KOSPI Opens Higher on Foreign and Institutional Buying; KOSDAQ Also Rises

The KOSPI index is on the rise in early trading on May 29, driven by buying from foreign investors and institutions.

As of 9:25 a.m. on this day, the KOSPI was trading at 2,694.43, up 24.28 points (0.91%) from the previous day. The index opened at 2,691.06, up 20.91 points (0.78%). Currently, foreign investors have made a net purchase of 18.9 billion KRW, and institutions have made a net purchase of 82.6 billion KRW. Individual investors have made a net sale of 113.2 billion KRW.

The status board in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul, displays the KOSPI and the KRW/USD exchange rate. Photo by Jo Yongjun

Among large-cap stocks, Doosan Enerbility (up 4.40%), HD Korea Shipbuilding & Offshore Engineering (up 3.63%), HD Hyundai Heavy Industries (up 2.89%), Hanwha Aerospace (up 2.40%), Samsung C&T (up 1.85%), Hanwha Ocean (up 1.70%), Kia (up 1.69%), Hyundai Mobis (up 1.57%), and SK Hynix (up 1.32%) are showing gains. In contrast, LG Energy Solution (down 1.21%) and HMM (down 0.46%) are declining.

By sector, machinery and equipment (up 2.92%), construction (up 2.65%), securities (up 2.47%), transportation equipment and parts (up 2.11%), and finance (up 1.99%) are showing strength. On the other hand, entertainment and culture (down 1.90%) and electric and gas (down 0.42%) sectors are weak.

On May 28 (local time), all three major indices on the New York Stock Exchange closed lower after rebounding for just one day. On the New York Stock Exchange, the Dow Jones Industrial Average, which focuses on blue-chip stocks, ended at 42,098.7, down 244.95 points (0.58%) from the previous session. The large-cap S&P 500 index fell 32.99 points (0.56%) to 5,888.55, and the tech-heavy Nasdaq index slipped 98.23 points (0.51%) to close at 19,100.94.

Market participants were cautious ahead of Nvidia's earnings announcement, and reports that the Trump administration is considering restricting the export of semiconductor design software to China fueled selling pressure. However, while Nvidia fell 0.51% during regular trading, it rebounded by more than 6% in after-hours trading after reporting first-quarter earnings that exceeded market expectations.

At the same time, the KOSDAQ index was also up 3.95 points (0.54%) from the previous session, recording 732.74. The index opened at 733.22, up 4.43 points (0.61%). Institutions and individual investors have made net purchases of 6.3 billion KRW and 39.8 billion KRW, respectively. Foreign investors have sold 39.6 billion KRW worth of shares.

Among the top KOSDAQ stocks by market capitalization, HLB (up 2.97%), Sillicontwo (up 2.23%), Rainbow Robotics (up 2.06%), Alteogen (up 1.35%), Celltrion Pharm (up 1.26%), and LIG ChemBio (up 0.87%) are rising. In contrast, Ecopro BM (down 2.03%), Ecopro (down 1.47%), Samchundang Pharm (down 1.41%), and JYP Ent. (down 0.27%) are declining.