Summary
- The KOSPI initially broke through the 2,900 mark but entered a pause around 2,890 amid slowing foreign buying and intensifying individual selling.
- With strong buying from foreigners and institutions, the KOSPI and KOSDAQ remained bullish, and Doosan Enerbility surged by over 5%% to rank 11th in market capitalization.
- Major large-cap stocks posted mixed results, while some sectors saw profit-taking and showed weakness.
After surpassing the 2,900 mark in early trading, the KOSPI has retreated to the 2,890 range and is now taking a breather. This is due to a slowdown in foreign buying and intensifying individual selling.
As of 11:07 AM on the 11th, the KOSPI is trading at 2,893.12, up 21.27 points (0.74%) from the previous day.
At around 9:28 AM, the KOSPI broke through the 2,900 level, hitting an intraday high of 2,904.21 before pulling back to as low as 2,879.92, then rebounding above the 2,890 mark.
In the KRX market, foreigners and institutions are buying 64.1 billion KRW and 51.9 billion KRW worth of stocks, respectively. Foreigners are also net buying 172 billion KRW worth of KOSPI200 futures. However, compared to around 10:00 AM when the KOSPI traded above 2,900, the foreign buying activity in both the spot and futures markets has contracted considerably. Individuals are selling 102.5 billion KRW worth of stocks.
Top market cap stocks are showing mixed performance.
Samsung Electronics and SK hynix are up 0.84% and 3.69%, respectively, on hopes for a US-China trade agreement.
Hopes for easing trade tensions are also boosting LG Energy Solution (0.87%), Hyundai Motor (1.78%), and Kia (1.8%).
Doosan Enerbility has surged by 5.21%, standing out among the crowd. Notably, it overtook NAVER during intraday trading to become the 11th largest in market capitalization.
On the other hand, Hanwha Aerospace (-1.92%), KB Financial Group (-2.34%), and HD Hyundai Heavy Industries (-1.52%) are weakening due to profit-taking sell-offs.
The KOSDAQ is trading at 782.84, up 11.64 points (1.51%) from the previous day. In this market, too, foreigners and institutions are buying 83.3 billion KRW and 39.3 billion KRW worth of stocks, respectively, while individuals are selling 113.1 billion KRW worth.
Most of the top KOSDAQ market cap stocks are rising. Only PharmaResearch is slightly weaker.
Alteogen is up 2.16%. HLB (0.76%), Peptron (2.55%), Hugel (2.06%), and ABL Bio (2.54%) are also showing strength.
Ecopro BM and Ecopro are rising by 2.93% and 0.79%, respectively.
In the Seoul foreign exchange market, the KRW-USD exchange rate is trading at 1,370.9 KRW per dollar, up 2.9 KRW (0.21%) from the previous day.
Kyung-woo Han, 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.
