Summary
- The KOSPI said it reclaimed the 5,900 level on the back of institutional buying.
- It said Samsung Electronics and SK Hynix strengthened, boosting expectations for “200,000-won Samsung” and “1,000,000-won Hynix.”
- It said in the KOSDAQ market, retail investors turned net buyers while foreigners and institutions were net sellers.
The KOSPI on the 24th turned higher on institutional buying and extended gains to reclaim the 5,900 level intraday. Despite a chill from the U.S., semiconductor heavyweights Samsung Electronics and SK Hynix are leading the index higher on strong performance. The two are also close to the much-watched milestones dubbed “200,000-won Samsung” and “1,000,000-won Hynix.”
As of 10:39 a.m., the KOSPI was up 58.11 points (0.99%) from the previous session at 5,904.2. After opening 0.13% higher, the index briefly turned lower early in the session, widening losses to as much as 1.21%. Around 10:07 a.m., it reversed course and expanded gains to more than 1%.
In the main board market, institutions are driving the rise by buying 669.8 billion won worth of shares. Retail investors and foreigners, meanwhile, sold 463.8 billion won and 214.4 billion won, respectively.
In particular, Samsung Electronics and SK Hynix helped flip market sentiment. Samsung Electronics traded near the record high set the previous day, while SK Hynix climbed as high as 996,000 won intraday to set yet another record, fueling expectations for “1,000,000-won Hynix.”
Among the KOSPI’s top market-cap names, LG Energy Solution, SK Square, Samsung Biologics, Celltrion and Samsung C&T were higher, while Hyundai Motor, Kia, Doosan Enerbility, Hanwha Aerospace, KB Financial Group and HD Hyundai Heavy Industries were lower.
The KOSDAQ was up 10.2 points (0.89%) at 1,162.19 at the same time. After opening 0.67% higher, the index swung between gains and losses early on before firming into an uptrend from around 9:30 a.m.
In the KOSDAQ market, retail investors bought 108.4 billion won worth of shares, while foreigners and institutions sold 51.1 billion won and 41.5 billion won, respectively.
Among the top market-cap names on the KOSDAQ, EcoPro, Alteogen, EcoPro BM, Rainbow Robotics, ABL Bio, HLB, LigaChem Bio and Peptron were higher, while Samchundang Pharmaceutical, Kolon TissueGene, Caregen and RHINO Industrial were lower.
By Ko Jeong-sam, Hankyung.com reporter jsk@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
