Summary
- The Kospi broke above the 6,700 level intraday to set another record high, led by Hyundai Motor's 7.44%% surge.
- Institutional investors led the rally with net purchases of 379.2 billion won on the main board, while foreign and retail investors showed mixed trading in cash equities and futures.
- The Kosdaq traded lower, with ABL Bio plunging 19.57%%, EcoPro and EcoPro BM rising, and the won-dollar exchange rate at 1,473.3 won per dollar.
Forecast Trend Report by Period
The Kospi rose above 6,700 intraday on April 28, setting another record high, with Hyundai Motor surging more than 7% to lead the advance.
As of 10:33 a.m., the Kospi was up 81.76 points, or 1.24%, at 6,696.79. After moving in a tight range early in the session, the index gathered momentum and climbed as high as 6,712.73 at about 10:14 a.m.
Institutional investors led the gains, buying a net 379.2 billion won of stocks on the benchmark market. Foreign investors were net sellers of 177.4 billion won in cash equities, but switched to net buying in Kospi 200 futures after heavy selling early in the session. Retail investors sold a net 108.4 billion won.
Most of the market's largest stocks were higher.
Hyundai Motor led the rally, soaring 7.44%.
Samsung Electronics was little changed, while SK Hynix gained 2.48% and SK Square advanced 5.45%.
Hanwha Aerospace and HD Hyundai Heavy Industries fell 1.72% and 1.49%, respectively.
The Kosdaq fell 9.00 points, or 0.73%, to 1,217.18. On that market, retail investors bought a net 636.7 billion won of shares, while foreign and institutional investors sold 556.7 billion won and 68.8 billion won, respectively.
Most of the Kosdaq's largest stocks were higher.
ABL Bio, however, plunged 19.57% after the securities industry assessed clinical results announced by a partner that licensed the company's cancer drug candidate as a failure.
EcoPro and EcoPro BM rose 2.75% and 1.93%, respectively, while HLB added 2.26%.
Alteogen and Samchundang Pharm fell 1.72% and 2.36%, respectively.
In Seoul's foreign-exchange market, the won traded at 1,473.3 per dollar, down 0.3 won, or 0.02%, from the previous session.
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.
