Employees are working in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Hyunmin Kim kimhyun81@
[Asia Economy Reporter Hwang Yoon-joo] The KOSPI index closed higher at the 2380 level, supported by foreign buying.
On the 19th, the KOSPI rose 0.51% (12.02 points) from the previous day to close at 2380.34. The index started the day down 0.58% (13.76 points) at 2354.56 but rebounded as foreign demand strengthened.
Foreigners were net buyers of 572.1 billion KRW. Individuals and institutions were net sellers of 260.1 billion KRW and 314.5 billion KRW, respectively. In the futures market, individuals and foreigners bought 50.9 billion KRW and 564.1 billion KRW, respectively, while institutions alone sold 564.7 billion KRW.
Among the top 10 KOSPI stocks by market capitalization, Samsung Electronics (+1.82%), SK Hynix (+0.47%), Samsung Biologics (+1.01%), LG Chem (+1.31%), and NAVER (+0.26%) closed higher. Conversely, LG Energy Solution (-0.44%), Samsung SDI (-0.49%), Hyundai Motor (-0.30%), Kakao (-1.30%), and Kia (-0.62%) declined.
Lee Kyung-min, a researcher at Daishin Securities, said, "The market started lower due to worsening economic concerns from weak U.S. December real economy indicators and hawkish remarks from Federal Reserve officials, but turned higher with foreign capital inflows. The rise in KOSPI was essentially led by Samsung Electronics alone."
He added, "While the KOSPI rose about 4.7 points, Samsung Electronics contributed a higher 6 points, and LG Energy Solution offset some of Samsung Electronics' contribution with -1.6 points, showing that these two stocks largely influenced the KOSPI movement."
The KOSDAQ closed at 712.89, up 0.16% (1.14 points) from the previous day. It started down 0.57% (4.09 points) at 707.66 but reversed to rise. Individuals were net buyers of 65.7 billion KRW, while foreigners and institutions were net sellers of 5.3 billion KRW and 46.1 billion KRW, respectively.
Among the top 10 KOSDAQ stocks by market capitalization, Celltrion Healthcare +1.22%, HLB +1.46%, Celltrion Pharm +1.38%, L&F +0.31%, and Studio Dragon +0.75% were on the rise. Meanwhile, EcoPro BM -1.42%, L&F -3.26%, Kakao Games -0.66%, Pearl Abyss -0.56%, and EcoPro -3.14% declined.
Meanwhile, in the Seoul foreign exchange market, the USD/KRW exchange rate fell 5.3 won from the previous day to 1232.1 won.
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