocks, and the passage of the U.S. Senate vote on the semiconductor support bill positively influenced the semiconductor sector’s strength, which contributed favorably to the index rise."
Most of the top market capitalization stocks also closed higher. LG Chem saw a significant increase, closing at 569,000 KRW, up 5.37% (29,000 KRW) from the previous day. Other secondary battery-related stocks such as LG Energy Solution (1.69%) and Samsung SDI (1.43%) also rose. Tesla’s strong earnings report the day before appears to have restored overall investor sentiment in secondary battery stocks. Semiconductor stocks like Samsung Electronics (2.15%) and SK Hynix (0.49%) also closed higher. Additionally, Naver (1.83%) and Kia (0.49%) rose. Samsung Biologics was the only stock to fall, down 0.73% from the previous day. Hyundai Motor closed unchanged at 189,000 KRW.
By sector, electronics (1.71%), paper and wood (1.58%), and chemicals (1.48%) rose, along with retail (1.27%). Researcher Kim explained, "The possibility of abolishing mandatory closures for large discount stores highlighted, leading to strength in retail sectors such as Emart and Lotte Shopping." On the other hand, medical precision (-3.72%) and pharmaceuticals (-1.57%) declined.
The KOSDAQ index closed at 795.15, up 0.56% (4.43 points) from the previous day. It started the day at 792.95, up 0.28% (2.33 points), gradually increasing its upward trend. By investor type, individuals and institutions were net buyers of 45.6 billion KRW and 34.9 billion KRW, respectively, while foreigners sold 71.7 billion KRW.
Among the top market capitalization stocks on KOSDAQ, secondary battery-related stocks showed notable gains. EcoPro BM, the largest KOSDAQ stock by market cap, closed at 115,000 KRW, up 4.64% (5,100 KRW) from the previous day. Other secondary battery stocks such as L&F (2.09%) and Chunbo (0.18%) also rose. Entertainment-related stocks like Pearl Abyss (1.14%), Studio Dragon (0.65%), and Kakao Games (0.19%) increased as well. Pharmaceutical-related stocks such as Celltrion Healthcare (-2.40%) and HLB (-2.49%) declined.
By sector on KOSDAQ, publishing and media duplication (2.93%), general electronics (2.42%), software (2.25%), and semiconductors (1.99%) rose. Pharmaceuticals (-1.79%), distribution (-1.31%), and food and tobacco (-1.16%) declined.
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