On the 25th, the Korean stock market saw individual investors, or ' ants,' purchase profit-taking sales from foreign and institutional investors, defending the index. The KOSPI index, which finished trading in a slight upward trend, managed to hold the 3100 level. However, the KOSDAQ index fell below the 800 mark. The stock market, which had been soaring recently, is now taking a breather.
That day, the KOSPI index closed at 3108.25, up 4.61 points (0.15%) from the previous trading day. The KOSPI index opened higher at 3127.79, up 24.15 points (0.78%) from the previous market close, but struggled with fluctuations throughout the day as the upward momentum slowed. This was influenced by profit-taking sales from foreign and institutional investors. On that day, institutions and foreigners sold a net 198.7 billion won and 500.6 billion won, respectively, while individuals purchased a net 758.1 billion won.
Lee Kyung-min, a researcher at DAISHIN SECURITIES, noted, "Profit-taking sales emerged in the nuclear power, internet, and gaming sectors, which had been experiencing a sharp rise recently. On the other hand, a rotation into undervalued sectors, such as semiconductors and automobiles, was observed."
Ahead of Micron's earnings announcement, expectations for a recovery in the semiconductor industry increased, leading to gains for Samsung Electronics and SK hynix. In particular, SK hynix closed at 286,000 won, up 2.69% from the previous trading day. Samsung Electronics also rose by 1.32%.
Hyundai Motor Company closed at 217,000 won, up 5.34% from the previous trading day. This is interpreted as buying momentum due to expectations that automobile exports will rebound this month. In contrast, LG Energy Solution, NAVER, Doosan Enerbility, KB Financial Group, and Hanwha Aerospace saw declines.
Korea Electric Power Corporation reached its highest price in over seven years on that day. It closed at 37,850 won, up 11.0%, and even peaked at 38,550 won early in the session. This is the first time since May 2018 that Korea Electric Power Corporation's stock price has surpassed 38,300 won. The so-called 'nuclear renaissance' benefits through its wholly-owned subsidiary Korea Hydro & Nuclear Power (KHNP) are cited as the background for this stock price increase.
As the KOSPI surpassed the 3100 mark, the securities sector, which is showing strength, also saw multiple companies achieve their highest prices in a year. NH Investment & Securities, SK Securities, and Korea Investment Holdings were among those that hit new highs early in the session. The securities stocks reflect the favorable market conditions in which the index shows strength. As the index rises and investor sentiment improves, the volume of transactions increases alongside expectations for improved performance.
The KOSDAQ index fell slightly. It closed at 798.21, down 2.72 points (0.34%) from the previous trading day. In the KOSDAQ market, foreign investors sold a net 149.7 billion won, and institutions also sold 44.1 billion won. Individuals made a net purchase of 210.8 billion won.
Among the top 10 KOSDAQ market cap stocks, ECOPRO BM, Rainbow Robotics, PharmaResearch, HUGEL, and LigaChem Biosciences saw gains. In contrast, Ecopro, Rainbow Robotics, Peptron, and CLASSYS experienced declines.
In the Seoul foreign exchange market, as of 3:30 p.m., the won to dollar exchange rate recorded 1,362.4 won, up 2.2 won from the previous day. This increase is interpreted as driven by local demand for dollar exchanges for overseas investments and the foreign selling of won.