Foreigners' Net Buying Drives KOSPI Up 0.2% in Morning Session

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI continues its upward trend, supported by net buying from foreign investors.

As of 10:31 a.m. on the 24th, the KOSPI stood at 2440.83, up 0.23% (5.49 points) from the previous trading day. The KOSPI opened the day at 2446.18, up 0.45% (10.84 points) from the previous day, maintaining its upward momentum.

The won-dollar exchange rate opened at 1339.5 won, down 6 won from the previous trading day (1345.5 won), and is currently trading below 1340 won. In terms of investment trends, foreign investors bought stocks worth 71 billion won, while individuals and institutions sold stocks worth 26.8 billion won and 44.1 billion won, respectively.

The domestic stock market showed an upward trend due to a rebound buying trend. Until the previous day, the domestic market had been sluggish due to the sharp decline in the U.S. stock market caused by heightened caution ahead of the Jackson Hole meeting, but it showed an upward trend today. Ji-young Han, a researcher at Kiwoom Securities, explained, "The market is expected to rebound, supported by the perception of excessive decline and the easing of the continuous sharp drop in the U.S. Nasdaq."

By sector, retail (1.34%), paper & wood (1.26%), non-metallic minerals (1.23%), and food & beverages (1.15%) rose in order. Among individual stocks, LX International showed an increase of over 4%, expected to improve earnings due to the weak won. In the paper and wood sector, Murim P&P (8.49%) and Murim Paper (4.3%) also showed an upward trend on expectations of earnings improvement.

Among the top market capitalization stocks, Samsung Electronics traded at 59,200 won, up 0.17% from the previous trading day. LG Energy Solution (0.22%), SK Hynix (0.11%), Samsung SDI (1.7%), and NAVER (0.21%) rose, while Samsung Biologics (-0.12%), LG Chem (-1.94%), Hyundai Motor (-1.06%), and Kakao (-0.53%) declined.

At the same time, the KOSDAQ index stood at 786.62, up 0.41% (3.20 points) from the previous trading day. The KOSDAQ index opened at 788.36, up 0.63% (4.94 points) from the previous day, rising nearly 1%, but the gains have since narrowed. In the market, individuals and institutions bought stocks worth 39.9 billion won and 5 billion won, respectively, while foreign investors sold stocks worth 39.6 billion won alone.

Among the top market capitalization stocks, Celltrion Healthcare (0.42%), EcoPro BM (1.43%), L&F (0.3%), HLB (1.15%), Celltrion Pharm (0.13%), and Alteogen (0.47%) rose, while Kakao Games (-1.88%), Pearl Abyss (-0.89%), EcoPro (-0.54%), and Chunbo (-1.77%) declined.