The KOSPI index is showing a slight upward trend due to institutional buying.
As of 9:20 AM on the 20th, the KOSPI index was trading at 2396.50, up 0.81 points (0.03%) from the previous day. The index started the day down 3.82 points (0.16%) at 2391.87 but then turned upward. It rose to as high as 2399.51 during the session but later gave back some gains. Individuals and foreigners sold approximately 80.1 billion KRW and 13.1 billion KRW respectively, while institutions net bought about 94.5 billion KRW.
Among the top market capitalization stocks, NAVER rose more than 2%, followed by Kakao (1.33%), Samsung Biologics (1.24%), and SK Hynix (0.12%). On the other hand, LG Energy Solution fell 1.81%, recording the largest decline. Kia (-1.00%), Samsung Electronics (-0.98%), and LG Chem (-0.57%) also declined.
By sector, textiles and apparel, and construction rose the most, up 1.95%. They were followed by securities (1.61%), machinery (1.17%), and pharmaceuticals (1.10%). Meanwhile, electrical and electronics (-0.81%), medical precision (-0.75%), and non-metallic minerals (-0.58%) declined.
On the 17th (local time), the U.S. stock market closed lower amid ongoing concerns in the banking sector. The Dow Jones Industrial Average fell 384.57 points (1.19%) to 31,861.98, the large-cap S&P 500 index dropped 43.64 points (1.10%) to 3,916.64, and the tech-heavy Nasdaq index declined 86.76 points (0.74%) to 11,630.51.
First Republic, which received $30 billion in support from major U.S. banks, plunged about 32%. It heightened concerns by announcing after the market close that it would suspend dividends. Shares of Bank of America, Wells Fargo, and JP Morgan also fell more than 3%.
At the same time, the KOSDAQ index is also on the rise. It was recorded at 798.35, up 0.96 points (0.12%) from the previous day. Individuals and institutions net bought about 59.7 billion KRW and 7.5 billion KRW respectively, while foreigners net sold 48.1 billion KRW.
Among the top market capitalization stocks, Celltrion Healthcare (3.90%), Celltrion Pharm (1.57%), and HLB (1.39%) rose. Conversely, EcoPro (-5.01%), L&F (-3.49%), and EcoPro BM (-3.00%) declined.
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