On the morning of the 11th, the KOSPI index broke the 2900 level. This is the first time since January 2022 that it has surpassed 2900 during trading. The index is being pulled up due to expectations for policies following the new government’s inauguration, along with the sentiment surrounding the second U.S.-China trade negotiations.
As of 12:11 p.m. on the 11th, the KOSPI index is recorded at 2893.37, up 21.52 points (0.75%) from the previous day. Foreign investors and institutions are leading the index's rise with net purchases of 80 billion won and 60 billion won, respectively. Individuals, on the other hand, have switched to a 'sell' stance during the morning, net selling around 130 billion won.
The KOSPI index expanded its gains early in the session, recording 2904.21, surpassing the 2900 level for the first time in three and a half years. However, as selling pressure for profit-taking from individuals has increased, it has currently reduced its gains and remained around the 2890 level.
The KOSPI index has been on a 'rally' for six consecutive trading days since the inauguration of President Lee Jae-myung. The expectation of market support from the new government has stimulated investor sentiment. In particular, analysts note that President Lee's emphasis on resolving the undervaluation of the stock market has led to improved foreign investor demand.
Lee Kyung-min, a researcher at DAISHIN SECURITIES, said, 'Expectation of amendments to corporate law and the alleviation of the Korea discount since the inauguration of the Lee Jae-myung government have stimulated foreign investor demand,' adding, 'The improvement in foreign investor demand is clearly evident based on policy expectations and valuation attractiveness.'
The KOSPI's largest market capitalization stocks are showing mixed trends. Samsung Electronics and SK hynix are rising on expectations that semiconductor export restrictions may be eased following U.S.-China negotiations. Additionally, LG Energy Solution, Hyundai Motor, Kia, and Doosan Enerbility are performing strongly. Conversely, stocks that had seen rapid increases, such as Hanwha Aerospace, Shinhan Financial Group, HD Hyundai Heavy Industries, and Hanwha, are declining.
At the same time, the KOSDAQ index is recorded at 783.78, up 12.58 points (1.63%) from the previous day. Foreign investors and institutions are showing a buying advantage, with purchases of 100 billion won and 55 billion won, respectively. In contrast, individuals are selling off 150 billion won worth.
Most of the top stocks by market capitalization on the KOSDAQ are showing an upward trend. Alteogen, ECOPRO BM, HLB, Ecopro, and Rainbow Robotics are on the rise. Among the top 10 stocks by market capitalization, 9 stocks, except for PharmaResearch, are all increasing in price.
In the Seoul foreign exchange market, the won-dollar exchange rate is recorded at 1370.40, up 3.1 won compared to the previous trading day at the same time.