KOSPI Surges Over 1%, Closes Above 7000 for First Time in Two Months

Driven by Institutional and Corporate Buying
KOSDAQ Surges More Than 2%

Yonhap News Agency

The KOSPI index closed above the 7000-point mark for the first time in two months. The KOSDAQ also showed strong performance by rising more than 2%.

On September 9, the KOSPI ended at 7051.64, up 1.40% from the previous day. After opening slightly higher at 6972.87, the index maintained its upward momentum throughout the session, securing the 7000 level. This is the first time since July 23 (7096.89) that the KOSPI has closed above 7000, marking a return after about two months.

While foreign investors alternated between net selling and net buying, it was institutional investors' buying that is believed to have supported the index. Institutions made a net purchase of 905.6 billion won. In addition, other corporate entities also provided support by net buying 1.7758 trillion won. On the other hand, individual investors and foreign investors recorded net sales of 2.5014 trillion won and 180.3 billion won, respectively.

There were more sectors that gained than those that declined. Many sectors saw gains exceeding 1%, including chemicals (3.56%), machinery & equipment (2.73%), electrical & electronics (2.01%), manufacturing (1.96%), metals (1.63%), transportation equipment & parts (1.61%), and medical & precision equipment (1.29%). Conversely, several sectors experienced declines of more than 1%, such as entertainment & culture (-2.66%), IT services (-1.36%), insurance (-1.35%), telecommunications (-1.31%), and paper & wood (-1.10%).

Most of the top 10 companies by market capitalization also rose. LG Energy Solution climbed 6.74%, SK hynix gained 4.83%, Samsung Electro-Mechanics was up 2.48%, Samsung Biologics rose 0.83%, Hyundai Motor increased by 0.78%, and SK Square grew by 0.62%. In contrast, Samsung C&T slipped by 1.57%, Samsung Life Insurance fell 1.46%, and KB Financial Group declined by 0.98%.

The KOSDAQ also finished strong at 830.37, up 2.28% from the previous day. It opened slightly higher at 815.06 and continued to expand its gains during the session.

Foreign investors were net buyers of 296.8 billion won. Individuals and institutions recorded net sales of 281.8 billion won and 24.0 billion won, respectively.

Most sectors on the KOSDAQ rose. In particular, electrical & electronics (4.69%), financial (4.40%), machinery & equipment (3.52%), telecommunications (3.28%), metals (3.11%), manufacturing (2.72%), and chemicals (2.36%) stood out for their strong upward movement. Meanwhile, entertainment & culture (-1.79%), non-metallic (-1.15%), and transportation & storage (-1.08%) sectors saw declines.

All of the top 10 KOSDAQ-listed companies by market capitalization saw share price increases. Ecopro BM surged by 9.64%, Simmtech rose 8.78%, Ecopro was up 7.03%, Jusung Engineering climbed 6.12%, EO Technics 5.26%, HPSP 5.07%, Wonik IPS 3.71%, Rainbow Robotics 2.89%, Leeno Industrial 1.89%, and Alteogen 0.90%, in order of magnitude of their gains.

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