KOSPI Rises 1.32% Compared to Previous Trading Day
KOSDAQ Also Increases 2.93% from Previous Trading Day
The KOSPI and KOSDAQ both closed higher, buoyed by sharp gains in their leading stocks, Samsung Electronics and Alteogen, respectively.
On the 25th, the KOSPI index closed at 2,534.34, up 1.32% from the previous trading day. The KOSPI started the day with a rise and even reached an intraday high of 2,541.76 points.
Individuals and foreigners sold net amounts of 454.6 billion KRW and 73 billion KRW, respectively, while institutions bought a net 454.2 billion KRW.
By sector, electrical and electronics (2.80%), pharmaceuticals (2.19%), and construction (1.79%) closed higher, whereas steel and metals (-1.45%), food and beverages (-1.27%), and transportation equipment (-0.92%) ended lower.
Among the top 10 stocks by market capitalization, LG Energy Solution (3.58%), Samsung Electronics (3.39%), and Samsung Biologics (2.57%) closed higher, while Kia (-0.61%) and KB Financial Group (-0.41%) declined.
Samsung Electronics showed a strong gain of over 3%, supported by sustained expectations of supply to Nvidia following remarks by Jensen Huang, Nvidia’s CEO, over the weekend. Bloomberg reported on the 23rd (local time) that CEO Huang stated at the Hong Kong University of Science and Technology honorary doctorate ceremony that they are working as quickly as possible to approve Samsung Electronics’ AI memory chip supply.
Among individual stocks, travel-related shares rose together on news that the visa-free entry period for Koreans into China, which began on the 8th, was extended from 15 days to 30 days as of the 22nd. Secondary battery stocks also rose on expectations of a positive impact following the news that Northvolt, a European market competitor, filed for bankruptcy protection.
On the same day, the KOSDAQ index closed at 696.83, up 2.93% from the previous trading day. The index started higher and maintained a positive trend throughout the session.
In the KOSDAQ market, foreigners and institutions bought net amounts of 63.8 billion KRW and 125.1 billion KRW, respectively, while individuals sold a net 192.9 billion KRW.
Among the top 10 stocks by market capitalization, Alteogen surged 13.36% after dismissing the possibility of patent infringement. EcoPro BM (4.80%) and EcoPro (4.37%) also rose, while Hugel (-2.21%) and Classys (-1.34%) closed lower.
Researchers Ji-won Kim and Jeong-eun Lim commented, "Samsung Electronics and Alteogen led the index higher, and several uncertainties were resolved. Both markets showed strong gains for the first time in a while."
The two researchers added, "This week, we look forward to the rebound continuing as we review the minutes of the U.S. Federal Open Market Committee (FOMC) on the 27th, the Bank of Korea’s Monetary Policy Committee meeting on the 28th, and the U.S. October Personal Consumption Expenditures (PCE) price index results."
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