Strong Buying by Individuals and Foreigners
Large Caps Rally
KOSDAQ Starts Up but Turns Downward
On the 10th, the KOSPI index closed slightly higher without surpassing the 2600 mark despite the strong performance of semiconductor stocks. This was attributed to the weak performance of Samsung Electronics, the largest company by market capitalization.
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 indices such as stock prices and exchange rates are displayed on the electronic board. Photo by Heo Younghan younghan@
On that day, the KOSPI index closed at 2599.16, up 4.80 points (0.19%) from the previous day. It started the session higher at 2611.65, up 17.29 points (0.67%), but the gains narrowed and it fell below the 2600 level.
In the KOSPI market, individual investors bought a net 155.8 billion KRW, foreigners bought a net 127 billion KRW, while institutions sold a net 299.6 billion KRW.
Among the top market cap stocks, Samsung Electronics closed down 2.32% at 58,800 KRW, falling back to the 50,000 KRW range. This is the first time in 1 year and 7 months that the closing price has dropped to the 50,000 KRW level. Meanwhile, SK Hynix and Hanmi Semiconductor rose 4.89% and 3.07%, respectively, continuing the positive momentum seen in U.S. semiconductor stocks.
Besides these two stocks, Celltrion (1.62%), KB Financial Group (0.56%), Shinhan Financial Group (2.53%), (3.73%), HD Hyundai Heavy Industries (5.12%), and KT&G (12.95%) also closed higher. KT&G saw a significant rise thanks to net buying by institutions.
Ji-won Kim, a researcher at KB Securities, analyzed, "Samsung Electronics hit a 52-week low due to poor earnings. Although Samsung Electronics continued to decline, semiconductor stocks excluding Samsung showed generally favorable trends, and along with the strength of large-cap stocks in finance, automotive, and shipbuilding sectors, the KOSPI recovered slightly."
On the other hand, secondary battery stocks such as LG Energy Solution (-2.18%), LG Chem (-1.25%), Samsung SDI (-0.40%), and POSCO Future M (-2.13%) fell amid caution ahead of Tesla's robo-taxi unveiling.
The KOSDAQ index closed at 775.48, down 2.76 points (0.35%) from the previous trading day. The index started at 781.91, up 3.67 points (0.47%), but gradually widened its losses and turned negative.
In the KOSDAQ market, institutions and foreigners sold a net 109.5 billion KRW and 95.8 billion KRW, respectively, while individual investors bought a net 203.2 billion KRW.
Among the top market cap stocks, similar to the KOSPI market, secondary battery stocks such as EcoPro (-3.68%) and EcoPro BM (-3.47%) declined. Hugel (-4.35%) and LignoTech (-2.48%) also closed lower.
Ligand Chem Bio surged over 9% to 9.5% following news that it signed two antibody-drug conjugate (ADC) technology transfer agreements with Japanese pharmaceutical company Ono Pharmaceutical.
Additionally, Samchundang Pharmaceutical (5.10%), Enchem (4.17%), and Classys (2.58%) also closed higher.
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