KOSPI Recovers to 2400 Amid Foreign and Institutional 'Buying'

Dealers are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. Photo by Jo Yong-jun

On the 30th, the Korean stock market started lower but rebounded. The KOSPI recovered the 2400 level due to net buying by foreigners and institutions.

At 9:06 AM, the KOSPI was trading at 2407.41, up 0.11% (2.64 points) from the previous trading day. The KOSPI opened at 2397.49, down 0.30% (7.28 points) from the previous close, but soon succeeded in rebounding.

Foreigners and institutions are driving the index with net purchases of 10.4 billion KRW and 26.1 billion KRW, respectively. Only individuals are net selling with 37.7 billion KRW. In the futures market, institutions alone are selling 39.8 billion KRW, while individuals and foreigners are buying 5.4 billion KRW and 13.2 billion KRW, respectively.

Among the top 10 stocks by market capitalization, only the semiconductor sector is weak. Samsung Electronics is down 0.56%, and SK Hynix is down 0.46%. However, LG Energy Solution is up 2.16%, and Samsung Biologics is up 1.28%, showing notable gains.

At 9:11 AM, the KOSDAQ was at 668.50, up 0.38% (2.53 points) from the previous trading day. The KOSDAQ opened at 662.68, down 0.49% (3.29 points) from the previous close, but then rebounded.

Right after the opening, foreigners and institutions both started buying on the KOSDAQ, but at this time only foreigners are net buying 7.1 billion KRW. Individuals are net selling 4.7 billion KRW, and institutional trading is flat.

Among the top 10 stocks by market capitalization, Ligakem Bio is up 2.89%, Shinseong Delta Tech is up 2.73%, and Samchundang Pharmaceutical is up 2.52%, showing notable gains. Classys is down 0.52%, and Lino Industrial is down 0.57%.