Kia and Hyundai Motor Auto Stocks Rise
Samsung Electronics and SK Hynix Semiconductor Stocks Weaken
The KOSPI held the 2440 level, supported by buying from institutions and foreigners. It fluctuated around the flat zone during the session and succeeded in a late rebound. However, profit-taking sales of semiconductor stocks could not be avoided.
On the 29th, the KOSPI index closed at 2443.92, up 8.98 points (0.37%) from the previous trading day. The index opened at 2432.63, down 2.31 points (0.09%) from the previous close, and traded around the 2430 level before rising ahead of the close.
Institutions net bought 329.1 billion KRW, and foreigners net bought 10.5 billion KRW. While institutions led the index's rise, foreigners, who showed selling pressure early in the session, also switched to buying. On the other hand, individuals net sold 334.9 billion KRW.
Among the top market capitalization stocks, mixed trends were observed, with 5 out of the top 10 stocks rising. Automobile stocks such as Kia (3.38%) and Hyundai Motor (1.86%) closed higher, but semiconductor stocks like SK Hynix (-1.70%) and Samsung Electronics (-0.32%) declined.
After the U.S. New York stock market closed the previous day, Micron Technology announced earnings below expectations and stated that the memory semiconductor market would gradually improve, but this failed to boost investor sentiment. For domestic semiconductor stocks, profit-taking sales also had an impact following the previous day's gains.
The KOSDAQ index closed at 843.94, up 10.43 points (1.25%) from the previous trading day. The index started at 833.90, up 0.39 points (0.05%) from the previous close. Foreigners were the sole buyers with 70 billion KRW, while individuals and institutions sold 38.5 billion KRW and 26.5 billion KRW, respectively.
Among the top 10 KOSDAQ stocks by market capitalization, 3 stocks rose. Secondary battery stocks EcoPro (14.99%) and EcoPro BM (4.02%) continued their strong performance, and Pearl Abyss also rose more than 2% (2.07%). Among the declining stocks, HLB (-3.24%) had a significant drop.
In the Seoul foreign exchange market, the won-dollar exchange rate closed at 1302.7 KRW, up 3.9 KRW from the previous trading day. Since the 24th, when it sharply dropped 16 KRW to 1294.3 KRW per dollar, the won-dollar exchange rate has been fluctuating around 1300 KRW per dollar.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
