KOSPI Heads Toward 3200... Up 1.6% in a Day

Samba and SK hynix Jump 5%
Foreign Investors Drive Buying... KOSDAQ Also Up 1%

The KOSPI index soared once again, forming another pillar of gains. It has reached its highest closing level in about four years and is now eyeing the 3,200 mark. The KOSDAQ is also showing signs of targeting the 800 level once again.

On July 10, the KOSPI closed at 3,183.23, up 1.58% from the previous day. Not only did it set a new yearly high, but it also recorded its highest closing figure in about four years since September 7, 2021, when it closed at 3,187.42.

Net buying by both foreign investors and institutions pushed the index higher. Foreign investors bought a net 484 billion KRW, while institutions purchased a net 53.1 billion KRW. Individual investors sold a net 594.3 billion KRW.

Unlike the early session, almost all sectors turned upward. Many sectors rose by more than 1%, including pharmaceuticals (3.81%), electrical and electronics (2.68%), chemicals (2.24%), manufacturing (1.98%), retail (1.78%), securities (1.62%), and finance (1.02%). Only construction (-0.75%) and machinery & equipment (-0.33%) posted slight declines.

Most of the top 10 stocks by market capitalization also rose. Samsung Biologics posted the largest gain at 5.8%. SK hynix rose 4.9%. Other notable increases included LG Energy Solution (3.2%), Naver (2.3%), Samsung Electronics (1.1%), Kia (0.5%), and Hanwha Aerospace (0.1%). On the other hand, Doosan Enerbility (-1.7%), KB Financial Group (-1.2%), and Hyundai Motor (-0.4%) declined.

The KOSDAQ also ended higher, closing at 797.70, up 0.93%. After surpassing the 800 mark at the close on June 24 and then declining, it is now showing an upward trend again.

In the KOSDAQ market, only foreign investors were net buyers, purchasing 169.1 billion KRW. Individual investors and institutions were net sellers, offloading 39.7 billion KRW and 147.5 billion KRW, respectively.

Again, a majority of sectors posted gains. The general services sector surged by 4.51%. Other notable increases included non-metallics (1.40%), transportation & storage (0.99%), construction (0.86%), and finance (0.73%). On the other hand, entertainment & culture (-0.46%) and textiles & apparel (-0.44%) declined.

Most of the top 10 market capitalization stocks also showed gains. LIG ChemBio soared by 14.6%, and Alteogen rose 5.0%. Other notable increases were HLB (2.4%), Peptron (1.9%), Rainbow Robotics (1.5%), EcoPro BM (1.0%), and EcoPro (0.8%). In contrast, PharmaResearch (-5.2%) and Hugel (-1.8%) declined.