KOSPI strengthens above 5,640 on institutional buying; KOSDAQ jumps 4.42% [Afternoon Market Snapshot]

Financial News reported that the Korea Composite Stock Price Index (KOSPI) is trading firmly above the 5,640 level, supported by strong institutional buying. The KOSDAQ market even saw a temporary suspension of buy orders in the morning due to the activation of a buy-side sidecar.
According to the Korea Exchange (KRX) on the 19th, as of 1:51 p.m. the KOSPI was trading at 5,645.76, up 138.75 points (2.52%) from the previous day. The index started the day at 5,642.09, a 2.45% gain, and extended its advance in the morning to touch an intraday high of 5,673.11.
In the KOSPI cash market, individuals and institutions are net buyers of 125.1 billion won and 1.0751 trillion won, respectively, while foreigners are net sellers of 1.2655 trillion won.
Early strength in the two leading large-cap semiconductor stocks and a record-high rally in brokerages helped the KOSPI break through the 5,600 level. Samsung Electronics climbed as high as 190,900 won during the session, hitting a new all-time high, while SK hynix touched 913,000 won. In the afternoon, they were trading around 180,000 won and 890,000 won, respectively.
By sector, securities stocks are surging 12.67%, while construction (6.28%) and paper and lumber (4.96%) are also strong. In contrast, telecommunications (-1.34%) and real estate (-0.11%) are showing weakness.
Among large-cap stocks by market capitalization, Mirae Asset Securities is up 14.94%, Hanwha Ocean 8.09%, and HD Hyundai Heavy Industries 5.34%. On the downside, Shinhan Financial Group is down 1.76%, Hana Financial Group 0.86%, and KB Financial Group 0.36%.
In the KOSDAQ market, strong net buying by foreigners and institutions triggered a buy-side sidecar in the morning. The Korea Exchange activated the buy-side sidecar on the KOSDAQ market at 10:41 a.m. At the time of activation, KOSDAQ 150 futures were at 2,027.20, up 120.40 points (6.31%) from the previous session.
A KOSDAQ buy-side sidecar is triggered when the price of KOSDAQ 150 futures rises at least 6% from the reference price and, at the same time, the KOSDAQ 150 index gains at least 3% from the previous day’s close for one full minute.
As of 1:51 p.m., the KOSDAQ was trading at 1,155.32, up 49.24 points (4.45%). Foreign investors and institutions were net buyers of 926.8 billion won and 748.4 billion won, respectively, while individuals were net sellers of 1.6257 trillion won.
Lee Jae-won, a researcher at Shinhan Investment & Securities, explained, "Samsung Electronics breaking through 190,000 won has driven the KOSPI above the 5,600 level," adding, "Brokerage stocks have delivered strong earnings on the back of expanded shareholder returns and increases in trading value, customer deposits, and margin balances."


koreanbae@fnnews.com Reporter Bae Han-geul Reporter