Kospi Hits Fresh Intraday High; Samsung Electro-Mechanics Enters Top 10 by Market Value
Summary
- The Kospi set another intraday record in early trading as heavy net buying by retail investors lifted the index, though gains were capped by selling from foreign investors and institutions.
- Samsung Electro-Mechanics rose 2.77%% to enter the Kospi's top 10 by market capitalization, while LG Energy Solution, SK Hynix and SK Square also traded higher.
- The Kosdaq fell as net buying by retail investors was met by selling from foreign and institutional investors, with only EcoPro and EcoPro BM advancing while ABL Bio tumbled.
Forecast Trend Report by Period
The Kospi rose in early trading on April 28 to another intraday record, driven by heavy buying from retail investors. Gains were capped by selling from foreign and institutional investors.
As of 9:06 a.m., the Kospi was up 23.96 points, or 0.36%, at 6,638.99.
Retail investors were net buyers of 1.1663 trillion won worth of shares on the main board. Foreign investors and institutions were net sellers of 724.4 billion won and 372.2 billion won, respectively.
Trading among the market's biggest companies was mixed. Samsung Electronics fell 0.89%, while SK Hynix rose 1.39%. SK Square gained 2.41%.
LG Energy Solution, which fell sharply the previous day, rose 2.48%.
Hanwha Aerospace and HD Hyundai Heavy Industries dropped 2.34% and 1.34%, respectively.
Samsung Electro-Mechanics climbed 2.77%, overtaking Kia to move into the Kospi's top 10 by market capitalization.
The Kosdaq fell 12.43 points, or 1.01%, to 1,213.75. On that market, retail investors were net buyers of 316.9 billion won worth of shares, while foreign investors and institutions sold 279.3 billion won and 28.2 billion won, respectively.
Most large-cap Kosdaq stocks were lower.
EcoPro and EcoPro BM rose 4.99% and 3.37%, respectively.
All other major stocks were in negative territory.
ABL Bio plunged 18.76%.
In Seoul's foreign-exchange market, the won traded at 1,474.3 per dollar, up 0.7 won from the previous session.
US stocks finished mixed on April 27 as investors stayed on the sidelines ahead of earnings from big technology companies and the Federal Reserve's Federal Open Market Committee meeting. The impact of stalled US-Iran negotiations on equities appeared to be fading. The Dow Jones Industrial Average fell 62.92 points, or 0.13%, to 49,167.79 on the New York Stock Exchange. The S&P 500 rose 8.83 points, or 0.12%, to 7,173.91, while the Nasdaq Composite added 50.50 points, or 0.20%, to 24,887.10.
Han Gyeong-u, 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.
