On October 23, the KOSPI made history by surpassing the 3,900 mark during trading hours for the first time ever, but ultimately closed lower after a roller-coaster session.
On this day, the KOSPI closed at 3,845.56, down 38.12 points (0.98%) from the previous day. The index had opened at 3,835.79, down 47.89 points (1.23%), but hit an all-time high by breaking through the 3,900 mark during the session, only to reverse course and end in negative territory.
While foreign investors and institutions sold off 409 billion won and 397.2 billion won worth of shares, respectively, individual investors supported the index by making a net purchase of 747.4 billion won. In the KOSPI 200 futures market, institutions bought 407.9 billion won, while individuals and foreign investors recorded net sales of 295.6 billion won and 64.2 billion won, respectively.
Lim Jeongeun, a researcher at KB Securities, commented, "The KOSPI opened lower due to weakness in the US stock market, but showed a remarkable rally based on individual buying, touching the 3,900 mark for the first time in history. However, as profit-taking pressures mounted, the index closed lower." She added, "Although today's session saw a pause due to exchange rate volatility and profit-taking, we expect the robust market trend to continue."
Most of the top KOSPI market cap stocks closed lower. Hyundai Motor (-3.45%), Doosan Enerbility (-3.42%), Kia (-2.62%), Samsung Electronics (-2.13%), LG Energy Solution (-1.54%), Samsung Biologics (-0.94%), KB Financial Group (-0.86%), HD Hyundai Heavy Industries (-0.69%), and SK Hynix (-0.62%) all declined. Hanwha Aerospace rose by 4.17%.
On the same day, the KOSDAQ closed at 872.03, down 7.12 points (0.81%). The index had opened at 874.13, down 5.02 points (0.57%), and briefly turned positive during the session, but reversed to the downside and extended its losses. While institutions purchased 427.9 billion won worth of shares, individuals and foreign investors sold 302 billion won and 75.1 billion won, respectively.
Top KOSDAQ market cap stocks ended the session mixed. EcoPro (-6.75%), EcoPro BM (-3.51%), Samchundang Pharm (-2.67%), Rainbow Robotics (-1.92%), Peptron (-1.91%), ABL Bio (-1.51%), and LIG ChemBio (-1.47%) declined. HLB (0.34%), Alteogen (0.33%), and PharmaResearch (0.18%) closed higher.
By sector, trade (+8.12%), electrical equipment (+7.51%), internet retail (+3.80%), aerospace and defense (+2.93%), and specialty retail (+2.19%) rose. In contrast, media services (-4.17%), electric utilities (-3.42%), health care technology (-3.19%), and automobiles (-2.88%) closed lower.
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