Foreigners 'Saja' Lead KOSPI and KOSDAQ to Close Higher

The KOSPI and KOSDAQ indices closed higher due to net buying by foreigners.

On the 22nd, the KOSPI closed at 2,557.08, up 0.76% (19.29 points) from the previous trading day. The KOSPI showed mixed trends in the early session but turned upward as net buying by foreigners and institutions strengthened. In the market that day, foreigners and institutions bought stocks worth 242.3 billion KRW and 534 billion KRW respectively, while individuals sold stocks worth 787.9 billion KRW alone.

Lee Kyung-min, a researcher at Daishin Securities, explained, "With no signs of worsening US-China conflicts and expectations that the US debt ceiling negotiations will resume, risk appetite continued. Semiconductor, secondary battery, and automobile sectors showed broad strength amid continued net buying by foreigners and institutions."

By sector, the transportation and warehousing industry rose strongly by 2.56%. Among them, the shipbuilding industry reflected positive prospects due to increased ship orders and rising ship prices leading to improved earnings forecasts. By stock, Daewoo Shipbuilding & Marine Engineering (11.75%), Hyundai Mipo Dockyard (9.7%), HD Korea Shipbuilding & Offshore Engineering (6.4%), and HD Hyundai Heavy Industries (5.5%) rose. Among the top market capitalization stocks, Samsung Electronics (0.15%), LG Energy Solution (1.45%), SK Hynix (0.92%), Samsung Biologics (1.03%), LG Chem (0.29%), Samsung SDI (0.29%), Hyundai Motor (0.97%), and Kia (0.11%) rose, while NAVER (-0.69%) fell. Foreigners alone bought stocks worth 216.1 billion KRW, while individuals and institutions sold stocks worth 202.1 billion KRW and 4.4 billion KRW respectively. Among the top market capitalization stocks, EcoPro BM (4.42%), EcoPro (6.58%), Celltrion Healthcare (2.02%), L&F (5.91%), HLB (0.14%), Celltrion Pharm (2.92%), Kakao Games (0.25%), and Pearl Abyss (0.11%) rose, while JYP Ent. (-1.38%) and Osstem Implant (-0.73%) fell.