Has the Bottom Been Reached... KOSPI Rises More Than 2% in Early Trading

Foreign Investors Continue to Sell; Institutions Turn Net Buyers

Yonhap News Agency

The KOSPI index, which had plummeted the previous day, is rebounding by more than 2% in early trading on July 29.

On July 29, the KOSPI opened at 6,089.11, up 1.09% from the previous day. Subsequently, as of 9:12 a.m., the gain widened to 3.40%, pushing the index into the 6,200 range.

Foreign investors, who sold off more than 5 trillion won the previous day, are still exhibiting a net selling trend in early trading. They have already recorded a net sell-off of 286 billion won. Retail investors also posted a net sale of 292.2 billion won. In contrast, institutional investors were net buyers of 519 billion won.

Almost all industry sectors rebounded. The electrical and electronics sector posted the largest increase of 3.05%. This was followed by manufacturing (2.54%), food, beverage & tobacco (2.18%), transportation & warehousing (1.64%), textiles & apparel (1.64%), and securities (1.45%). In contrast, the leisure & cultural sector (-2.50%) and pharmaceuticals (-0.30%) fell.

Most of the top 10 KOSPI companies by market capitalization are also rebounding. These include Hyundai Motor (4.6%), Samsung Electronics (4.5%), SK Square (3.8%), SK hynix (3.2%), Samsung Electro-Mechanics (3.2%), and KB Financial Group (1.3%). On the other hand, Samsung Biologics (-2.1%), LG Energy Solution (-0.3%), and Samsung Life Insurance (-0.3%) are declining.

The KOSDAQ has shown a somewhat sluggish performance. After opening at 713.71, up 1.11% from the previous day, the upward momentum shrank, pushing the index below the 710 mark at times. As of 9:14 a.m., the KOSDAQ was up 0.70% from the previous day at 710.82.

In the KOSDAQ market, retail investors recorded a net purchase of 54.7 billion won. Foreign investors and institutional investors each posted net sales of 51.8 billion won and 7.3 billion won, respectively.

Most industry sectors on the KOSDAQ also rebounded. The non-metal sector posted the largest increase at 5.76%. This was followed by machinery & equipment (3.18%), transportation equipment & parts (1.81%), metals (1.52%), chemicals (1.27%), and manufacturing (1.08%). In contrast, pharmaceuticals (-1.67%), general services (-1.42%), and leisure & cultural sectors (-1.13%) fell.

Among the top 10 KOSDAQ companies by market capitalization, Rainbow Robotics stood out with the largest increase at 7.7%. This was followed by Jusung Engineering (1.7%), Ecopro (1.2%), Wonik IPS (1.2%), and Leeno Industrial (0.8%). In contrast, Pharmaresearch (-2.2%), HLB (-1.6%), ABL Bio (-1.4%), Ecopro BM (-0.8%), and Alteogen (-0.6%) declined.

This content was produced with the assistance of AI translation services.