KOSPI Closes Up 1%... Foreigners and Institutions Lead Buying Spree

On the 31st, the KOSPI rose by about 1%. It touched the 2480 level during the session but fluctuated and closed in the 2470 range. The exchange rate rose again to the 1300 won level.

On that day, the KOSPI closed at 2476.86, up 23.7 points (0.97%) from the previous session. In the securities market, foreigners and institutions engaged in combined net buying of 517.3 billion won and 207.2 billion won respectively, but individual investors sold off 721.1 billion won.

Among the top 10 companies by market capitalization on the KOSPI, the "blue-chip" Samsung Electronics closed at 64,000 won, up 1.27% from the previous session. Other secondary battery-related stocks such as Samsung SDI (1.94%) and LG Chem (2.30%) also showed a collective upward trend. Hyundai Motor, expected to report strong first-quarter earnings, rose 1.82%. On the other hand, LG Energy Solution closed down 0.68% at 584,000 won, and SK Hynix fell 0.23% to 88,600 won.

Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "The KOSPI index showed strength mainly in large-cap stocks by market capitalization," adding, "The easing of U.S. banking risks, the rise in the Philadelphia Semiconductor Index, and the positive March manufacturing and non-manufacturing Purchasing Managers' Index (PMI) released during the session in China all had a positive effect."

Meanwhile, the KOSDAQ index closed at 847.52, down 2.96 points (0.35%) from the previous session. This was the first decline in six trading days. It is interpreted as the result of profit-taking selling following the recent rise in the index. Individual investors made net purchases of 178.9 billion won, but foreigners and institutions made net sales of 137.1 billion won and 7.5 billion won respectively.

Among the top market capitalization groups on the KOSDAQ, EcoPro BM closed down 0.88% at 224,500 won. L&F closed at 313,500 won, up 5.91%, and HLB closed at 34,750 won, up 4.20%.

Meanwhile, in the Seoul foreign exchange market on the same day, the won-dollar exchange rate closed at 1,301.9 won, up 2.9 won from the previous day's closing price.