The KOSPI turned to a strong upward trend, supported by foreign investors' shift to "buying".
According to the Korea Exchange and others, as of 11:10 a.m. on the 15th, the KOSPI index showed an increase of 1.23 points (0.04%) to 3203.26 compared to the previous trading day.
The index started down 7.21 points (0.23%) at 3194.82 and fell to 3183.83 but turned upward. During the trading session, it rose to 3213.91.
The foreign investors, who started with "selling", shifted to "buying", which led to the index's turnaround. They initiated the day with net sales of 20.3 billion won but have since turned to net buying, accumulating 6.4 billion won in purchases. Retail investors are also net buying 66.9 billion won.
However, institutions continue with "selling". The KOSPI index surpassed 3200 for the first time since Sept. 6, 2021 (3203.33), which is interpreted as a release of profit-taking.
Lee Seong-hoon, a researcher at Kiwoom Securities, noted, "The domestic stock market is expected to continue a tug-of-war around 3200 due to the caution ahead of the U.S. June Consumer Price Index (CPI) indicator announcement."
In the KOSPI market, the top capitalized stocks showed mixed performance. Right away, Samsung Electronics, the top market cap stock, showed a strong increase, while SK hynix, in second place, recorded declines of over 2%.
In addition, stocks related to nuclear power plants such as Doosan Enerbility and Hyundai E&C, as well as major defense stocks like Hanwha Aerospace and LIG Nex1, are performing well, but the top financial stocks like KB Financial Group, Shinhan Financial Group, and Hana Financial Group are declining.
Automobile stocks that had been strong the previous day, including Hyundai Motor, Kia, and Hyundai Mobis, turned weak on this day.
At the same time, the KOSDAQ index recorded an increase of 5.14 points (0.64%) to 804.51. The index started 0.87 points (0.11%) higher at 800.24 and the gains increased somewhat.
By stock, most of the top market cap stocks like Alteogen, HLB, PharmaResearch, Rainbow Robotics, LigaChem Biosciences, Peptron, and HUGEL showed a strong performance.
However, the stock prices of secondary battery stocks like ECOPRO BM and Ecopro are declining.