Kospi Jumps 4.5% as Foreign and Institutional Investors Snap Up $1.5 Billion; Buy Sidecar Triggered
Summary
- The Kospi surged more than 4% intraday, triggering a buy-side sidecar, as foreign and institutional investors turned net buyers together.
- Foreign investors were net buyers of 452.1 billion won, while institutions bought 1.6746 trillion won. Retail investors, by contrast, were net sellers of 2.0805 trillion won.
- Samsung Electronics rose 7.17% and SK Hynix gained 6.35%, with large-cap semiconductor shares leading the rebound and helping revive investor sentiment.
Forecast Trend Report by Period
Buy-side sidecar triggered as Kospi surges more than 4%
Samsung Electronics jumps 7%; SK Hynix gains more than 6%
South Korea’s Kospi surged more than 4% intraday on July 21, triggering a temporary halt on program buy orders on the main stock market. Investor sentiment recovered quickly, led by semiconductor shares, as foreign and institutional investors turned net buyers together.
As of 1:10 p.m., the Kospi stood at 6,806.86, up 290.59 points, or 4.46%, from the previous session.
The Korea Exchange suspended program buy orders for five minutes from 12:41:29 p.m. after a sharp move in Kospi 200 futures. When the curb was triggered, the Kospi 200 futures index stood at 1,086.58, up 53.44 points, or 5.17%, from the previous close. The buy-side sidecar was activated after futures stayed up more than 5% for one minute.
On the main Kospi market, foreign investors were net buyers of 452.1 billion won, while institutions bought a net 1.6746 trillion won. Retail investors were net sellers of 2.0805 trillion won.
Most large-cap stocks were higher. Samsung Electronics rose 7.17%, while SK Hynix gained 6.35%. SK Square added 6.20%, Samsung Electronics preferred shares climbed 5.38%, and Samsung Biologics advanced 4.61%.
The Kosdaq also extended gains. As of the same time, the index stood at 756.10, up 6.46 points, or 0.86%, from the previous session.
On the Kosdaq, retail investors were net buyers of 152.9 billion won. Foreign and institutional investors were net sellers of 133.5 billion won and 25.4 billion won, respectively.
Among Kosdaq stocks with the largest market capitalizations, Alteogen rose 1.48%, EcoPro BM gained 1.92%, EcoPro advanced 2.31%, Rainbow Robotics jumped 11.07%, Jusung Engineering added 0.36%, Wonik IPS climbed 0.43%, and Leeno Industrial rose 1.45%. Samchundang Pharm fell 29.83%, Miotechnics slipped 0.63%, and Kolon TissueGene dropped 29.90%.
Kim Yeon-ji, Hankyung.com reporter kongzi@hankyung.com
Korea Economic Daily
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