KOSPI tests 4,700 level and searches for direction as retail and institutions turn net buyers

According to Financial News, the Korea Composite Stock Price Index (KOSPI) is fluctuating within a trading range after breaking through the 4,700 level intraday for the first time in its history.
As of 2:00 p.m. on the 14th, the KOSPI stood at 4,704.73, up 12.09 points (0.26%) from the previous trading day. The index opened at 4,685.11, down 0.16% from the previous close, but quickly turned higher after the market opened and succeeded in breaking above the 4,700 level for the first time ever. Strong buying during the session pushed the index as high as 4,715.75.
In the KOSPI Market, individual investors and institutions are leading the gains by net buying 204.9 billion won and 657 billion won worth of shares, respectively. Foreign investors are showing a net selling stance of 1.048 trillion won.
By sector, distribution (2.65%), securities (2.15%) and construction (1.75%) are on the rise, while electricity and gas (-3.42%), metals (-2.04%) and transportation equipment and components (-1.17%) are weaker.
Among large-cap stocks by market capitalization, Samsung Electronics (1.24%), Samsung Biologics (1.21%) and Hyundai Motor Company (0.86%) are advancing, whereas SK Hynix (-0.41%), LG Energy Solution (-1.27%) and Hanwha Aerospace (-1.44%) are underperforming.
Overnight, major U.S. stock indices closed lower as key inflation indicators, including the December Consumer Price Index (CPI), came in line with market consensus, while political risks stemming from the Trump administration weighed on sentiment.
In the domestic market, the index set a new record high by breaking through the 4,700 level intraday, but profit-taking is emerging, particularly in semiconductor stocks.
Lee Jaewon, securities analyst at Shinhan Securities, said, "Today, the rally in semiconductor stocks is taking a breather, while rotational buying is appearing in automobiles, shipbuilding and defense stocks," adding, "Foreign investors have continued net selling in both the KOSPI and KOSDAQ markets for five consecutive trading days, and the timing of the start of their selling coincides with the sharp rebound in the won–dollar exchange rate."
The KOSDAQ Index is trading at 940.46, down 8.52 points (0.90%) from the previous session. The index opened at 951.03, up 0.22% from the previous close.
In the KOSDAQ market, individual investors have net bought 461.2 billion won, while foreign investors and institutions are net sellers of 324.2 billion won and 131.5 billion won, respectively.

nodelay@fnnews.com Park Ji-yeon Reporter