Kospi Rises Above 6,260 on Institutional Buying; Doosan Enerbility Gains Nearly 5%
Summary
- The Kospi rose to 6,267.45, helped by institutions’ net buying of 298.2 billion won and foreign investors’ purchases of 203.8 billion won in Kospi 200 futures.
- Large-cap stocks including Samsung Electronics, SK Hynix, SK Square, LG Energy Solution and Doosan Enerbility were broadly higher, leading the index’s advance.
- On the Kosdaq, the index also climbed to 1,183.34 on net buying by foreign investors and retail investors, while the won-dollar exchange rate rose to 1,475.8 won.
Forecast Trend Report by Period
South Korea’s Kospi climbed above the mid-6,200 level on April 20, supported by institutional buying. Foreign investors also added to the advance through purchases of stock-index futures.
As of 10:36 a.m., the Kospi was up 75.53 points, or 1.22%, at 6,267.45. The benchmark moved in and out of flat territory early in the session before strengthening as institutions expanded net purchases.
Institutions were net buyers of 298.2 billion won worth of shares on the main board. Foreign and retail investors were net sellers of 294.1 billion won and 62.7 billion won, respectively. Foreign investors, however, bought 203.8 billion won of Kospi 200 futures.
Most large-cap stocks were higher.
Samsung Electronics rose 0.81%, SK Hynix gained 3.10% and SK Square advanced 4.25%.
LG Energy Solution climbed 4.01%.
Doosan Enerbility added 4.98%.
Hyundai Motor was little changed.
The Kosdaq rose 13.30 points, or 1.14%, to 1,183.34. In that market, foreign and retail investors were net buyers of 39.1 billion won and 19.4 billion won of shares, respectively, while institutions sold 52.7 billion won.
Most of the Kosdaq’s largest stocks also traded higher.
Ecopro and Ecopro BM rose 3.09% and 0.96%, respectively.
Alteogen gained 3.42%, Kolon TissueGene rose 1.69%, ABL Bio added 0.68%, HLB advanced 1.28% and LigaChem Biosciences climbed 3.09%. Samchundang Pharm was little changed.
In Seoul’s foreign-exchange market, the won-dollar rate rose 15.8 won, or 1.08%, to 1,475.8 won 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.
