The KOSPI turned to a slight gain during the day, bolstered by institutional buying.
According to the Korea Exchange and others on the 2nd, as of 11:15 a.m. the KOSPI index recorded 2557.14, up 0.08 points (0.02%) from the previous trading day.
The index started at 2556.52, down 0.09 points (0.00%) from the previous session, and dipped to 2540.57 at one point during the morning, but reduced its losses in mid-session.
Institutions led the KOSPI index's transition to a slight gain with a net purchase of over 1.016 billion won. However, foreigners and individuals are net sellers of 1.397 billion won and 650 million won, respectively.
Kim Ji-hyun, a researcher at DAOL Investment & Securities, noted, "The domestic stock market is expected to show limited movements as mixed signals from the performance of major U.S. tech companies and a wait-and-see attitude ahead of the holidays come into play."
Amid heightened political uncertainty in the country following the resignation of Prime Minister Han Duck-soo, the domestic stock market will be closed on the 5th for Children's Day and Buddha's Birthday, with a substitute holiday on the 6th.
In the main KOSPI market, the stocks with the highest market capitalization showed mixed trends. While SK hynix, Samsung Biologics, and Hanwha Aerospace showed strength, Samsung Electronics and LG Energy Solution were weak.
At the same time, the KOSDAQ index showed an increase of 5.17 points (0.27%) to 722.41. The index started at 716.60, down 0.64 points (0.09%) from the previous session, before turning upward.
Foreign investors and institutions recorded net purchases worth 477 million won and 234 million won, respectively, driving the increase in the index. Individuals are net sellers worth 649 million won.
By individual stocks, the majority of the top market capitalization stocks are rising. While Alteogen and ECOPRO BM are strong, only one stock among the top 10 by market cap, Ecopro, is weak.