Forecast Trend Report by Period
South Korea’s Kospi surged nearly 6% to break above 7,300, lifted by heavy foreign buying in stocks and futures.
As of 10:48 a.m. on May 6, the Kospi was up 404.06 points, or 5.82%, at 7,341.05. The advance was strong enough to trigger a buy-side sidecar on the main board early in the session, temporarily halting the validity of program buy orders.
Foreign investors were net buyers of 1.3171 trillion won worth of shares on the benchmark market. They were also buying 441.7 billion won of Kospi 200 futures. Individuals and institutions, by contrast, were net sellers of 260.9 billion won and 770.5 billion won of stocks, respectively.
Foreign buying was concentrated in semiconductor shares. Samsung Electronics rose 11.61%, while SK Hynix gained 10.09%. SK Square, whose stake in SK Hynix has come into focus, jumped 11.40%.
HD Hyundai Heavy Industries fell 3.38%, while Hanwha Aerospace declined 1.98%.
The Kosdaq slipped 7.57 points, or 0.62%, to 1,206.17. In that market, retail investors were net buyers of 360.1 billion won of shares, while institutions and foreign investors sold 250.8 billion won and 71.5 billion won, respectively.
Most large-cap Kosdaq stocks were trading lower.
EcoPro and EcoPro BM rose 1.6% and 1.86%, respectively.
HLB added 2.13%, while Alteogen and ABL Bio fell 2.28% and 3.55%, respectively.
In Seoul’s foreign-exchange market, the won was trading at 1,457.2 per dollar, up 19.3 won, or 1.31%, 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.
