Foreigners Resume Net Buying, KOSPI Recovers to 2480 Level... KOSDAQ Also Closes Higher

Supported by net buying from foreigners, the KOSPI index closed higher on the 18th.

On that day, the KOSPI closed at 2484.43, up 27.62 points (1.12%) from the previous trading day. The index started at 2463.06, up 6.25 points (0.25%), and expanded its gains. Foreigners and institutions net bought stocks worth 268 billion KRW and 134 billion KRW, respectively. Individuals sold stocks worth 463.3 billion KRW on their own.

Stock prices, exchange rates, and other indices are displayed in the dealing room of Hana Bank's Euljiro headquarters in Seoul. Photo by Heo Young-han

Among the top market capitalization stocks, Kia (6.37%), Hyundai Mobis (5.22%), Hyundai Motor (4.84%), KB Financial Group (3.32%), Celltrion (3.11%), Shinhan Financial Group (2.77%), Meritz Financial Group (2.67%), Samsung C&T (2.15%), and POSCO Holdings (1.70%) rose. On the other hand, Korea Zinc (-4.14%), SK Hynix (-0.27%), and LG Energy Solution (-0.26%) declined.

By sector, transportation equipment (3.29%), securities (2.29%), machinery equipment (2.15%), pharmaceuticals (1.68%), construction (1.52%), insurance (1.43%), and finance (1.40%) rose. Conversely, metals (-0.99%) and medical precision (-0.51%) sectors fell.

Ji-won Kim, a researcher at KB Securities, said, "The domestic stock market attracted buying interest due to the perception that 'the previous day's decline was excessive,' rather than caution ahead of major countries' interest rate decisions." He added, "With foreigners switching to net buying in both spot and futures markets and expanding their purchase scale, the KOSPI rebounded by over 1%. Rather than clear leading sectors, most of the top market capitalization stocks showed broad strength. Low-price buying interest flowed mainly into sectors such as automobiles, finance, and defense, which had recently experienced significant declines."

The KOSDAQ index recorded 697.57, up 3.10 points (0.45%) from the previous session. The index started at 694.94, up 0.47 points (0.07%), fluctuated throughout the day, and ultimately closed higher. Individuals bought stocks worth 44.7 billion KRW, while foreigners and institutions sold stocks worth 20.1 billion KRW and 6.2 billion KRW, respectively.

Among the top market capitalization stocks, Samchundang Pharmaceutical (5.44%), Celltrion Pharm (4.29%), Hugel (3.34%), Shinseong Delta Tech (3.11%), L&F (2.91%), JYP Ent. (2.75%), HPSP (1.66%), and Pearl Abyss (1.59%) rose. On the other hand, Lunit (-10.26%), Kolon TissueGene (-6.90%), Peptron (-4.84%), PharmaResearch (-2.70%), Ligand Bio (-1.52%), Alteogen (-1.49%), and Classys (-1.03%) declined.

Researcher Ji-won Kim analyzed, "The KOSDAQ saw mixed movements among large-cap stocks. While secondary battery stocks rebounded after a sharp drop the previous day, weakness in some pharmaceutical and bio stocks and poor performance of individual stocks limited the index's rise."