KOSPI Starts Higher Following US Stock Market Gains

[Asia Economy Reporter Junho Hwang] On the 9th, the stock market opened higher, buoyed by the rise in the US stock market.

As of 9:22 a.m. that day, the KOSPI was at 2408, up 0.41% (9.84 points) from the previous session. The KOSPI started at 2408.54, up 9.50 points, and has maintained an upward trend since. Among the trading participants, net buying by institutions stands out, with net purchases of 58.5 billion KRW at this time. On the other hand, individuals and foreigners are net selling, with 34.5 billion KRW and 21 billion KRW respectively.

Among all stocks, 567 are rising. The top market capitalization stocks show mixed fortunes depending on the stock. The top two stocks by market cap, Samsung Electronics and LG Energy Solution, are showing a flat trend as foreign demand has slowed compared to the previous day. Meanwhile, NAVER is showing strength, rising 2.25% to 181,500 KRW from the start of trading. Following are Samsung SDI, LG Chem, Hyundai Motor, Kia, and others, which are also on an upward curve.

By sector, medical precision (2.85%), steel and metals (1.85%), and electricity and gas (1.82%) are strong. Within the medical precision sector, SD Biosensor (4.19%), Woojin (1.84%), and Mirae Industry (1.77%) are leading the sector's rise.

The KOSDAQ also started at 715.19, up 0.26% (1.86 points) from the previous session, and is currently up 0.28%. Individuals have driven the KOSDAQ's rise with net purchases of 45.1 billion KRW since early trading. Conversely, foreigners and institutions are net selling, with 34.1 billion KRW and 9.6 billion KRW respectively.

Most of the top market capitalization stocks are weak. Kakao Games, Cheonbo, and Lino Industrial showed gains in the 1% range, but the top three stocks by market cap?Celltrion Healthcare, EcoPro BM, and L&F?are all declining.

By sector, broadcasting services and telecommunications broadcasting sectors are recording gains of over 2%. Within the broadcasting services sector, YTN is leading the overall sector's rise with a gain of over 20%. This rise is analyzed to be due to news that the Ministry of Strategy and Finance's Public Institution Management Committee, meeting on the 11th, will announce the sale of YTN shares held by KEPCO KDN and Korea Racing Authority.

Sangyoung Seo, a researcher at Mirae Asset Securities, analyzed, "The won-dollar exchange rate started down about 10 won, indicating a continued won strength trend, which is a positive factor for foreign demand." He added, "The Philadelphia Semiconductor Index rose 2.15%, which is favorable for foreign demand that is net buying mainly related stocks."