KOSPI turns to intraday gains despite mixed U.S. markets… fluctuates around the 4,130 level

Korea Economic Daily

Summary

The KOSPI index turned higher thanks to buying by institutional investors despite mixed U.S. markets.
Some large-cap stocks such as Samsung Electronics and SK Hynix fell, but securities stocks like Samsung Securities and Korea Financial Group were strong due to solid third-quarter results.
On the KOSDAQ, ABL Bio recorded a limit-up following news of a technology transfer agreement with Eli Lilly.

Securities and Biopharma Strength

The KOSPI index turned to intraday gains despite mixed U.S. markets.

As of 11:00 a.m. on the 12th, the KOSPI index was at 4,134.49, up 0.68% from the previous day. Having opened down 0.22%, the KOSPI wavered in the early session but shifted to an upward direction as buying from institutional investors flowed in.

As of this time in the KOSPI market, institutional and individual investors have net bought KRW 260.5 billion and KRW 33.2 billion, respectively. Foreigners are net sellers by KRW 313.9 billion.

Top market-cap stocks are showing mixed movements. Weakening sentiment toward U.S. tech stocks has Samsung Electronics and SK Hynix down 0.34% and 0.65%, respectively.

Hyundai Motor, KB Financial, Doosan Enerbility, and Hanwha Aerospace are rising. Samsung Securities and Korea Financial Group are strong on the back of solid third-quarter results.

The KOSDAQ index is at 899.73, up 1.75% from the previous day as of this time. On the KOSDAQ market, ABL Bio surged to the daily limit after news of a technology transfer deal worth KRW 3.8 trillion with Eli Lilly.

Noh Jeong-dong, Hankyung.com reporter dong2@hankyung.com