Impact of US Stock Market Rise... KOSPI and KOSDAQ Show Strong Early Gains

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices started the session with strong upward momentum.

At 9:12 a.m. on the 2nd, the KOSPI was at 2471.44, up 0.41% (9.99 points) compared to the previous trading day. The KOSPI opened at 2478.44, up 0.69% (16.99 points) from the previous day. Looking at investment trends, individual investors alone bought stocks worth 54.232 billion KRW, while foreigners and institutions sold stocks worth 7.1 billion KRW and 48.9 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics traded at 61,400 KRW, up 0.16% from the previous day. LG Energy Solution (1.26%), Samsung Biologics (0.11%), NAVER (1.3%), Samsung SDI (0.68%), Kakao (2.63%), and Kia (0.37%) also rose.

At the same time, the index was at 822.60, up 0.88% (7.28 points) from the previous day. The KOSDAQ index opened at 820.06, up 0.58% (4.70 points) from the previous day. Looking at investment trends, individual investors alone bought stocks worth 30.1 billion KRW, while foreigners and institutions sold stocks worth 19.7 billion KRW and 6 billion KRW, respectively.

Among the top market capitalization stocks, EcoPro BM (1.33%), Celltrion Healthcare (0.28%), L&F (0.73%), HLB (4.64%), Pearl Abyss (0.17%), Celltrion Pharm (0.97%), Alteogen (5.23%), and Chunbo (0.04%) rose, while EcoPro (-0.25%) declined.

Han Ji-young, a researcher at Kiwoom Securities, said, “The US-China conflict, which had been a burden on the stock market, is entering a short-term lull phase following House Speaker Pelosi’s safe departure from Taiwan,” adding, “Given the strong performance of tech stocks, a steady price trend is expected for growth stocks including domestic IT.”