KOSPI Opens Higher As Individuals Lead Buying

KOSPI opens higher on retail investors’ solo net buying while exchange rate opens up 1.6 won

Stock indices and exchange rates are displayed on an electronic board in the dealing room at the Shinhan Bank headquarters in Jung-gu, Seoul, on April28. (Photo courtesy of Shinhan Bank)

The KOSPI opened higher, supported by net buying from individual investors. As time passed, however, net buying by individuals narrowed, while net selling by institutions and foreigners also eased.

As of 9:36 a.m. on April 28, the KOSPI stood at 6656.11, up 40.69 points, or 0.62%, from the previous day. The index opened at 6646.80, up 31.77 points, or 0.48%, and has continued to post modest gains.

Overnight, on Wall Street, the Standard & Poor’s (S&P) 500 and the Nasdaq both hit intraday record highs before ending up 0.12% and 0.2%, respectively, from the previous session. Interest in strong corporate earnings supported investor sentiment, and that momentum appears to have carried over to the domestic stock market.

In KOSPI trading, individuals are net buyers of stocks worth 731.8 billion won ($497.1 million). Foreigners and institutions are net sellers of 483.8 billion won and 166.8 billion won, respectively. Earlier in the session, net buying by individuals exceeded 1.2 trillion won, but the scale has narrowed over time.

Performance across KOSPI sectors is mixed. Construction jumped in the 6% range. Metals rose in the 4% range, while IT services and chemicals gained in the 2% range. Entertainment and culture, distribution, transportation and warehousing, and transportation equipment and parts each rose in the 1% range. Electricity and gas, and machinery and equipment each fell in the 1% range.

Among top KOSPI stocks by market capitalization, Samsung SDI rose in the 4% range from the previous day. SK Square gained in the 3% range, while LG Energy Solution and Hyundai Motor rose in the 2% ra비지니스코리아 Yoon Young-sil (pr@businesskorea.co.kr)nge, and SK Hynix and Samsung Electro-Mechanics each advanced in the 1% range. In contrast, HD Hyundai Heavy Industries fell in the 3% range, while Doosan Enerbility and Hanwha Aerospace each slipped in the 1% range.

At the same time, the KOSDAQ was at 1208.51, down 17.67 points, or 1.44%, from the previous day. The KOSDAQ opened at 1226.76, up 0.58 points, or 0.05%, from the previous day, but later turned downward.

Investor flows on the KOSDAQ are showing a pattern similar to the KOSPI. At this time, individuals are net sellers of stocks worth 481.0 billion won, while foreigners and institutions are net sellers of 424.0 billion won and 40.9 billion won, respectively.

By KOSDAQ sector, pharmaceuticals fell in the 4% range. Construction and general services each declined in the 2% range, while telecommunications, manufacturing, transportation and warehousing, and medical and precision instruments each fell in the 1% range. By contrast, entertainment and culture rose in the 2% range, and finance gained in the 1% range.

Among top KOSDAQ stocks by market capitalization, EcoPro and EcoPro BM, the No. 1 and No. 2 companies by market cap, each rose in the 1% range. ABL Bio plunged in the 22% range.

The won-dollar exchange rate started trading on the day at 1474.1 won, up 1.6 won from the previous trading day.

Yoon Young-sil