Foreign and institutional investors drive gains as KOSDAQ nears 900-point milestone
The KOSPI index, which has been on a continuous upward trend, surpassed the 4,000-point mark for the first time in history on the 27th and expanded its gains to the 4,030-point level during morning trading.
As of 11:39 a.m. on the same day, the KOSPI was trading at 4,034.03, up 2.35% (92.44 points) from the previous trading day. The index opened at 3,999.79, up 58.20 points (1.48%) from the previous session.
Foreign investors led the gains in the stock market, with a net purchase of 448.5 billion Korean won. Individual investors, who were net buyers in the early session, turned to selling. Conversely, institutional investors, who were net sellers in the early session, are now net buyers of 131.6 billion Korean won.
All top market capitalization stocks in the KOSPI are rising. Samsung Electronics, which recorded "100,000 won per share" for the first time in its history, is up 2.94% (2,900 won) at 101,700 won compared to the previous trading day. SK Hynix is also rising over 3%.
Additionally, LG Energy Solution, Samsung Biologics, HD Hyundai Heavy Industries, Doosan Enerbility, Hanwha Aerospace, Hyundai Motor, and Kia are also rising.
At the same time, the KOSDAQ index is up 16.08 points (1.82%) at 899.16 compared to the previous trading day.
Foreign and institutional investors are leading the KOSDAQ market. While foreign and institutional investors are net buyers of 117.8 billion and 39.2 billion Korean won, respectively, individual investors are the only net sellers, selling 157.9 billion Korean won.
All top market capitalization stocks in the KOSDAQ are also rising. Alteogen is rising over 6%, while EcoPro BM, EcoPro, Rainbow Robotics, Peptron, HLB, PharmaResearch, Ligachem Biosciences, ABL Bio, and Sam Chun Dang Pharm are also gaining.
The domestic stock market appears to have been influenced by expectations ahead of the Asia-Pacific Economic Cooperation (APEC) summit in Gyeongju. A South Korea-U.S. summit is scheduled for the 29th, and a U.S.-China summit for the 30th in Gyeongju.
Lee Jae-won, a Shinhan Securities researcher, explained, "U.S. President Donald Trump mentioned to reporters during his Asia tour that trade negotiations with South Korea are in the final stages," adding, "This has provided upward momentum for sectors such as shipbuilding and nuclear power."