Following the simultaneous rise of the three major U.S. stock indices the previous day, the domestic stock market started on an upward trend on the 16th. The KOSPI opened more than 50 points higher, and the KOSDAQ also began with an increase of over 10 points. Employees are working in the dealing room at the Hana Bank headquarters in Euljiro, Seoul. Photo by Heo Younghan younghan@
The KOSPI index rose nearly 2% thanks to net buying by institutions and foreigners.
On the 16th, the KOSPI index closed at 2,697.23, up 52.73 points (1.99%) from the previous day. Trading volume was 375.92 million shares, and the trading value was tentatively estimated at 10.8206 trillion won.
By investor type, institutions and foreigners net bought 217.3 billion won and 1.2114 trillion won respectively, while individuals net sold 1.4489 trillion won. Program trading saw net selling of 89.6 billion won in arbitrage trading and 543.9 billion won in non-arbitrage trading.
On that day, the KOSPI index started higher, buoyed by the previous day’s sharp rise in the New York stock market due to reduced concerns about a U.S. economic slowdown. Afterwards, institutions and foreigners jointly showed net buying, driving the index upward.
By sector, most sectors rose. Electrical and electronics increased by 3.65%, machinery 3.18%, manufacturing 2.52%, medical precision 2.51%, distribution 2.3%, transportation equipment 2.2%, paper and wood 1.79%, securities 1.56%, electric and gas 1.38%, pharmaceuticals 1.21%, finance 1.12%, and insurance 1.07%. On the other hand, food and beverages fell 2.65%, telecommunications -0.67%, non-metallic minerals -0.56%, and construction -0.52%.
Among the top market capitalization stocks, performances were mixed. Samsung Electronics and SK Hynix rose 3.89% and 6.96% respectively, Hyundai Motor 5.81%, Celltrion 1.34%, Kia 3.52%, Shinhan Financial Group 0.91%, Samsung C&T 3.51%, and NAVER 0.13% showed strength. Conversely, LG Energy Solution fell 0.15%, Samsung Biologics -0.11%, KB Financial Group -0.47%, and POSCO Holdings -0.6% declined.
The KOSDAQ index also closed higher thanks to net buying by institutions and foreigners. The KOSDAQ index ended at 786.33, up 9.5 points (1.22%) from the previous day. By investor type, institutions and foreigners net bought 46.3 billion won and 108.2 billion won respectively, while individuals net sold 132.8 billion won.
Among the top market capitalization stocks, EcoPro BM and EcoPro fell 2.1% and 1.32% respectively, and Celltrion Pharm also dropped 1.82%. On the other hand, Alteogen rose 2.91%, HLB 6.32%, Enchem 14.05%, Samchundang Pharm 9.72%, Hugel 3.03%, Lino Industrial 4.96%, Ligakem Bio 0.77%, Classys 2.95%, Silicon Two 11.88%, and Rainbow Robotics 1.42% closed higher.
Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1,358.2 won, up 0.2 won from the previous day.
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