KOSPI Surges Over 2% on US Tailwind... KOSDAQ Also Up 3%

[Image source=Yonhap News]

The KOSPI and KOSDAQ closed higher as net purchases by institutions and foreigners surged.

On the 12th, the KOSPI index closed at 2,572.09, up 58.72 points (2.34%) from the previous day. Trading volume was 334.62 million shares, and the trading value was tentatively estimated at 11.037 trillion KRW.

By investor type, institutions and foreigners net bought 17.7 billion KRW and 274.7 billion KRW respectively, while individuals net sold 231.7 billion KRW. Program trading saw net purchases of 421.5 billion KRW in arbitrage trading and 357.2 billion KRW in non-arbitrage trading.

The market's strength on the day is analyzed to be due to US-related issues. The previous day, Jensen Huang, CEO of NVIDIA, mentioned that they could use companies other than TSMC. This led to gains in domestic semiconductor-related stocks such as Samsung Electronics. Also, US presidential candidate Harris's victory in the debate boosted secondary battery and renewable energy-related stocks.

By sector, all sectors rose. The medical precision sector rose 4.54%, machinery 4.0%, electrical and electronics 3.32%, construction 3.19%, steel and metals 3.14%, manufacturing 2.71%, transportation equipment 2.49%, insurance 2.27%, chemicals 1.82%, securities 1.82%, services 1.78%, finance 1.61%, distribution 1.26%, and non-metallic minerals 1.23%.

Most of the top market capitalization stocks also closed strong. Samsung Electronics rose 2.16%, SK Hynix 7.38%, LG Energy Solution 3.76%, Hyundai Motor 3.8%, Celltrion 2.57%, Kia 3.01%, KB Financial Group 0.26%, and POSCO Holdings 4.82%. On the other hand, Samsung Biologics fell 1.02%, and Samsung SDI dropped 0.55%.

On the day, 766 stocks rose, 127 stocks fell, and 41 stocks remained unchanged. One stock hit the upper price limit.

The KOSDAQ index also closed with a gain in the 3% range. The KOSDAQ index closed at 731.03, up 21.61 points (3.05%) from the previous day. By investor type, institutions and foreigners net bought 123.8 billion KRW and 211.9 billion KRW respectively, while individuals net sold 339.9 billion KRW.

Most of the top market capitalization stocks also rose. Alteogen rose 3.27%, EcoPro BM 2.34%, HLB 1.5%, EcoPro 3.35%, Enchem 5.95%, Ligachem Bio 4.65%, Hugel 0.2%, Samchundang Pharm 3.04%, Celltrion Pharm 3.21%, Ligno Industrial 5.64%, and Silicon Two 8.08%. On the other hand, Classys closed down 1.64%.

Meanwhile, in the Seoul foreign exchange market, the KRW/USD exchange rate closed at 1,339.4 KRW, down 2 KRW.