Kospi Gains More Than 1% on Retail Buying; Samsung Electronics, SK Hynix Advance

The Kospi rose more than 1% in early trading on September 3, lifted by buying from retail investors. Investor sentiment improved as U.S. Treasury yields pulled back from their intraday highs despite higher crude oil prices.

As of 9:04 a.m., the Kospi was up 74.57 points, or 1.14%, at 6,637.29.

On the main board, retail investors were net buyers of 90.1 billion won, driving the index higher. Foreign and institutional investors were net sellers of 66.3 billion won and 42 billion won, respectively.

Most large-cap stocks also traded higher. Samsung Electronics gained 1.40% and SK Hynix rose 1.80%. Samsung C&T and Samsung Life Insurance advanced 2.95% and 2.38%, respectively, while SK Square climbed 1.43%. Samsung Electro-Mechanics added 2.71%.

Hyundai Motor rose 0.52% and Samsung Biologics edged up 0.07%, trailing the broader market.

The Kosdaq index gained 6.52 points, or 0.81%, to 810.50. On the Kosdaq, retail investors were net buyers of 32.6 billion won, while foreign and institutional investors were net sellers of 27.2 billion won and 600 million won, respectively.

Most of the Kosdaq's largest stocks also moved higher. EO Technics and HPSP stood out, rising 2.99% and 3.37%, respectively. Alteogen gained 1.84% and Ecopro rose 1.22%. Ecopro BM was little changed.

In Seoul's foreign-exchange market, the won traded at 1,359.8 per dollar, up 0.6 won, or 0.04%, from the previous session.