New Intraday All-Time High Set
KOSDAQ Also Rises Nearly 1%
On September 10, the KOSPI surged past the 3,310 mark, setting a new all-time closing high, driven by strong buying from both foreign and institutional investors. The KOSDAQ finished slightly higher, closing above the 830 mark.
On this day, the KOSPI closed at 3,314.53, up 1.67% from the previous trading session. This marks the first time in four years and two months that the index has reached a record closing high. The previous record was 3,305.21, set on July 6, 2021. The index opened at 3,272.20, up 0.37% from the previous session, and continued to climb throughout the day. At one point in the afternoon, it soared to 3,317.77, setting a new intraday all-time high, surpassing the previous intraday record of 3,316.08 set on June 25, 2021.
By investor type, foreign investors and institutions led the rally by purchasing 1.378 trillion won and 902.9 billion won, respectively. In contrast, individual investors sold off 2.2545 trillion won, realizing profits.
Most sectors ended higher. Securities (3.59%), finance (2.83%), construction (2.74%), electrical and electronics (2.37%), non-metallic minerals (2.09%), transportation and storage (1.86%), insurance (1.67%), electricity and gas (1.66%), manufacturing (1.49%), retail (1.34%), machinery and equipment (1.26%), metals (1.15%), medical and precision instruments (1.00%), and transportation equipment and parts (0.99%) all posted gains in that order. Due to the sharp rise in the KOSPI, the volatility index jumped by 8.7%. On the other hand, pharmaceuticals (-0.25%), chemicals (-0.16%), and textiles and apparel (-0.18%) declined.
Among the top 10 stocks by market capitalization, Samsung Electronics (1.54%), SK Hynix (5.56%), Hanwha Aerospace (2.33%), Hyundai Motor (0.68%), KB Financial Group (7.01%), and Kia (0.47%) ended higher, while LG Energy Solution (-1.87%) and Samsung Biologics (-0.67%) declined.
On the same day, the KOSDAQ closed at 833.00, up 0.99% from the previous session. The index started at 828.40, up 0.43% from the previous day, gave back some gains, but eventually resumed its upward trend.
Foreign investors and institutions were net buyers, purchasing 78.9 billion won and 62.8 billion won, respectively, while individual investors were net sellers, offloading 133.2 billion won.
Most sectors in the KOSDAQ market also showed gains. Non-metallic minerals (3.15%), metals (3.03%), transportation equipment and parts (2.28%), machinery and equipment (1.78%), telecommunications (1.76%), IT services (1.45%), entertainment and culture (1.31%), textiles and apparel (1.30%), manufacturing (0.95%), chemicals (0.90%), retail (0.78%), and finance (0.59%) all rose in that order. In contrast, construction (-1.13%) and medical and precision instruments (-0.06%) ended lower.
Among the top KOSDAQ stocks by market capitalization, Alteogen (1.99%), Rainbow Robotics (3.41%), Legochem Biosciences (0.07%), HLB (1.71%), and Samchundang Pharm (5.69%) rose. On the other hand, Ecopro BM (-1.78%), Peptron (-0.34%), Ecopro (-0.81%), PharmaResearch (-4.61%), and ABL Bio (-0.10%) declined.
Kim Jiwon, a researcher at KB Securities, commented, "There is a possibility of increased volatility depending on the results of the U.S. inflation indicators scheduled for today and tomorrow. After a seven-session rally, upward fatigue has accumulated, and it is necessary to consider the possibility of profit-taking selling pressure emerging."
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