Individuals and Institutions 'Buy' as KOSPI and KOSDAQ Close Higher

The KOSPI index closed higher on the 19th due to buying pressure from individuals and institutions.

On this day, the KOSPI index closed at 2,568.55, up 1.69 points (0.07%) from the previous session. The index opened at 2,564.81, down 2.05 points (-0.08%), but managed to rebound before the market closed. Institutions and individuals net bought 70.6 billion KRW and 30.6 billion KRW respectively, while foreigners sold 95.8 billion KRW.

On the 14th, the KOSPI index rose more than 1% in early trading to the 2,540 level due to the possibility of a U.S. interest rate cut next year. Dealers are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

Among the top market capitalization stocks, LG Electronics (2.29%), Celltrion (1.98%), POSCO Holdings (1.33%), LG Energy Solution (0.95%), LG Chem (0.80%), and Samsung Electronics (0.69%) rose. On the other hand, POSCO Future M (-1.37%), SK Hynix (-1.29%), KB Financial Group (-0.95%), and Samsung C&T (-0.93%) declined.

By sector, Medical Precision (1.90%), Textile & Apparel (1.49%), Transportation & Warehousing (1.04%), Pharmaceuticals (0.85%), and Food & Beverage (0.83%) rose. Conversely, Electric & Gas Utilities (-2.34%), Construction (-1.21%), Non-metallic Minerals (-0.92%), and Distribution (-0.61%) sectors fell.

The KOSDAQ index closed at 858.30, up 7.34 points (0.86%) from the previous trading day. The KOSDAQ opened at 850.36, down 0.69 points (-0.07%), but quickly rebounded to close higher. Institutions and individuals bought approximately 51.5 billion KRW and 18.7 billion KRW respectively, while foreigners sold 32.6 billion KRW.

Among the top market capitalization stocks, LS Materials (13.78%), HLB (11.82%), JYP Entertainment (JYP Ent.) (7.85%), EcoPro (5.16%), L&F (4.61%), and SM (3.56%) rose. Meanwhile, Rainbow Robotics (-4.20%), WCP (-4.19%), MRO (-3.68%), Soulbrain Holdings (-3.36%), and SNS Tech (-3.16%) declined.

Researchers Kim Seok-hwan and Park Su-jin from Mirae Asset Securities said, "The KOSPI rose as foreigners expanded net buying in futures. The KOSDAQ maintained its upward trend with continued strength in secondary battery and entertainment-related stocks," adding, "News of major shareholder capital gains tax relief also attracted net buying from individuals in both spot and futures markets."

In the Seoul foreign exchange market on the same day, the won-dollar exchange rate closed at 1,307.8 won, up 10.6 won from the previous trading day.