The KOSPI index rose for the fifth consecutive transaction day, continuing its upward trend. This is attributed to foreign investors maintaining a net buying trend during the same period. Expectations regarding the revision of the Commercial Act and the resolution of the Korea Discount (the phenomenon where the stock prices of South Korean companies are lower than those of foreign listed companies with similar values) appear to stimulate foreign supply and demand.
On the 10th, the KOSPI index closed at 2871.85, up 16.08 points (0.56%) from the previous transaction day. The KOSPI index started the day at 2872.62, up 0.59%. It briefly turned to a slightly weaker trend just after the opening but quickly regained an upward direction.
In the securities market, foreigners and institutions bought 633.2 billion won and 13.2 billion won, respectively, while individuals sold 625.8 billion won. The total transaction value in the securities market was about 13.956 trillion won, exceeding 10 trillion won for the fourth consecutive transaction day.
The top 10 stocks by market capitalization in the KOSPI showed mixed trends. Samsung Electronics fell by 1%, while SK hynix rose by 0.66%. Samsung Biologics and LG Energy Solution increased by 0.68% and 1.23%, respectively. Hanwha Aerospace showed a rise of 6.36%. Hyundai Motor and Kia dropped by 0.4% and 0.84%, respectively.
The KOSDAQ also closed higher. On that day, the KOSDAQ index recorded 771.20, up 6.99 points (0.91%) from the previous transaction day. In the KOSDAQ market, individuals and foreigners net bought 13.6 billion won and 5.6 billion won, respectively, while institutions net sold 2.5 billion won. The transaction value was at the level of 7 trillion won, which did not increase significantly compared to the securities market.
The top 10 stocks by market capitalization in the KOSDAQ showed divergent trends. The pharmaceutical and biotech sectors showed strength compared to secondary batteries and information technology (IT). Alteogen and HLB rose by 1.42% and 2.14%, respectively, while PharmaResearch also increased by 3.79%. Peptron surged by 19.79%, buoyed by expectations over the Eli Lilly main contract. In contrast, Ecopro (-0.23%), ECOPRO BM (-0.22%), and Rainbow Robotics (-0.35%) showed weakness.
Lee Kyung-min, a researcher at DAISHIN SECURITIES, noted that "the exclusion of small shareholders and governance issues in the Korean stock market have been among the key factors global investors have demanded improvements on," adding, "Foreign supply and demand are clearly improving based on policy expectations and valuation appeal."
As of the market closing time on that day, the exchange rate of the won against the U.S. dollar was traded at 1364.4 won, up 10.2 won from the previous transaction day. The won had shown significant strength for a while but has recently paused somewhat.