KOSPI Gains 1.8% Intraday on Net Buying by Institutions and Foreigners

On the 7th, the KOSPI index opened at 2718.17, up 41.54 points (1.55%) from the previous trading day, as dealers were working in the Hana Bank dealing room in Jung-gu, Seoul. On the same day, the won-dollar exchange rate started trading at 1356.5 won, down 6.3 won from the previous trading day. Photo by Kang Jin-hyung aymsdream@

The KOSPI index is showing intraday strength, supported by net buying from institutions and foreigners.

As of 10 a.m. on the 7th, the KOSPI index is trading at 2726.44, up 1.86% from the previous day.

By investor type, institutions and foreigners are net buyers of 423.6 billion KRW and 384.7 billion KRW respectively, while individuals are net sellers of 827.2 billion KRW. In the futures market, foreigners are net buyers of 1.3257 trillion KRW, whereas institutions and individuals are net sellers of 1.085 trillion KRW and 239.6 billion KRW respectively.

The New York stock market rose the previous day as expectations for an interest rate cut increased again due to a deterioration in the U.S. employment index for April. According to the April employment report released by the U.S. Department of Labor on the 3rd, nonfarm payrolls increased by 175,000 compared to the previous month, significantly below the expert forecast of 240,000 compiled by Dow Jones.

Most sectors are showing strength. The electrical and electronics sector is up 3%, insurance 2.92%, pharmaceuticals 2.52%, manufacturing 2.17%, electric and gas utilities 1.89%, machinery 1.84%, medical precision 1.66%, transportation equipment 1.5%, services 1.35%, telecommunications 1.2%, and distribution 1.22%. In contrast, the textile and apparel sector is down 0.71%, and the chemical sector is also weak at 0.63%.

Among the top market capitalization stocks, more are rising. Samsung Electronics and SK Hynix are up 3.87% and 3.98% respectively, LG Energy Solution is up 0.38%, Samsung Biologics 2.2%, Hyundai Motor 0.83%, Kia 1.58%, Celltrion 3.81%, POSCO Holdings 0.5%, and NAVER 1.64%. Meanwhile, Samsung SDI and KB Financial are moving in a slightly weak range.

At the same time, the KOSDAQ index is also strong. The KOSDAQ index is trading at 872.82, up 0.84% from the previous day. By investor type, institutions and foreigners are net buyers of 56.8 billion KRW and 84.2 billion KRW respectively, while individuals are net sellers of 132.1 billion KRW.

Among the top market capitalization stocks, Ecopro BM is down 1.11%, Ecopro -1.28%, and Enchem -3.52%. On the other hand, HLB is up 3.52%, Alteogen 2.09%, Lino Industrial 10.77%, Celltrion Pharm 4.71%, Rainbow Robotics 0.63%, HPSP 1.44%, EO Technics 5.17%, and Samchundang Pharm 0.09%.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate is trading at 1356.1 won, down 6.7 won from the previous day.