KOSPI Ends Higher on Net Buying by Institutions and Foreigners

On the 3rd, the KOSPI index opened at 2797.14, up 16.28 points from the previous trading day. Dealers are working in the Hana Bank dealing room in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

The KOSPI index closed higher, supported by net purchases from institutional and foreign investors.

On the 3rd, the KOSPI index closed at 2794.01, up 13.15 points (0.47%) from the previous day. The trading volume was 334.17 million shares, and the trading value was tentatively estimated at 10.0886 trillion won.

By investor type, institutions and foreigners net bought 179.1 billion won and 89.2 billion won respectively, while individuals net sold 259.7 billion won. Program trading saw net buying of 26.2 billion won in arbitrage trading and 4.8 billion won in non-arbitrage trading.

The KOSPI index started higher following the strong performance of the New York stock market the previous day but reversed to a decline during the session as foreigners showed net selling. However, in the latter part of the session, foreigners returned to net buying, and institutions increased their net purchases, supporting the index.

More sectors rose than fell. The securities sector rose 1.82%, financials 1.05%, electrical and electronics 0.95%, transportation and warehousing 0.5%, steel and metals 0.49%, manufacturing 0.43%, and services 0.32%. On the other hand, the medical precision sector fell 2.18%, textiles and apparel -1.78%, food and beverages -1.19%, paper and wood -0.87%, and electricity and gas -0.83%.

Most of the top market capitalization stocks rose. SK Hynix increased by 1.72%, LG Energy Solution by 4.22%, Hyundai Motor by 1.28%, Kia by 0.08%, KB Financial Group by 1.44%, POSCO Holdings by 1.37%, and Shinhan Financial Group by 3.23%. Meanwhile, Samsung Electronics remained flat, and Celltrion fell 1.46%.

The KOSDAQ index also closed higher. On the day, the KOSDAQ index closed at 836.1, up 6.19 points (0.75%) from the previous day. By investor type, foreigners net bought 190.4 billion won, while institutions and individuals net sold 128.1 billion won and 50 billion won respectively.

The top market capitalization stocks showed mixed movements. EcoPro BM and EcoPro rose 4.66% and 7.67% respectively, and HLB closed at the upper limit. Samchundang Pharmaceutical also showed a strong gain of 8.99%. On the other hand, Alteogen fell 1.52%, Enchem -2.67%, Celltrion Pharm -2.13%, Lino Industrial -1.12%, and HPSP -4.69%.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1389.8 won, up 2.9 won from the previous day.