As Foreigners and Institutions Return, KOSPI Rises Over 1%

KOSDAQ Index Rises Over 2.2%, Recovers 700 Level
Most Top Market Cap Sectors Rise

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices are showing strong upward momentum due to net buying by foreigners and institutions.

As of 11:07 AM on the 6th, the KOSPI stood at 2240.70, up 1.15% (25.48 points) compared to the previous trading day. The index opened at 2230.43, up 0.69% (15.21 points) from the previous day, and has maintained its upward trend. Currently, foreigners and institutions are increasing their net buying. Foreigners purchased stocks worth 84 billion KRW, while institutions bought stocks worth 41.5 billion KRW.

By sector, non-metallic minerals rose notably by 4.94%. Looking at specific stocks, Korea Petroleum surged over 10% supported by strong oil prices, and POSCO Chemical jumped 7% amid expectations of benefits from the Inflation Reduction Act (IRA) and improved earnings. Other sectors showing notable gains included paper and wood (4.36%), machinery (2.05%), and electrical and electronics (1.77%).

Among the top market capitalization stocks, most showed gains. Samsung Electronics and SK Hynix rose 1.25% and 0.78%, respectively, maintaining their upward trend. LG Energy Solution (3.20%), Samsung Biologics (0.25%), LG Chem (3.21%), Samsung SDI (2.99%), Hyundai Motor (0.28%), and NAVER (1.83%) also increased. Only Kia fell by 0.14%.

At the same time, the KOSDAQ index stood at 701.04, up 2.29% (15.70 points) from the previous trading day. The index opened at 690.48, up 0.75% (5.14 points), showing strong upward momentum. In the KOSDAQ market, individuals alone sold stocks worth 89.3 billion KRW, maintaining net selling, while foreigners and institutions bought stocks worth 72.5 billion KRW and 21.8 billion KRW, respectively.

The top market capitalization stocks showed a different pattern from the previous day. Ecopro BM (4.27%) and L&F (7.08%) surged sharply on expectations of improved earnings, while HLB (0.92%), Kakao Games (0.96%), Ecopro (5.37%), Pearl Abyss (2.01%), Celltrion Pharm (1.58%), and Lino Industrial (3.35%) all rose.