'Individual Buying Pressure' Drives KOSPI and KOSDAQ Higher at Opening

Supported by individual buying power, the domestic stock market started higher on the 28th and is maintaining a firm upward trend.

As of 9:13 a.m., the KOSPI was trading at 2,788.57, up 4.51 points (0.16%) from the previous day. The index opened at 2,792.79, up 8.73 points (0.31%), continuing its upward momentum. Currently, foreigners and institutions are net selling 29.5 billion KRW and 7.3 billion KRW respectively, while individuals are solely buying 41.3 billion KRW worth of stocks.

On the 27th, dealers are working in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

Among the top market capitalization stocks, Samsung Life Insurance (4.16%), Samsung Fire & Marine Insurance (3.32%), Shinhan Financial Group (2.23%), Samsung C&T Corporation (1.37%), NAVER (0.97%), KB Financial Group (0.89%), and Kakao (0.87%) are rising. Meanwhile, Samsung SDI (-1.66%), LG Chem (-1.60%), Kia (-1.06%), SK Hynix (-1.06%), LG Energy Solution (-0.91%), Samsung Electronics Preferred (-0.63%), and POSCO Holdings (-0.56%) are declining.

By sector, insurance (2.45%), transportation and warehousing (1.91%), finance (1.19%), electric and gas utilities (0.67%), and securities (0.61%) are rising. Conversely, electrical and electronics (-0.47%), steel and metals (-0.38%), manufacturing (-0.31%), and pharmaceuticals (-0.28%) sectors are falling.

On the 27th (local time), the three major U.S. stock indices closed slightly higher in New York. At the New York Stock Exchange (NYSE), the blue-chip-focused Dow Jones Industrial Average rose 36.26 points (0.09%) to close at 39,164.06. The large-cap S&P 500 index increased by 4.97 points (0.09%) to 5,482.87, and the tech-heavy Nasdaq Composite rose 53.53 points (0.3%) to 17,858.68.

At the same time, the KOSDAQ index recorded 840.01, up 1.36 points (0.16%) from the previous session. The index opened at 840.11, up 1.46 points (0.17%). Foreigners and institutions were net sellers of 5.2 billion KRW and 27.7 billion KRW respectively, while individuals bought 38.1 billion KRW worth of stocks.

Among the top market capitalization stocks, Techwing (6.26%), Samchundang Pharmaceutical (4.01%), Rino Industrial (2.15%), Classys (2.14%), EcoPro (0.56%), and Pearl Abyss (0.88%) are rising. On the other hand, Silicon2U (-5.32%), Daewoo Electronics Materials (-2.06%), Alteogen (-1.93%), and Soulbrain (-1.20%) are declining.