KOSPI Rises to 3210 Level with Expanded Institutional Buying [fn Afternoon Market]

[Financial News] KOSPI rose to the 3210 level, supported by institutional buying. Stocks related to securities, finance, and insurance are surging, driving the index up.
According to the Korea Exchange on the 28th, as of 1:42 PM, KOSPI is trading at 3210.28, up 23.12 points (0.73%) from the previous day.
On this day, the index started trading at 3175.33, down 11.83 points (-0.37%) from the previous trading day, and at one point during the day, it fell to 3164.08 (-0.72%), but with the expansion of institutional buying, it surpassed the 3200 level.
In the securities market, institutions and foreigners are net buying 269.5 billion won and 102.8 billion won respectively, while individuals are net selling 423.5 billion won.
By sector, securities (4.74%), finance (3.21%), and insurance (3.06%) are strong, while entertainment/culture (-1.56%), metals (-0.42%), and telecommunications (-0.37%) are weak.
Among the top market cap stocks, HD Korea Shipbuilding & Offshore Engineering (11.37%), Samsung Life Insurance (4.47%), and Samsung C&T (4.10%) are on the rise, while HD Hyundai Heavy Industries (-3.45%), Hanwha Ocean (-0.72%), and Samsung Electronics (-0.50%) are weak.
At the same time, KOSDAQ is trading at 799.32, down 2.40 points (-0.30) from the previous day. Individuals are net buying 97.7 billion won, while foreigners and institutions are net selling 65.2 billion won and 17.5 billion won respectively.
Jae-Won Lee, a researcher at Shinhan Investment Corp., explained, "With the passage of the Commercial Act amendment and the indication of policy reversal by the political circle, foreign finance and holdings have returned."   

koreanbae@fnnews.com Bae Hangul Reporter