KOSPI Sees Net Foreign Selling After Nine Sessions
Index Nears 3,000 Mark on Institutional Buying
Most Sectors Gain; Samsung Electronics Drops
On June 16, both the KOSPI and KOSDAQ markets closed higher. The KOSPI index, buoyed by institutional buying, moved significantly closer to the 3,000-point mark.
On this day, the KOSPI finished trading at 2,946.66, up 1.80% from the previous session. The index opened at 2,903.50, an increase of 0.31% from the previous close, and steadily expanded its gains throughout the session. Individuals and institutions were net buyers, purchasing 45.4 billion won and 252.9 billion won respectively, while foreigners sold a net 322.4 billion won.
Most sectors posted gains. The largest increases were seen in machinery and equipment (5.63%), construction (5.22%), IT services (4.82%), securities (4.06%), finance (2.85%), distribution (2.79%), insurance (2.09%), and telecommunications (1.71%). In contrast, real estate (-0.83%), paper and wood (-0.43%), medical and precision instruments (-0.23%), and pharmaceuticals (-0.20%) declined.
Among the top 10 stocks by market capitalization, SK Hynix (5.31%), Hanwha Aerospace (2.65%), Hyundai Motor (1.26%), KB Financial Group (1.70%), HD Hyundai Heavy Industries (5.03%), and Kia (0.31%) closed higher. Meanwhile, Samsung Electronics (-1.89%), Samsung Biologics (-0.39%), and LG Energy Solution (-1.01%) ended lower.
On the same day, the KOSDAQ closed at 777.26, up 1.09% from the previous session. The index started at 767.64, down 0.16% from the previous close, but reversed course early in the session and continued to climb. Individuals sold a net 149.1 billion won, while foreigners and institutions bought 116.3 billion won and 41.9 billion won respectively, driving the market higher.
By sector, all categories except chemicals (-0.29%) and paper and wood (-0.13%) rose. The largest gains were in telecommunications (4.44%), food, beverage, and tobacco (2.85%), IT services (1.77%), metals (1.70%), distribution (1.68%), medical and precision instruments (1.04%), and finance (0.96%).
Among the top KOSDAQ stocks by market capitalization, Alteogen (5.19%), Pharmaresearch (5.65%), Hugel (3.23%), Peptron (0.70%), Legochem Bio (5.14%), and Classys (1.00%) closed higher. In contrast, Ecopro BM (-2.17%), HLB (-3.23%), Ecopro (-1.75%), and Rainbow Robotics (-0.18%) declined.
Kim Jiwon, a researcher at KB Securities, stated, "Unlike the US stock market, which fell due to concerns about inflation stemming from uncertainty over the escalation of conflict in the Middle East and a sharp rise in oil prices, the domestic market started mixed but expanded its gains by the close." She added, "For the time being, the market is expected to remain cautious and closely monitor the ongoing war between Israel and Iran."
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