KOSPI Maintains Upward Trend on Policy Expectations... Closes at 3340 [fn Closing Market]

[Financial News] KOSPI closed up at 3340, driven by expectations that the major shareholder transfer income tax standard will be maintained at 5 billion won.
According to the Korea Exchange on the 11th, KOSPI closed at 3344.20, up 29.67p (0.90%) from the previous day. On this day, KOSPI touched 3344.70 at one point in the morning, setting a new all-time high.
In the stock market, foreigners and institutions net bought 258.5 billion won and 853.9 billion won respectively, while individuals net sold 1.1165 trillion won.
By sector, food/beverage/tobacco (3.02%), transportation equipment/parts (2.03%), and telecommunications (1.98%) were strong, while electricity/gas (-2.47%), securities (-1.71%), and entertainment/culture (-0.96%) were weak.
Among the top market cap stocks, Hanwha Aerospace (3.41%), LG Energy Solution (2.50%), and HD Korea Shipbuilding & Offshore Engineering (1.93%) showed an upward trend, while Doosan Enerbility (-2.24%), Korea Electric Power Corporation (-2.84%), and Hyundai Mobis (-0.63%) showed a downward trend.
On this day, KOSDAQ closed at 834.76, up 1.76p (0.21%) from the previous day. Individuals and institutions bought 75.6 billion won and 17.3 billion won respectively, while foreigners sold 74.9 billion won.
Ji-Won Kim, a researcher at KB Securities, said, "The domestic stock market, which hit a historical high the previous day, is taking a breather due to the lack of additional upward momentum," adding, "Foreigners and institutions have jointly net bought KOSPI for four consecutive days, supporting the lower end of the index, and set a new high by breaking through the 3340 line, but the upward momentum has somewhat slowed."   

koreanbae@fnnews.com Bae Hangul Reporter