'Tax Bomb' Hit KOSPI, Closes at 3140 Due to Bargain Buying [fn Closing Market]

[Financial News] Last week, KOSPI, which showed a significant decline due to the shock of the tax reform proposal, closed at 3140 due to bargain buying.
According to the Korea Exchange on the 4th, KOSPI finished trading at 3147.75, up 28.34p (0.91%) from the previous day. On this day, KOSPI started trading at 3114.27, down 0.16% from the previous trading day, and at one point during the day, it rose to 3157.45.
In the securities market, foreigners and institutions net bought 1301 billion won and 1337 billion won respectively, while individuals net sold 3653 billion won.
By industry, machinery/equipment (3.51%), entertainment/culture (2.45%), and electricity/gas (2.35%) were strong, while transportation equipment/parts (-0.12%) was weak.
Among the top market cap stocks, Doosan Enerbility (4.56%), NAVER (3.56%), and KB Financial (2.26%) showed an upward trend, while Hanwha Ocean (-2.98%) and HD Hyundai Heavy Industries (-2.73%) showed a downward trend.
On this day, KOSDAQ finished trading at 784.06, up 11.27p (1.46%) from the previous trading day. Institutions net bought 661 billion won, while individuals and foreigners net sold 385 billion won and 271 billion won respectively.
The securities industry analyzed that the rebound on this day was due to bargain buying inflows following last week's short-term plunge. Kang Jin-hyuk, a researcher at Shinhan Investment Corp., explained, "The U.S. July employment data was significantly poor, and issues of indicator credibility were raised, making external conditions unfavorable," but "However, in Korea, bargain buying inflows followed Friday's plunge."   

koreanbae@fnnews.com Bae Hangul Reporter