Kospi Tops 5,900 Intraday as Foreigners Turn Net Buyers in Stocks, Futures
Summary
- Foreign investors turned net buyers of both stocks and futures, helping the Kospi break above 5,900 in intraday trading.
- After news that the Bank of Korea held its benchmark rate steady, foreign and institutional investors turned net buyers of cash equities on the main board.
- On the Kosdaq, foreign investors were net buyers while retail and institutional investors were net sellers, with most large-cap stocks trading lower.
Forecast Trend Report by Period
The Kospi advanced after foreign investors turned net buyers of both stocks and futures.
As of 10:15 a.m. on April 10, the Kospi was trading at 5,901.14, up 123.13 points, or 2.13%, from the previous session.
The index climbed as high as 5,898.87 early in the session before paring gains. It regained momentum after foreigners switched to net buying.
Foreign investors were net sellers on the Kospi shortly after the open, but had turned net buyers of 125 billion won by midmorning. They also reversed course in Kospi 200 futures, buying a net 475 billion won after opening as sellers. Institutional investors likewise turned net buyers in the cash market, with net purchases of 178.7 billion won. Around 9:50 a.m., foreign flows shifted to net buying after news broke that the Bank of Korea had left its benchmark interest rate unchanged.
Retail investors, who had been buying stocks early in the session, turned net sellers and were offloading 400.4 billion won.
Most of the market's biggest companies were higher.
Samsung Electronics and SK Hynix rose 2.7% and 3.71%, respectively, while SK Square gained 3.57%.
Hanwha Aerospace added 2.76%.
Hyundai Motor and Kia advanced 0.41% and 0.07%, respectively.
By contrast, LG Energy Solution fell 1.07% after reporting earnings that missed expectations, while Doosan Enerbility was little changed.
The Kosdaq rose 16.54 points, or 1.54%, to 1,092.54. In that market, foreign investors were net buyers of 151.1 billion won worth of shares, while retail and institutional investors sold a net 109.3 billion won and 43.9 billion won, respectively.
Most of the Kosdaq's largest companies were lower.
Ecopro was little changed, while Ecopro BM fell 0.73%.
Alteogen lost 1.22%, Samchundang Pharm dropped 2.38%, and Kolon TissueGene slid 2.71%.
By contrast, LigaChem Biosciences rose 3.05% and Rainbow Robotics added 0.71%.
In Seoul foreign-exchange trading, the won weakened 3.7 won, or 0.25%, to 1,478.4 per dollar.
Han Kyung-woo, Hankyung.com reporter, case@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.
