KOSPI Rises Early Amid Holiday Optimism... Individuals and Institutions 'Buy'

[Image source=Yonhap News]

[Asia Economy Reporter Lee Myunghwan] On the 16th, the KOSPI started off on an upward trend. This is interpreted as reflecting positive factors such as the previous day’s rise in the New York stock market and the major global stock markets closing higher during the Liberation Day holiday period. Individual investors are leading the index increase by net buying in both the KOSPI and KOSDAQ markets.

As of 9:15 a.m., the KOSPI is at 2,535.01, up 0.28% (7.07 points) from the previous trading day. The KOSPI opened at 2,543.05, up 0.60% (15.11 points), and has since slightly eased its gains. By investor type, individuals and institutions are buying 29.7 billion KRW and 23.3 billion KRW worth of stocks respectively, while foreigners are the only sellers with net sales of 52.2 billion KRW.

Many of the top market capitalization stocks are also on the rise. SK Hynix stands out with a 1.82% (1,700 KRW) increase, trading at 95,000 KRW compared to the previous day. Samsung Electronics (0.50%), LG Energy Solution (0.54%), Samsung Electronics Preferred (0.73%), Samsung SDI (0.96%), and Hyundai Motor (0.51%) are also rising. On the other hand, Kakao has fallen sharply by 1.82%.

At the same time, the KOSDAQ index is at 832.65, up 0.12% (1.02 points) from the previous day. The KOSDAQ opened at 835.20, up 0.43% (3.57 points), but its upward momentum has somewhat softened. By investor type, individuals are the sole net buyers with 29.9 billion KRW worth of purchases, while foreigners and institutions are selling 26.0 billion KRW and 4.5 billion KRW worth respectively.

Among the top market capitalization stocks in KOSDAQ, all but three are on the rise. Ecopro (1.50%) and Celltrion Healthcare (1.16%) show gains above 1%, while Kakao Games (0.68%), Celltrion Pharm (0.68%), Pearl Abyss (0.53%), and Chunbo (0.51%) are also rising. HLB (-1.65%) and Alteogen (-0.97%) are declining. Ecopro BM is trading at the same price as the previous day, 118,500 KRW.

Today’s domestic stock market is expected to reflect external positive factors while showing varied trends across sectors. Han Ji-young, a researcher at Kiwoom Securities, said, "With the easing of expected inflation in the U.S. and continuous rises in major global stock markets centered on the Nasdaq, the market is expected to show an upward trend as it absorbs external positive factors that were not reflected during the holiday period." She added, "Considering the decline in international oil prices and weak Chinese real economy indicators, the price momentum will be differentiated among energy stocks, Chinese consumer-related stocks, inflation-affected stocks, and growth stocks."