KOSPI Turns Upward... "Led by POSCO Group and Driven by Batteries"

KOSPI and KOSDAQ Battery Stocks Rally

The KOSPI, which started off declining, has turned to an upward trend. POSCO Holdings, ranked 4th in market capitalization, surged more than 20%, while group companies such as POSCO Future M and POSCO DX also saw their stock prices rise, driving the index. The combined market capitalization of the six major listed companies in the POSCO group exceeds 120 trillion won. Moreover, with the battery sector also showing strength, the KOSPI index quickly climbed to the 2620 level.

As of 1:24 PM on the 24th, the KOSPI is trading at 2628.26, up 0.71% (18.50 points) from the previous trading day. The KOSPI started the day down 0.05% at 2608.47 but turned upward near lunchtime.

Individual investors alone are net buyers of 474.7 billion won, pushing the index higher. In contrast, foreigners and institutions are net sellers of 109 billion won and 347.7 billion won, respectively. In the futures market, foreigners and institutions are selling 38.8 billion won and 46.2 billion won worth, respectively, while individuals are buying 71 billion won.

As POSCO group stocks surge, the battery sector is leading the KOSPI. POSCO Holdings recorded a 20.51% jump from the previous day at 664,000 won, hitting a 52-week high. POSCO Future M also rose 11.11% to 545,000 won. Most affiliates are soaring, including POSCO DX +10.72%, POSCO International +29.92%, and POSCO M-Tech +10.15%.

Among the top 10 stocks by market capitalization, the battery sector stands out alongside POSCO group stocks. LG Energy Solution is up 5.10%, LG Chem +4.18%, and Samsung SDI +3.94%. Samsung Electronics, which was weak in the morning, is trading at 70,500 won, up 0.28% in the afternoon.

On the other hand, as of 1:33 PM, the KOSDAQ is down 0.65% from the previous day at 928.54. The KOSDAQ started the day up 0.04% at 934.99 but turned downward early in the session and is widening its losses.

In the morning session, both foreigners and institutions were selling, but in the afternoon, only foreigners are net sellers of 57.8 billion won. Individuals and institutions are net buyers of 45.9 billion won and 36.9 billion won, respectively.

Looking at the top 10 stocks by market capitalization, similar to the KOSPI, only POSCO affiliates and battery stocks are strong. EcoPro BM is up 5.90%, L&F +4.66%, and EcoPro +1.84%.