After about 3 years and 5 months, the Korea Composite Stock Price Index (KOSPI) has surpassed the 2900 mark and continues its rally by reaching higher peaks.
According to the Korea Exchange on the 12th, as of 11 a.m. that day, the KOSPI index was 2920.14, up 15.10 points (0.52%) from the previous trading day. The index opened at 2909.99, up 2.95 points (0.10%) from the previous close, and increased its gains, rising to as high as 2926.14 intraday.
Recently, foreign investors, who have been continuously net buying in the stock market, turned to a 'sell' position that day, but individual investors are leading the index's rise, with individuals net buying 63.6 billion won. Institutions are net buying 1.8 billion won, while foreigners are net selling 49.5 billion won.
The situation appears to be that President Lee Jae-myung, who has made 'KOSPI 5000' a major pledge, is boosting the stock market alongside expectations for a supplementary budget. The strengthening of the won has also led the won/dollar exchange rate to record 1369.2 won, down 1.70 won (0.12%) from the previous day.
By market capitalization, SK hynix rose 0.52%, settling in the 240,000 won range, and the stock prices of Hanwha Aerospace and HD Hyundai Heavy Industries are also rising. LG Energy Solution, a leader in the secondary battery sector, is up nearly 3% that day.
In addition, Doosan Enerbility continues its strength for the seventh day amid expectations for increased overseas nuclear power plant orders. LS Marine Solution surged nearly 18% right after the market opened due to being selected as the preferred negotiator for a offshore wind power project, setting a new 52-week high.
'The domestic stock market continues its honeymoon rally regardless of external conditions,' noted Hanjiyoung of Kiwoom Securities, while also stating, 'As today marks the expiration date of futures options, it is necessary to prepare for increased volatility in supply and demand as we approach the latter part of the trading session.'
At the same time, the KOSDAQ index is also rising, recording 788.37, up 2.08 points (0.25%) from the previous trading day. The index started the market at 786.27, down 0.02 points (0.00%) from the previous day, but turned to an upward trend. Both individuals and institutions are net buying 69.1 billion won and 23.6 billion won, respectively.
By market capitalization in the KOSDAQ market, ECOPRO BM is up over 4%, while Ecopro is also showing strength. In addition, HLB and Rainbow Robotics are also performing well. However, stocks of bio companies such as Alteogen, PharmaResearch, and LigaChem Biosciences are underperforming.