Individuals and Institutions 'Buy' Boost KOSPI by 0.38%... KOSDAQ Also Up 0.46%

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The KOSPI index is on the rise as individuals and institutions show net buying dominance.

As of 9:19 a.m. on the 28th, the KOSPI index was trading at 2,528.72, up 9.58 points (0.38%) from the previous trading day. The index opened at 2,534.42, up 15.28 points (0.61%), but later gave up some of the gains. Individuals and institutions recorded net purchases worth approximately 36.5 billion KRW and 28.5 billion KRW, respectively, while foreigners were net sellers of about 57.5 billion KRW.

Among the top market capitalization stocks, POSCO Holdings rose 1.21%, POSCO Future M increased 0.86%, and LG Energy Solution went up 0.37%. On the other hand, Samsung Biologics fell 0.79%, Samsung Electronics dropped 0.60%, LG Chem declined 0.36%, and Hyundai Motor decreased 0.21%. Samsung SDI and NAVER remained flat.

By sector, textiles and apparel led the gains with 3.62%, followed by distribution at 1.68%, electric and gas utilities at 1.42%, and steel and metals at 1.37%. Pharmaceuticals fell 0.70%, paper and wood rose 0.65%, and electrical and electronics declined 0.20%.

On the 25th (local time), the Dow Jones Industrial Average closed at 34,346.90, up 247.48 points (0.73%), the Standard & Poor's (S&P) 500 index ended at 4,405.71, up 29.40 points (0.67%), and the tech-heavy Nasdaq index finished at 13,590.65, up 126.67 points (0.94%).

The U.S. stock market closed higher following analysis that Federal Reserve Chair Jerome Powell's speech at the Jackson Hole meeting showed little deviation from previous remarks. In his speech at Jackson Hole, Chair Powell stated that inflation remains at a high level and that the Fed is prepared for additional interest rate hikes. He assessed that to sustainably reduce inflation to the 2% target, economic growth below trend and a cooling of the overheated labor market are necessary.

At the same time, the KOSDAQ index was recorded at 903.56, up 4.18 points (0.46%) from the previous trading day. Individuals were the sole net buyers with about 72 billion KRW, while foreigners and institutions sold approximately 64.1 billion KRW and 7.5 billion KRW, respectively.

Among the top market capitalization stocks, POSCO DX led with a 4.73% increase, followed by L&F at 3.85%, and SM at 2.61%. Celltrion Pharm fell 3.18%, and Celltrion Healthcare declined 0.46%.