KOSPI rises amid strong financial stocks, secondary battery stocks weaken
Jeji stocks soar after author Han Kang wins the Nobel Prize in Literature
KOSDAQ fell for 4 consecutive trading days
KOSPI recovered to the 2600 level in 4 trading days. The warm wind blowing from the U.S. and the ‘double buying trend’ of foreigners and institutions led to the rise of the index.
KOSPI closed at 2623.29 on the 14th, up 26.38 points (1.02%) compared to the previous day. It was a day in which the ‘warm weather’ of the US Dow Jones Industrial Average and S&P 500 indices, which closed at record highs last week, continued in the domestic stock market. KOSPI opened at 2602.63, up 5.72 points (0.02%) from the previous day, and ended at the 2620 level with additional buying power in the afternoon. This is the first time in four trading days that the KOSPI closing price closed above the 2600 level.
By investment entity, institutions led the index’s rise with net purchases of KRW 325.8 billion and foreigners net purchases of KRW 77.6 billion. On the other hand, individuals sold 440.8 billion won.
487 stocks closed in an upward trend and 398 stocks closed in a downward trend. 53 stocks were flat. Among the top 10 stocks in market capitalization, KB Financial Group, a major financial stock, stood out, recording a 52-week high with a rise of 6.46%. It is interpreted that it was also influenced by US financial stocks, which showed extreme strength due to ‘earnings surprises’ in the third quarter. Shinhan Financial Group, another financial stock in the top 10 by market cap, also rose 1.04%, and Meritz Financial Group and Korea Financial Group also broke 52-week highs. Representative semiconductor stocks such as Samsung Electronics (2.53%) and SK Hynix (0.81%) also rose side by side for the first time in a while. On the other hand, battery and secondary battery stocks were weak due to the aftermath of the ‘Tesla shock’, which plunged 8% after the release of the robotaxi. LG Energy Solutions fell 1.22% and POSCO Holdings fell 0.68%.
In addition, Jejiju also soared in connection with writer Han Kang, who won the Nobel Prize in Literature. Hankuk Paper hit the upper limit (29.93%), and Moorim Paper also rose 8.92%. It appears to have been influenced by the news that printing demand is surging. By industry, paper and wood had the second highest growth rate (3.45%), following textiles and clothing (3.63%). Insurance (2.65%) and finance (2.46%) also showed strength.
Lee Jae-won, a researcher at Shinhan Investment & Securities, said, “The index rose due to circular selling, including net selling of Samsung Electronics by foreigners, which was suspended for the time being, and breaking reports for financial stocks,” adding, “The secondary battery value chain, which had seen an influx of low-priced buyers due to expectations of robotaxi, was sold in disappointment due to disappointment in the event. He said, “We were sent together.” He added, “As the financial sector shows today, it seems possible to differentiate between industries based on performance.”
The KOSDAQ index closed at 770.26, down 0.09% (0.72 points) from the previous day. It is a decline for 4 consecutive trading days.
By investment entity, individuals bought 107.2 billion won, while foreigners sold 51 billion won and institutions net sold 41 billion won.
793 stocks closed with gains and 763 with declines. 120 stocks ended trading flat. All companies ranked 1st to 6th in market cap fell, including Alteogen (-1.94%), which ranked 1st in KOSDAQ market cap. Looking at the top 10 stocks, Hugel (6.85%) recorded the largest increase, while Classys (1.54%) and Reno Industrial (1.21%) also succeeded in rising by more than 1%. In addition, the publishing industry, which is benefiting from the ‘Han River effect’, also continued to rise. Yes24 hit the upper limit for two consecutive trading days, and publisher Yerimdang also rose 18.86%. Yerimdang has recently been attracting attention as a sign of a management dispute surrounding T’way Air, which is its grandchild company and holds the largest shareholder position.
