KOSPI Rises Amid Financial Stocks Rally, Secondary Battery Stocks Weaken
Paper Stocks Surge Following Han Kang's Nobel Literature Prize Win
KOSDAQ Declines for Fourth Consecutive Trading Day
The KOSPI index recovered to the 2600 level after four trading days. The upward trend was driven by a favorable breeze from the U.S. and a 'double pull' buying spree by foreigners and institutions.
On the 14th, the KOSPI closed at 2623.29, up 26.38 points (1.02%) from the previous session. The 'favorable breeze' from the U.S. stock market, where the Dow Jones Industrial Average and S&P 500 indices closed at all-time highs last week, continued to influence the domestic market. Starting at 2602.63, up 5.72 points (0.02%) from the previous session, the KOSPI saw additional buying pressure in the afternoon, closing around the 2620 level. This marks the first time in four trading days that the KOSPI closed above the 2600 mark.
By investor type, institutions led the index rise with net purchases of 325.8 billion KRW, and foreigners also contributed with net purchases of 77.6 billion KRW. In contrast, individual investors sold off 440.8 billion KRW.
Among the stocks, 487 closed higher, 398 closed lower, and 53 remained unchanged. Among the top 10 stocks by market capitalization, KB Financial Group, the leading financial stock, stood out with a 6.46% increase, hitting a 52-week high. This was interpreted as influenced by the strong performance of U.S. financial stocks, which posted a third-quarter 'earnings surprise.' Another financial stock in the top 10, Shinhan Financial Group, also rose 1.04%, while Meritz Financial Group and Korea Financial Group reached 52-week highs. Semiconductor leaders Samsung Electronics (2.53%) and SK Hynix (0.81%) also rose together after a while. On the other hand, battery and secondary battery stocks were weak, affected by the 'Tesla shock' that caused an 8% plunge after the robo-taxi unveiling. LG Energy Solution fell 1.22%, and POSCO Holdings dropped 0.68%.
Additionally, related to author Han Kang, who won the Nobel Prize in Literature, paper stocks surged. Korea Paper hit the daily limit up (29.93%), and Moorim Paper rose 8.92%. This was likely influenced by news of a surge in printing demand. By sector, textiles and apparel (3.63%) led, followed by paper and wood with a 3.45% increase. Insurance (2.65%) and financial sectors (2.46%) also showed strength.
Lee Jaewon, a researcher at Shinhan Investment Corp., said, "For now, the index rose as foreign net selling of Samsung Electronics paused and financial stocks hit new highs, indicating a rotation of buying. The secondary battery value chain, which had attracted bargain hunters due to robo-taxi expectations, saw disappointment selling due to event-related letdowns." He added, "As shown by the financial sector today, sectoral differentiation based on earnings seems possible."
The KOSDAQ index closed at 770.26, down 0.09% (0.72 points) from the previous day, marking a decline for four consecutive trading days.
By investor type, individual investors bought 107.2 billion KRW, while foreigners and institutions sold 51.0 billion KRW and 41.0 billion KRW, respectively.
Among the stocks, 793 closed higher, 763 closed lower, and 120 remained unchanged. The top six by market capitalization, including Alteogen (-1.94%), the largest KOSDAQ stock, all declined. Among the top 10 stocks, Hugel recorded the largest gain at 6.85%, followed by Classys (1.54%) and Reno Industrial (1.21%), both rising over 1%. Additionally, the publishing industry, benefiting from the 'Han Kang effect,' continued to rise. Yes24 hit the daily limit up for two consecutive trading days, and publisher Yerimdang rose 18.86%. Yerimdang has recently attracted attention due to signs of a management dispute surrounding its grandchild company and largest shareholder, T'way Air.
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