KOSPI Starts Higher Influenced by US Stock Market Rally... Recovers 2600 Level

Overnight US Stock Market Rise Impact
KOSPI Sees Simultaneous Buying by Individuals and Institutions
KOSDAQ Turns to a Downtrend

On the 10th, the KOSPI index opened higher, influenced by positive momentum from the U.S. stock market.

On the 10th, the first trading day after the inclusion of Korean government bonds in the World Government Bond Index (WGBI) was decided on the 9th, the KOSPI opened slightly higher in the 2610-point range, and the KOSDAQ also rose slightly. Employees are working in the dealing room of Hana Bank in Euljiro, Seoul, while stock prices, exchange rates, and other indices are displayed on the electronic board. Photo by Heo Younghan younghan@

As of 9:48 a.m. that day, the KOSPI index stood at 2,601.74, up 7.37 points (0.28%) from the previous day. The KOSPI index started the day at 2,611.65, rising 0.67%.

In the securities market, individuals and institutions led the index by net buying 205.3 billion KRW and 67.1 billion KRW respectively. Foreigners were net sellers with sales amounting to 277.1 billion KRW.

The stock prices of the top market capitalization companies showed mixed trends. Despite the overnight rise in U.S. semiconductor stocks, Samsung Electronics fell 1.49%. Meanwhile, SK Hynix rose 3.88%. Other stocks such as Celltrion (2.25%), NAVER (2.77%), Kia (1.51%), Shinhan Financial Group (1.26%), Hyundai Motor (1.02%), and Samsung Biologics (1.00%) were also rising. LG Energy Solution (-2.29%), KB Financial Group (-1.34%), and POSCO Holdings (-1.20%) were declining.

At the same time, the KOSDAQ index was down 0.78 points (0.10%) from the previous day, standing at 777.46. The KOSDAQ index started trading at 781.91, up 0.47%, but then turned downward. In the KOSDAQ market, individuals were net buyers with purchases worth 86.9 billion KRW, while foreigners and institutions were net sellers with sales of 66.3 billion KRW and 18.4 billion KRW respectively.

Stocks such as Enchem (4.17%), Alteogen (1.08%), Samchundang Pharm (0.76%), Ligand Chem Bio (0.53%), Classys (0.52%), and Celltrion Pharm (0.88%) were rising. Secondary battery stocks like EcoPro BM (-3.52%) and EcoPro (-2.38%) were falling, along with HLB (-1.95%), Hugel (-2.57%), and Lino Industrial (-1.92%).

Meanwhile, the U.S. stock market overnight saw all three major New York indices rise. International oil prices fell for the second consecutive day, easing concerns over Middle East instability, and gains in tech stocks drove the stock price increases. The blue-chip-focused Dow Jones Industrial Average rose 431.63 points (1.03%) to close at 42,512, the large-cap S&P 500 index gained 40.91 points (0.71%) to finish at 5,792.04, both hitting record highs. The tech-heavy Nasdaq index closed at 18,291.62, up 108.7 points (0.6%).

Seonghoon Lee, a researcher at Kiwoom Securities, explained, "On the 8th and 9th, the U.S. stock market rose as easing Middle East tensions and favorable economic indicators stabilized oil prices and interest rates, with gains led by large technology stocks driving the three major indices upward."