KOSPI Rises 0.5% on Foreign and Institutional Dual Buying... KOSDAQ Also Up 0.8%

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The KOSPI index is on the rise due to simultaneous buying by foreigners and institutions.

As of 9:13 a.m. on the 4th, the KOSPI index was recorded at 2,518.31, up 13.30 points (0.53%) from the previous session. The index opened at 2,522.69, up 17.21 points (0.69%), then slightly declined. Individuals sold about 87.3 billion KRW worth alone, while foreigners and institutions bought 63.7 billion KRW and 27.7 billion KRW worth, respectively.

Among the top market capitalization stocks, NAVER (1.21%), SK Hynix (0.90%), Samsung SDI (0.89%), and Samsung Electronics (0.83%) rose in that order. On the other hand, LG Chem (-0.82%), Kia (-0.47%), and POSCO Holdings (-0.32%) declined.

By industry sector, transportation and warehousing (1.12%), electrical and electronics (1.02%), securities (0.83%), and manufacturing (0.66%) rose, while construction (-0.44%), textiles and apparel (-0.43%), and machinery (-0.42%) fell.

On the 2nd (local time), the U.S. stock market closed higher following remarks by Federal Reserve (Fed) Chair Jerome Powell. The Dow Jones Industrial Average rose 294.61 points (0.82%) to 36,245.50, the Standard & Poor’s (S&P) 500 index increased 26.83 points (0.59%) to 4,594.63, and the tech-heavy Nasdaq index closed up 78.81 points (0.55%) at 14,305.03.

Chairman Powell said at Spellman College, "It is too early to confidently conclude that we have achieved a sufficiently restrictive stance, and likewise, it is too early to forecast when policy might ease."

However, he added, "We are prepared to act if we judge that it is appropriate to shift policy to a more restrictive stance," leaving the door open for further tightening. Although his remarks aimed to balance expectations to delay rate cuts, they were interpreted more dovishly. This is because there has been almost no content within the Fed to curb expectations for rate cuts.

At the same time, the KOSDAQ index traded at 833.96, up 6.72 points (0.81%) from the previous trading day. Individuals net bought about 130.2 billion KRW, while foreigners and institutions net sold approximately 52.8 billion KRW and 66.4 billion KRW, respectively.

Among the top market capitalization stocks, EcoPro BM (17.32%), L&F (4.14%), and HLB (2.21%) rose, while EcoPro (-5.39%), Alteogen (-2.06%), and Rainbow Robotics (-2.02%) declined.