KOSPI, 7 month 10 early in trading on 260.58 points higher, 7,552.49 to open
The KOSPI 7 month 10 rose sharply early in trading on 260.58 points (3.57%) to open at 7,552.49. Signs of foreign investors’ return coincided with net buying by institutions, extending the index’s rebound, while SK hynix and Samsung Electronics led the gains.
The KOSPI 7 month 10 drew investor attention after opening 260.58 points (3.57%) higher at 7,552.49. The move was reported to have resulted from inflows of foreign funds and institutional buying.
On the previous day, 7 month 9 the KOSPI closed 45.12 points (0.62%) higher at 7,291.91. Reports continued to indicate signs of foreign investors’ return that day.
Among individual stocks, SK hynix rose by 6% and Samsung Electronics traded about 4% higher. Large-cap semiconductor stocks appeared to lead the index’s advance.
Bank stocks showed relative strength in a volatile market. Reports said that investors were buying bank stocks, viewing them as defensive plays during volatile periods.
Another feature was that individual investors moved to sell approximately 1trillion3,000hundred million won worth of shares, while institutions reportedly absorbed some of the selling. The market saw pronounced differences among trading participants.
Several reports also said that the inflow of foreign investors this time resembled the eve of a surge in the 6month. It was a market in which buying and selling by short-term trading participants were mixed.