Mixed Trends Around 2640... Individuals Buy for the First Time in 4 Days
Defense Stocks Rally, Hanwha Aerospace Hits 52-Week High
KOSDAQ Holds Up with Bio and AfreecaTV Leading
The KOSPI is showing mixed trends around the 2640 level during intraday trading.
As of 11:22 AM on the 27th, the KOSPI is trading at 2640.99, down 0.23% from the previous close. The KOSPI index opened at 2654.76, up 7.68 points (0.29%) from the previous trading day, but gradually declined from the early session, hitting a low of 2630.85 and is now moving around the 2640 level.
By investor type, individuals net bought 105 billion KRW, and foreigners net bought 84.6 billion KRW. Conversely, institutions net sold 43.6 billion KRW. Foreigners have continued net buying for four consecutive trading days, while institutions have been net sellers for three consecutive days. Individuals switched from net selling to net buying after four trading days.
By sector, securities (1.08%), transportation equipment (0.80%), machinery (0.08%), construction (0.10%), and pharmaceuticals (0.18%) are rising. Other sectors are declining. The retail sector is down the most, by 1%.
By individual stocks, 207 stocks are rising, 685 stocks are falling, and 41 stocks are unchanged. Among the top 25 companies by market capitalization, except for Samsung Electronics (0.14%), Hyundai Motor (1.26%), Celltrion (2.20%), and Shinhan Financial Group (2.18%), the rest are either flat or declining. Hanwha Aerospace (11.25%), the leading defense stock, hit a 52-week high and set a new all-time high again. The defense industry is expected to see expanded export momentum due to the anticipated revision of the Korea Export-Import Bank Act (KEXIM Act). Other major defense stocks, LIG Nex1 (2.37%) and Korea Aerospace Industries (0.56%), are also rising.
The U.S. stock market fell the previous day amid increased caution ahead of major events scheduled for this week. The U.S. Q4 2023 GDP will be announced on the 28th, January PCE inflation on the 29th, and the February ISM Manufacturing PMI on March 1. Additionally, the inversion of the U.S. Treasury yield curve, considered a leading indicator of recession, reached its largest spread of the year at -0.44%.
The KOSDAQ index is trading down 11.72 points (1.35%) at 855.80.
By investor type, foreigners sold 132.6 billion KRW, institutions sold 48.7 billion KRW, while individuals alone bought 213.1 billion KRW.
260 stocks are rising, 1,336 stocks are falling, and 46 stocks are unchanged. While most of the top market cap stocks are declining, Alteogen (2.36%), Celltrion Pharm (4.70%), Hugel (2.22%), and AfreecaTV (4.88%) are rising. AfreecaTV is believed to be affected by Twitch Korea’s scheduled withdrawal on the 27th.
Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "There is a possibility of some rebound buying following yesterday’s decline, and attention should be paid to the stock-specific trends of KOSDAQ secondary battery stocks driven by the strength of electric vehicle companies such as Tesla and Li Auto."
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