KOSPI Settles at 3230 Level with Foreign and Institutional 'Buy' [fn Morning Market]

[Financial News] The KOSPI index recovered to the 3230 level, supported by net buying from foreigners and institutions. However, there is also caution ahead of the U.S. Consumer Price Index (CPI) results scheduled for this evening. On the morning of the 12th, at 10:30 AM, the KOSPI index was trading at 3233.22, up 26.45p (0.82%) from the previous trading day. The index opened at 3209.75, up 2.98p (0.09%) from the previous session, and the increase widened.
In the securities market, foreigners and institutions are lifting the index by purchasing 1821 billion won and 356 billion won worth of shares, respectively. Individuals are showing a selling advantage of 2031 billion won, realizing profits.
By industry, securities (4.42%), finance (1.63%), transportation and storage (1.24%), and insurance (1.17%) are rising, while electricity and gas (-0.97%), entertainment and culture (-0.67%), and machinery and equipment (-0.29%) are weak.
Among the top market cap stocks, Samsung Electronics (1.27%), SK Hynix (2.06%), and KB Financial (3.19%) are rising, while Samsung Biologics (-0.29%), Hanwha Aerospace (-0.34%), and Doosan Enerbility (-0.86%) are declining.
Overnight, the New York stock market gave up early gains and closed lower as the wait-and-see attitude deepened ahead of the release of major inflation indicators. With the employment data released earlier this month showing a larger-than-expected slowdown, the market is leaning towards the possibility of a rate cut in September. 
Park Ki-hoon, a researcher at Korea Investment & Securities, said, "During the summit period continuing until the 13th, there is a possibility of individual company meetings, follow-up MOU implementation discussions, and industrial site visits, which could temporarily boost investment sentiment in related domestic stock market stocks. However, this trend is characteristic of a typical one-off stock market situation where the momentum for index gains has weakened, and it is difficult for short-term sector strength to drive a trend rise. Ultimately, at this point, some resolution of macroeconomic uncertainties is needed," he said.
At the same time, the KOSDAQ index is trading at 818.50, up 6.65p (0.82%) from the previous trading day. The index started at 813.12, up 0.16% from the previous session, and expanded its gains.
In the KOSDAQ market, while individuals are net selling 81 billion won worth of shares, foreigners and institutions are showing a buying advantage of 248 billion won and 44 billion won, respectively.

nodelay@fnnews.com Park Ji-yeon Reporter