Kospi Briefly Reclaims 7,000 in Early Trade on Foreign and Institutional Buying; Samsung Electronics Up 3.45%
Summary
- The Kospi reclaimed the 7,000 level in early trading on net buying by foreign and institutional investors.
- Among large-cap stocks, semiconductor shares including Samsung Electronics and SK Hynix led the index higher.
- The Kosdaq remained slightly lower as foreign and institutional investors were net sellers despite net buying by retail investors.
Forecast Trend Report by Period
South Korea’s Kospi opened higher on September 21 and briefly reclaimed the 7,000 level in early trading as foreign and institutional investors bought shares.
As of 9:07 a.m., the Kospi was up 96.31 points, or 1.40%, at 6,990.54 from the previous session. The index opened 44.11 points, or 0.64%, higher at 6,938.34, then moved above 7,000 before paring some of its gains.
Foreign and institutional investors were leading the advance. In the benchmark stock market, foreigners were net buyers of 132.8 billion won and institutions bought a net 69.0 billion won. Foreign investors also posted net purchases of 118.3 billion won in the Kospi 200 futures market. Retail investors were net sellers of 236.9 billion won.
Among large-cap stocks, semiconductor shares were strong. Samsung Electronics rose 3.45% and SK Hynix gained 1.24%. Samsung Electro-Mechanics climbed 3.10%, SK Square added 2.87%, Samsung C&T rose 2.71%, and Samsung Life Insurance gained 2.47%. LG Energy Solution fell 1.51%, while Hyundai Motor slipped 0.68%.
The Kosdaq, unlike the Kospi, was little changed. At the same time, the Kosdaq index slipped 0.32 point, or 0.04%, to 826.80. Retail investors were net buyers of 144.1 billion won, while foreigners and institutions were net sellers of 110.0 billion won and 29.6 billion won, respectively.
On the Kosdaq, Alteogen rose 1.38%. Semiconductor materials, parts and equipment stocks also traded higher, with Wonik IPS up 3.37%, Simmtech gaining 1.35%, and EO Technics rising 1.32%. Ecopro BM fell 1.24%, Ecopro lost 0.99%, and Jusung Engineering slipped 0.49%.
In Seoul’s foreign-exchange market, the won was trading at 1,387.1 per dollar, up 1.6 won, or 0.12%, from the previous session.
