© Reuters KOSDAQ weak due to foreign selling… KOSPI closes higher
Hana Bank dealing room status board in Jung-gu, Seoul. Photo = Yonhap News
The index started on the rise, but closed at a weak level due to foreign selling. The index rose more than 1.3%.
On the 16th, the KOSPI index closed at 2648.76, up 34.96 points (1.34%) from the previous trading day.
While foreigners and institutions purchased KRW 564.5 billion and KRW 262.2 billion, respectively, individuals sold KRW 832.5 billion alone.
Secondary battery stocks stood out among the securities on this day. Last night, as Tesla, a leading electric vehicle company, surged more than 6%, related domestic secondary battery stocks rose all at once.
Barron’s, an investment magazine, analyzed that the reason for the surge in Tesla (NASDAQ:) stock price appears to be because the overall market conditions were favorable, including a decline in government bond yields (market interest rates).
Among the top stocks in market capitalization, secondary battery stocks LG Energy Solutions (KS:), POSCO Holdings, and LG Chemical (KS:) rose 3.67%, 0.34%, and 4.24%, respectively. On the other hand, semiconductor stocks Samsung Electronics (KS:) and SK Hynix (KS:) fell 0.27% and 1.28%, respectively.
On the same day, the KOSDAQ index closed at 857.6, down 1.61 points (0.19%) from the previous trading day.
In the KOSDAQ market, individuals and institutions made net purchases of 252.8 billion won and 200 million won, respectively. On the other hand, foreigners sold net 216.4 billion won.
Top stocks by market capitalization include Ecopro BM (KQ:) (0.4%), Ecopro (KQ:) (0.79%), HLB (KQ:) (1.48%), Alteogen (KQ:) (3.66%), and Celltrion Pharmaceutical. (KQ:)(0.19%) showed strength. On the other hand, HPSP (-7.29%), Enchem (-7.18%), Rainbow Robotics (-1.66%), Shinsung Delta Tech (-5.57%), and Reno Industrial (-3.68%) showed weakness.
Meanwhile, the exchange rate in the Seoul foreign exchange market closed at 1,336 won, up 3 won from the previous trading day.
2024-02-17 13:54:41
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