KOSPI Closes at 2490, Rebounds After 6 Trading Days

KOSPI Up 0.44%·KOSDAQ Up 2.38% Together Rise
Secondary Battery Stocks Soar Again... Future Movements Ahead

The KOSPI index rebounded after six trading days. It is on the verge of recovering the 2500 level.

On the 27th, the KOSPI index closed at 2495.81, up 10.98 points (0.44%) from the previous trading day. The KOSPI started the day down around the 2480 level but regained the 2490 level in the afternoon as buying momentum expanded.

Despite concerns over a global economic recession and the CFD (Contract for Difference) incident dampening investor sentiment, the market performed relatively well. In particular, the strong earnings of major companies such as LG Energy Solution helped drive gains in secondary battery stocks.

[Image source=Yonhap News]

On the day, foreigners and individual investors were net buyers of 281.4 billion KRW and 175.3 billion KRW, respectively. Conversely, institutions were net sellers of 471.5 billion KRW.

By sector, steel and metals (2.44%) showed strong gains in the 2% range. Non-metallic minerals (1.48%), electrical and electronics (1.33%), and machinery (1.32%) all rose more than 1%. Manufacturing (0.9%) and chemicals (0.66%) saw slight increases below 1%.

On the other hand, securities (1.35%), medical precision (1.28%), electric and gas utilities (1.23%), transportation and warehousing (1.09%), and insurance (1.05%) fell by around 1%. Services (0.81%), finance (0.68%), and pharmaceuticals (0.66%) declined less than 1%.

Among the top market capitalization stocks, secondary battery-related shares still showed a strong presence. POSCO Holdings surged over 4%. Kakao Pay, LG Energy Solution, and LG Innotek all rose more than 3%. Additionally, Samsung Electronics Preferred and POSCO Future M showed gains in the 2% range. Conversely, S-Oil and Hanwha Solutions fell over 3%, and HD Hyundai Heavy Industries dropped more than 2%.

Trading volume for the day was 722.74 million shares, with a trading value of 10.9724 trillion KRW. Two stocks hit the upper price limit, and 407 stocks rose. Meanwhile, 468 stocks declined, with two hitting the lower price limit. Fifty-five stocks remained unchanged.

The KOSDAQ index closed at 850.21, up 19.77 points (2.38%) from the previous day. Institutions and foreigners bought 114.2 billion KRW and 57.9 billion KRW, respectively, while individuals sold 162.5 billion KRW.

Secondary battery leader EcoPro remained strong, rising about 18%, and EcoPro BM also surged more than 11%. Other secondary battery-related stocks such as Cheonbo, L&F, and POSCO DX rose between 4% and 6%. Canary Bio, Rainbow Robotics, and HLB also gained. Conversely, Alteogen, SM, and Pearl Abyss declined. By sector, finance, electrical and electronics, and blue-chip companies rose, while transportation, publishing media, and textiles and apparel fell.

Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1338.0 KRW, up 1.7 KRW (0.13%) from the previous day.