Foreigners Return, KOSDAQ Closes Up Over 3%

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI closed higher due to strong net buying by foreigners. The KOSDAQ index rose more than 3% as institutions also showed net buying.

On the 6th, the KOSPI closed at 2,237.86, up 1.02% (22.64 points) from the previous trading day. The index started the day at 2,230.43, up 0.69% (15.21 points) from the previous day, and ended the session with a 1% gain as foreigners showed strong net buying. Looking at investor trends, foreigners alone bought stocks worth 253.4 billion KRW, while individuals and institutions sold stocks worth 185.2 billion KRW and 74.9 billion KRW, respectively.

Lee Kyung-min, a researcher at Daishin Securities, said, "As the won-dollar exchange rate deviated from 1,400 KRW, favorable conditions were created for foreign demand," adding, "Foreigners increased net buying in the semiconductor sector among large-cap stocks, while institutions focused their net buying on secondary battery stocks."

By sector, non-metallic minerals (5.14%) and paper & wood (4.23%) showed notable gains. In the non-metallic minerals sector, Korea Petroleum rose 7.7% as oil prices increased following OPEC+'s production cut decision, and Posco Chemical jumped over 7% as institutional funds flowed in significantly. In the paper & wood sector, Moorim Paper (27.8%) and Moorim P&P (5.9%) surged, with news of price hikes to pass on cost burdens interpreted as positive factors.

Top market capitalization stocks all closed higher. Samsung Electronics and SK Hynix rose 0.54% and 0.11%, respectively, marking three consecutive days of gains, buoyed by expectations of semiconductor industry improvement and Morgan Stanley's overweight report. LG Energy Solution (1.92%), Samsung Biologics (0.62%), LG Chem (4.11%), Samsung SDI (2.81%), Hyundai Motor (0.56%), NAVER (1.83%), and Kakao (0.55%) also rose.

At the same time, the KOSDAQ index closed at 706.01, up 3.02% (20.67 points) from the previous day. The index started at 690.48, up 0.75% (5.14 points), and maintained an upward trend throughout the session. This was thanks to foreigners and institutions buying stocks worth 133.5 billion KRW and 113.2 billion KRW, respectively. Individuals sold stocks worth 242.4 billion KRW alone.

Top market capitalization stocks in the KOSDAQ market also showed significant gains. Ecopro BM (5.8%) and L&F (8.64%) surged on expectations of improved earnings, while HLB (2.65%), Kakao Games (0.24%), Ecopro (7.31%), Pearl Abyss (2.35%), Celltrion Pharm (1.58%), Rino Industrial (7.01%), and Studio Dragon (2.59%) all rose. With secondary battery-related stocks rising sharply, the IT components (5.02%) and general electric & electronics (4.79%) sectors posted the highest gains.