On the 16th, the KOSPI index did not see a strong rebound but succeeded in closing higher, thanks to foreign investors' net buying for four consecutive trading days. The earnings results of listed companies for the first quarter of this year, compiled until the previous day, exceeded market expectations (consensus). However, there are observations that it is uncertain whether this trend will continue in the second half of the year, which seems to be suppressing market sentiment.
On this day, in the securities market, the KOSPI index closed at 2,626.87, up 5.51 points (0.21%) from the previous day. The KOSPI index opened at 2,568.8, 7.44 points (0.28%) higher than the previous session, but briefly turned to decline during the morning. Afterwards, institutions returned to buying and finished the day slightly higher.
Foreigners continued their net buying for four consecutive transactions since the 13th, purchasing a net 107.1 billion won. Institutions sold shares in the morning but returned to buying in the afternoon, achieving a net purchase of 165.9 billion won. Individuals sold off 270.8 billion won to realize profits.
Among the top 10 KOSPI market capitalization stocks, Hanwha Aerospace showed the largest increase at 2.31%. SK hynix, Samsung Biologics, Hyundai Motor, HD Hyundai Heavy Industries, and Kia also closed higher.
In contrast, Samsung Electronics, LG Energy Solution, and Samsung Electronics preferred stocks saw declines. KB Financial closed at the same price as the previous day.
On this day, the KOSDAQ index closed at 725.07, down 8.16 points (1.11%) from the previous day. The KOSDAQ index opened at 732.61, down 0.63 points (0.08%) from the previous trading day, and expanded its drop during the morning. In the KOSDAQ market, individuals were net buyers of 236 billion won, while foreigners and institutions sold off 177.5 billion won and 43.3 billion won, respectively.
Among the top 10 KOSDAQ market capitalization stocks, Alteogen, Ecopro BM, HLB, Ecopro, Rainbow Robotics, HUGEL, and CLASSYS all declined. Peptron, PharmaResearch, and LigaChem Biosciences closed higher.
Lee Jae-won, a researcher at Shinhan Investment Corp., noted, "This is a market that is resting without short-term upward momentum," and added, "Next week, it is essential to pay attention to China's key coincident indicators, the U.S. Purchasing Managers' Index (PMI) announcement, and trade negotiations."
The earnings results of listed companies for the first quarter of this year exceeded market projections. According to Mirae Asset Securities, the earnings results of domestic listed companies finalized by the previous day (the 15th) recorded a combined revenue increase of 4.7% and an operating profit increase of 17.7% compared to the previous year. These figures surpassed consensus estimates by 1.1% and 7.4%, respectively.
By industry, the operating profits of shipbuilding, defense, renewable energy, cosmetics, distribution, semiconductors, and displays greatly exceeded consensus.
However, experts expect that the positive atmosphere of the first quarter will be difficult to sustain throughout the year. Yoo Myung-gan, a researcher at Mirae Asset Securities, explained, "Although the consensus for operating profit in the second quarter has been raised by 0.7%, the forecasts for the third and fourth quarters have been lowered by 1.4% and 3.4%, respectively," adding, "excluding semiconductors, the figures will be lowered to 1.2%, 1.1%, and 1.3%, respectively."
Meanwhile, according to the foreign exchange market in Seoul, as of 3:30 p.m. on this day, the won-dollar exchange rate was recorded at 1,388.30 won, down 11.7 won from the previous day.