Foreign Investors Turn Net Buyers... KOSPI Closes Up 2%

Foreign investors turn net buyers on the KOSPI for the first time in 9 sessions
KOSDAQ rises more than 4% despite net selling

Yonhap News Agency

On the 16th, the KOSPI and KOSDAQ indices closed more than 2% higher, recovering some of the previous day's sharp losses. Foreign investors, who had been net sellers for several consecutive sessions, also returned to net buying.

The KOSPI closed at 5,668.05, up % from the previous day. It briefly broke above the 5,800 level during the session, but its gains narrowed and it finished around the 5,660 level.

Some of the foreign capital that had poured out of the market flowed back in. From the 2nd through the previous day, foreign investors had been net sellers for eight consecutive trading sessions, selling shares worth 18.131 trillion won. On the 16th, foreigners were net buyers of 352.1 billion won, while retail investors and institutions were net sellers of 442 billion won and 813 billion won, respectively.

Most sectors rose. Medical and precision instruments (6.05%) led the gains, followed by pharmaceuticals (4.65%), retail (4.28%), transportation equipment and parts (4.21%), securities (4.16%), and entertainment and culture (4.01%). Only transportation and warehousing declined, down 0.45%.

Most of the top 10 stocks by market capitalization also advanced. As of 4:50 p.m., after the regular session had ended, Hyundai Motor (5.7%), Samsung Life Insurance (3.9%), Samsung Electronics (3.1%), Samsung Biologics (3.0%), SK Square (2.4%), KB Financial Group (2.3%), and SK hynix (1.9%) posted the largest gains, in that order. LG Energy Solution, by contrast, was down 0.1% in after-hours trading.

The KOSDAQ posted even stronger gains, closing at 794.78, up 4.46% from the previous day. At around 12:55 p.m., a buy-sidecar was triggered, temporarily suspending program buy orders. A KOSDAQ buy-sidecar is triggered when KOSDAQ 150 futures rise at least 6% from the previous day's close and the KOSDAQ 150 index remains at least 3% above its previous close for one minute.

Unlike on the KOSPI, foreign and retail investors were net sellers on the KOSDAQ, selling 79 billion won and 122.7 billion won, respectively. Institutions were the only net buyers, purchasing 181.1 billion won.

Most sectors also advanced on the KOSDAQ. Several rose by more than 5%, including medical and precision instruments (6.95%), non-metallic minerals (6.28%), general services (6.09%), pharmaceuticals (5.72%), and retail (5.08%). Publishing and media reproduction (down 4.04%) and paper and wood (down 0.29%) declined.

All of the KOSDAQ's top 10 stocks by market capitalization rose. Alteogen posted the largest gain, at 9.3%, followed by EO Technics (5.6%), L&K Engineering (5.6%), Wonik IPS (5.6%), Jusung Engineering (3.1%), and Rainbow Robotics (2.3%).

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