KOSPI Closes at 3,183.77
Auto Stocks Surge on US-Japan Tariff Deal
KOSDAQ Ends at 813.56
The KOSPI fluctuated throughout the session on the 23rd before closing with a slight gain. This appears to reflect increased caution among investors ahead of major corporate earnings announcements later in the week.
On this day, the KOSPI index closed at 3,183.77, up 13.83 points (0.44%) from the previous session.
While individual investors recorded a net selling amount of 683.1 billion won, foreign investors and institutions made net purchases of 316.4 billion won and 292.3 billion won respectively, helping to prevent the index from declining.
On the 23rd, the KOSPI and Japan's Nikkei indices were displayed in the dealing room of Hana Bank's headquarters in Jung-gu, Seoul. On that day, the KOSPI index closed at 3,183.77, up 13.83 points (0.44%) from the previous session. Photo by Yonhap News
The KOSPI opened at 3,189.65, up 19.71 points (0.62%) from the previous session, following news of a trade agreement between the United States and Japan, and at one point reached 3,199.86.
However, the rally lost momentum due to weakness in major semiconductor stocks, causing the index to fall back to 3,141.93 before rebounding. Still, it was unable to recover the 3,200 level. The market was characterized by a wait-and-see approach ahead of earnings releases from major companies such as SK hynix (scheduled for the 24th), KB Financial Group (24th), and Hyundai Motor (24th).
Among large-cap stocks, Hyundai Motor (up 7.51%) and Kia (up 8.49%) performed strongly, reflecting the impact of the US-Japan trade agreement. Other gainers included Samsung Electronics (up 0.61%), SK hynix (up 0.19%), LG Energy Solution (up 0.90%), KB Financial Group (up 0.61%), Doosan Enerbility (up 1.28%), and Samsung Biologics (up 2.11%). Hanwha Aerospace declined by 1.30%.
Steel stocks also rose. This was attributed to expectations that a reduction in steel production in China would provide breathing room for the domestic steel industry. In addition, it was reported that the United States and Japan had agreed to jointly establish a joint venture (JV) for the Alaska liquefied natural gas (LNG) project, and the fact that the US has repeatedly expressed its hope for Korea's participation in the project also had an impact.
The KOSDAQ closed at 813.56, up 0.59 points (0.07%) from the previous session.
Individual investors recorded a net purchase of 146.9 billion won, while institutions and foreign investors posted net sales of 107.2 billion won and 32.4 billion won, respectively.
Among the top KOSDAQ stocks by market capitalization, Samchundang Pharm (up 29.71%), ABL Bio (up 5.92%), and Caregen (up 4.24%) rose, while Lino Industrial (down 4.2%) fell.
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