JYP Entertainment's Net Profit Steadily Increases... Up 7.48%
The KOSPI index closed firmly above the 2580 level, driven by strong 'buying' from foreign investors. Samsung Electronics, the largest by market capitalization, rose nearly 3% as foreigners made large net purchases. The KOSDAQ continued its upward trend in the latter part of the session with institutional investors joining the 'buying' momentum. JYP Entertainment (JYP Enter) led the market, soaring over 7%.
On the 30th, the KOSPI closed at 2585.52, up 1.05% (26.71 points) from the previous trading day. The index started the day up 0.92% (23.60 points) and extended gains in the afternoon.
Foreign investors drove the index. They made net purchases worth 675.6 billion KRW alone. Individuals and institutions net sold 542.8 billion KRW and 112.3 billion KRW, respectively. In the futures market, foreigners alone bought 394.4 billion KRW, while individuals and institutions sold 174.0 billion KRW and 184.8 billion KRW, respectively.
The top 10 stocks by market capitalization showed mixed performance. Samsung Electronics closed up 2.84% at 72,300 KRW, with foreigners net buying 447.2 billion KRW. LG Energy Solution +0.35%, SK Hynix +1.01%, Samsung Biologics +0.13%, Samsung SDI +3.61%, and POSCO Holdings +0.69% also rose.
The KOSDAQ closed at 851.50, up 0.98% (8.27 points) from the previous day. It started at 850.00, up 0.80% (6.77 points), and maintained its upward momentum.
In the KOSDAQ, institutional investors joined the 'buying' trend to lead the index. Foreigners and institutions made net purchases of 114.6 billion KRW and 110.8 billion KRW, respectively. Individuals alone net sold 214.2 billion KRW.
The top 10 stocks by market capitalization mostly rose. JYP Enter closed at 122,200 KRW, up 7.48% for the day. KB Securities analyst Lee Seonhwa said, "Operating profit is expected to grow steadily by 14.1% over the next three years," and raised the target price from 120,000 KRW to 135,000 KRW.
Other notable gainers included L&F +3.78%, Pearl Abyss +1.62%, and Kakao Games +1.17%. On the other hand, Ostem Implant, which is voluntarily delisting, fell 0.05%, and Celltrion Pharm -0.12% were the only decliners.
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