KOSPI Recovers to 2600 Level on 'Institutional' Buying

KOSDAQ Also Rises
Samsung Electronics Up Over 3%
Secondary Battery Stocks Also Strong

On the 28th, the KOSPI index recovered to the 2600 level.

[Image source=Yonhap News]

According to the Korea Exchange, the KOSPI index closed at 2612.43, up 29.16 points (1.13%) from the previous trading day.

In the securities market, institutions net bought 460.7 billion KRW, while individuals and foreigners net sold 329.3 billion KRW and 129.3 billion KRW, respectively.

By sector, chemicals (3.80%), steel and metals (3.48%), and electrical and electronics (2.30%) closed higher, while finance (-1.30%), telecommunications (-0.58%), and transportation equipment (-0.43%) closed lower.

Top market capitalization stocks showed mixed trends. Samsung Electronics rose 3.94% to recover to the 58,000 KRW range, while SK Hynix, which posted strong earnings, fell 2.49%. POSCO Holdings (4.17%), Samsung Electronics (3.94%), and Kia (3.02%) closed higher, whereas KB Financial (-4.75%) and Shinhan Financial Group (-3.45%) declined due to profit-taking selling pressure.

The KOSDAQ index closed at 740.48, up 13.07 points (1.80%) from the previous trading day. Foreigners net bought 179.8 billion KRW, but individuals and institutions net sold 154.2 billion KRW and 5.6 billion KRW, respectively.

By sector, finance (3.59%), general electrical and electronics (3.56%), and publishing and media reproduction (1.99%) rose, while medical and precision instruments (-0.29%) closed lower.

Among the top 10 market capitalization stocks, secondary battery stocks such as EcoPro BM (9.14%) and EcoPro (5.37%) rose, and Samchundang Pharmaceutical (4.77%) also increased. Classys (-3.02%), Hugel (-1.30%), and Lino Industrial (-0.17%) closed lower.

Ji-won Kim, a researcher at KB Securities, analyzed, "Domestically, secondary battery and steel sectors rose sharply, while financial stocks such as banks and insurance showed weakness. Following Tesla's strong earnings, industry forecasts suggest that subsidies related to electric vehicles and batteries are unlikely to be fully withdrawn even if Trump is elected, leading to a sharp rise in related stocks such as EcoPro BM by over 9%."