KOSPI Starts Higher... Tech Stocks Rally

On the 28th, the KOSPI index opened at 2,437.57, up 0.91% (22.04 points) from the previous trading day, as dealers were working in the Hana Bank dealing room in Euljiro, Seoul. The won-dollar exchange rate started at 1,306 won, down 7.3 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Junho Hwang] On the 5th, the KOSPI opened higher as the market capitalization leading stocks continued their strong performance.

On this day, the KOSPI started the session at 2,481.43, up 8.32 points (0.34%) from the previous close. As of 9:20 AM, the KOSPI was showing a 0.61% gain, expanding its upward momentum.

Foreign and institutional investors opened the session with net buying, while individual investors engaged in profit-taking. Foreigners and institutions showed net buying intentions worth 57.7 billion KRW and 42 billion KRW respectively, whereas individuals showed net selling intentions worth 95.7 billion KRW.

Among all listed stocks, 556 were on the rise while 244 declined. Most of the market capitalization leading stocks showed gains. Samsung Electronics, the perennial market leader, was up 0.16% at 61,600 KRW. LG Energy Solution (0.34%), SK Hynix (0.31%), and LG Chem (3.28%) also showed upward trends.

On the 4th (local time), the revival of investor sentiment toward tech stocks in the U.S. market appeared to influence the domestic market as well. The Nasdaq closed up 0.41% from the previous session.

By sector, the pharmaceuticals sector rose 2.53%, showing strength from the early session. Ildong Holdings, Pharmicell, and Green Cross all posted gains exceeding 4%.

The KOSDAQ also opened higher at 826.23, up 1.07 points (0.13%) from the previous close, and as of this time, the gain expanded to 0.61%. Individuals and institutions showed net buying intentions worth 19.2 billion KRW and 11.9 billion KRW respectively, while foreigners showed net selling intentions worth 27.4 billion KRW.

Among all KOSDAQ stocks, 766 were rising and 569 were falling. Among the market capitalization leaders, pharmaceutical stocks stood out with gains. Celltrion Healthcare (3.86%) and Celltrion Pharm (3.44%) were notable. EcoPro BM (1.48%), L&F (3.86%), and EcoPro (4.39%) were also recording gains.