KOSPI Hits Intraday All-Time High on Strong Foreign and Institutional Buying [FN Afternoon Market Briefing]

According to The Financial News, the KOSPI hit an intraday all-time high, backed by simultaneous net buying from foreign and institutional investors.
As of 1:03 p.m. on the 27th, the KOSPI was trading at 5,039.59, up 90.00 points, or 1.82%, from the previous session.
The index had opened the day at 4,932.89, down 16.70 points, or 0.34%. At one point during the session, it slid as much as 58.87 points, or 1.19%, to 4,890.72, briefly falling below the 4,900 mark.
However, strong net buying by foreign and institutional investors pushed the index up as high as 5,048.91 intraday, a gain of 99.32 points, or 2.01%.
In the KOSPI market, foreign investors are net buyers of 310.1 billion won, while institutions are net buyers of 273.9 billion won. Individual investors, on the other hand, are net sellers of 504.3 billion won.
Among large-cap stocks by market capitalization, movements are mostly mixed. Samsung Electronics and SK hynix are surging 2.37% and 6.66%, respectively, from the previous day, while Hyundai Motor and Kia are weaker, down 0.81% and 1.87%.
By sector, telecommunications is leading gains with a 9.08% rise, followed by electrical and electronics at 3.28% and securities at 3.03%. Metals, down 1.23%, and transportation equipment and parts, down 1.20%, are among the weaker sectors.
The KOSDAQ Index, which closed above 1,000 points in the previous session, is currently trading at 1,075.43, up 11.02 points, or 1.04%.

dschoi@fnnews.com Reporter Choi Doo-seon Reporter