On the 19th, the KOSPI index opened at 2,786.16, up 22.24 points from the previous trading day. Dealers are working in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@
The KOSPI index is reaching new highs, breaking through the 2790 level for the first time in 2 years and 5 months, buoyed by the strong performance of the U.S. stock market.
As of 10:18 a.m. on the 19th, the KOSPI index was trading at 2791.13, up 27.21 points (0.98%) from the previous day. This is the highest level since January 24, 2022 (2828.11), marking a 2-year and 5-month peak.
By investor type, institutions and foreigners are net buyers of 232.7 billion KRW and 73.8 billion KRW respectively, while individuals are net sellers of 259.3 billion KRW. In the futures market, institutions and individuals are net sellers of 795.7 billion KRW and 198.7 billion KRW respectively, whereas foreigners are net buyers of 999.3 billion KRW.
The previous day, the S&P 500 and Nasdaq indices hit all-time highs. Despite mixed trends due to concerns over a recession triggered by weak U.S. retail sales, the overall indices were driven by strong performances in AI and semiconductor companies such as Nvidia.
Influenced by this, the KOSPI index started higher and is expanding its gains as top market cap semiconductor stocks like Samsung Electronics and SK Hynix show strength.
Most sectors are showing gains. Medical precision equipment is up 3.04%, transportation equipment 2.25%, electrical and electronics 1.57%, manufacturing 1.22%, insurance 0.85%, and pharmaceuticals 0.57%. Conversely, the food and beverage sector is down 2.61%, distribution -0.53%, textiles and apparel -0.15%, and non-metallic minerals -0.22%.
Most of the top market cap stocks are also rising. Samsung Electronics and SK Hynix are up 1.38% and 2.99% respectively, LG Energy Solution 0.76%, Hyundai Motor 1.94%, Kia 2.14%, Samsung Biologics 1.08%, and Celltrion 0.78%. On the other hand, POSCO Holdings is down 0.41%, and NAVER is also down 0.6%.
At the same time, the KOSDAQ index is showing a slight upward trend. The KOSDAQ index is trading at 862.24, up 0.37% from the previous day. By investor type, foreigners are net buyers of 79 billion KRW, while institutions and individuals are net sellers of 24.4 billion KRW and 10.9 billion KRW respectively.
Top market cap stocks on the KOSDAQ are mixed. Ecopro BM is slightly down by 0.31%, and Alteogen is down 2.74%. HLB, Enchem, and Lino Industrial are also weak. Conversely, Ecopro is up 0.11%, Celltrion Pharm 1.09%, Samchundang Pharm 7.28%, and Classys 7.14% are showing strength.
Meanwhile, in the Seoul foreign exchange market, the KRW-USD exchange rate is trading at 1380.3 KRW, down 0.8 KRW from the previous day.
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