KOSPI and KOSDAQ Close Higher Together... Institutions and Foreigners 'Buy'

4 Consecutive Trading Days of Gains
Strong Performance of Large-Cap 2nd Battery and Semiconductor Stocks

The KOSPI and KOSDAQ both closed higher. The internet and semiconductor sectors, as well as the secondary battery sector, led the gains.

According to the Korea Exchange on the 6th, the KOSPI index closed at 2,462.62, up 30.55 points (1.26%) from the previous trading day. Individuals were net sellers with 787.7 billion KRW, while foreigners and institutions were net buyers with 322.2 billion KRW and 459.9 billion KRW, respectively. The won/dollar exchange rate also closed at 1,296.9 KRW, down 4.7 KRW during the same period.

By sector, the electrical and electronics sector recorded the highest increase at 2.2%. Additionally, the service sector rose by over 2%, while manufacturing, pharmaceuticals, non-metallic minerals, and chemicals increased by over 1%. On the other hand, medical precision and steel & metals fell by over 1%, and transportation & warehousing, food & beverages, and construction sectors were slightly down.

Most of the top market capitalization stocks on the KOSPI closed higher. Samsung SDI, which is establishing a battery joint venture with the U.S. automaker GM (General Motors), closed at 781,000 KRW, up 50,000 KRW (6.84%) from the previous day.

Samsung Electronics (1.65%), LG Energy Solution (1.67%), SK Hynix (2.75%), Samsung Biologics (1.65%), and LG Chem (3.27%) also closed higher. Conversely, POSCO Holdings (-0.75%), Hana Financial Group (-1.25%), Korea Zinc (-1.35%), and HMM (-1.78%) closed lower.

The KOSDAQ also closed higher. The KOSDAQ index closed at 816.51, up 14.09 points (1.76%) from the previous trading day. Individuals were net buyers with 362.6 billion KRW, while foreigners and institutions were net sellers with 131.1 billion KRW and 205.9 billion KRW, respectively.

By sector, general electrical electronics led with a 12.84% increase. Manufacturing, metals, food & tobacco, transportation equipment & parts, and chemicals rose by over 2%, while semiconductors, software, machinery & equipment, and telecommunications equipment increased by over 1%. Meanwhile, paper & wood fell by over 2%, and broadcasting services declined by over 1%.

EcoPro BM, the largest market cap stock on the KOSDAQ, showed strong performance, driving the overall index higher. EcoPro BM closed at 217,000 KRW, up 34,900 KRW (19.17%) from the previous day, hitting a 52-week high. EcoPro (3.34%) and EcoPro HN (29.83%) also closed higher.

Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "Last week, the U.S. stock market suggested a 25 basis point rate hike through the monetary policy report, which led to lower interest rates and a weaker dollar, resulting in a tech stock-led rally that positively influenced the domestic stock market. Especially, the weaker dollar and increased foreign buying inflows are positive factors."

Meanwhile, in the Seoul foreign exchange market, the won-to-dollar exchange rate closed at 1,296.9 KRW per dollar, down 4.7 KRW from the previous day's closing price.