KOSPI Rises to 2,970 on Foreign and Institutional Net Buying, Hits Year's High

The KOSPI closed at its highest level of the year, supported by net buying from foreign investors and institutions.

On June 18, the KOSPI rose by 21.89 points (0.74%) from the previous trading day to close at 2,972.19.

The index opened at 2,933.63, down 0.57% from the previous session. In the early session, both foreign investors and institutions were net sellers. However, as the session progressed, they reduced their net selling and turned to net buying, which expanded the index's gains and pushed it up to an intraday high of 2,979.32.

By investor type, foreign investors and institutions recorded net purchases of 253.7 billion won and 102.4 billion won, respectively. In contrast, individual investors were net sellers of 382.6 billion won.

By sector, IT services surged by 8.74%. In addition, electric and gas, entertainment and culture, machinery and equipment, chemicals, transportation and storage, and securities all rose by more than 1%. On the other hand, insurance declined by 2.86%, while distribution and construction also fell by more than 1%.

Among large-cap stocks, Samsung Electronics rose by 1,700 won (2.93%) from the previous session to close at 59,800 won. NAVER also jumped by 17.92%, and Doosan Enerbility climbed by 2.69%.

Conversely, Hanwha Aerospace dropped by 2.83%, while Shinhan Financial Group, HD Hyundai Heavy Industries, and SK Hynix all fell by more than 1%.

On the KOSPI, a total of 428 stocks gained, including three stocks that hit the upper price limit such as Shinpoong Pharm and Kolmar Holdings. Meanwhile, 458 stocks declined without any hitting the lower price limit, and 51 stocks remained unchanged.

The KOSDAQ rose by 4.08 points (0.53%) from the previous session to close at 779.73.

By investor type, individuals and institutions were net buyers of 30 billion won and 44 billion won, respectively. In contrast, foreign investors were net sellers of 77 billion won.

By sector, telecommunications rose by 3.95%, while finance and textiles and apparel increased by more than 1%. On the other hand, other manufacturing and metals declined slightly.

Among KOSDAQ large-cap stocks, Alteogen fell by 2,500 won (0.63%) from the previous session to close at 395,000 won. In addition, LegoChem Biosciences and ABL Bio both dropped by more than 4%, and Samchundang Pharm also declined by 3.02%. In contrast, Hugel rose by 6.82%, and Lino Corporation climbed by 3.72%. Silicon Two and PharmaResearch both gained more than 2%.

On the KOSDAQ, 897 stocks advanced, including eight stocks that hit the upper price limit such as Invenia, VQAI, NFC, and Neofect. Meanwhile, 716 stocks declined without any hitting the lower price limit, and 108 stocks remained unchanged.