Foreigners Net Buy 334 Billion KRW Alone
Net Buying of Secondary Battery Stocks Including LG Energy Solution
As Jerome Powell, Chairman of the Federal Reserve (Fed), is set to appear before Congress, cautious sentiment has spread, leading the KOSPI to close the session with a slight gain.
On the 7th, the KOSPI closed at 2463.35, up 0.03% (0.73 points) from the previous trading day. The KOSPI started the day down 0.23%, then rose more than 0.4% in the afternoon, but gains were limited as investors took a wait-and-see approach ahead of Chairman Powell's speech.
Looking at investor trends, only foreign investors maintained net buying. Foreigners purchased stocks worth 334.1 billion KRW in the stock market, while individuals and institutions sold stocks worth 215.6 billion KRW and 135 billion KRW, respectively.
By sector, the non-metallic minerals index rose the most, up 7.46%, driven by strong performance in secondary battery stocks. Among individual stocks, LG Energy Solution (3.47%), Samsung SDI (1.54%), LG Chem (1.93%), and POSCO Chemical (11.89%) showed upward trends. Lee Kyung-min, a researcher at Daishin Securities, said, “Foreign investors led the KOSPI’s rise by buying mainly secondary battery stocks,” adding, “In fact, secondary battery-related stocks are completely leading the KOSPI’s gains.”
Other large-cap stocks all declined. Samsung Electronics fell 1.3%, while SK Hynix (-0.89%), Samsung Biologics (-0.87%), Hyundai Motor (-1.35%), NAVER (-1.63%), Kia (-1.15%), and Kakao (-3.3%) all dropped compared to the previous day.
The KOSDAQ index closed at 815.76, down 0.09% (0.75 points) from the previous trading day. The KOSDAQ fell more than 0.7% early in the session but the decline narrowed in the afternoon as individual investors increased net buying. Regarding investor trends, foreigners and institutions sold stocks worth 81.6 billion KRW and 164 billion KRW, respectively, while individuals were the sole net buyers with 253.1 billion KRW worth of purchases.
On the KOSDAQ market that day, SM Entertainment surged more than 15%, posting the largest gain. The stock price rose after news spread in the morning that Kakao would start a public tender offer at 150,000 KRW per share for SM Entertainment. Following this, expectations for the return of Honorary Chairman Seo Jung-jin boosted gains in Celltrion Pharm (12.8%) and Celltrion Healthcare (7.7%). Additionally, pharmaceutical and bio-related stocks such as HLB (8.5%), HLB Life Science (4.9%), and Seegene (2.6%) showed notable upward trends.
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