KOSPI closes around 5,670 on 1.5 trillion won in institutional buying, KOSDAQ jumps 4.94% [fn Closing Market]

[Financial News] The Korea Composite Stock Price Index (KOSPI) ended around the 5,670 level, supported by net institutional buying of about 1.5 trillion won. KOSDAQ also surged as both foreign investors and institutions turned strong buyers, triggering a buy-side sidecar at one point in the morning session.
According to the Korea Exchange (KRX) on the 19th, the KOSPI closed at 5,677.25, up 170.24 points (3.09%) from the previous trading day. The index opened at 5,642.09, up 2.45% from the previous close, and then spiked just before the close to briefly touch 5,681.65.
In the main KRX market, institutions posted net purchases of 1.5243 trillion won. Retail investors and foreign investors recorded net sales of 474.8 billion won and 1.1073 trillion won, respectively.
Strong gains in large-cap semiconductor stocks and securities shares drove the index higher. Samsung Electronics and SK Hynix each touched intraday highs of 1,908,000 won and 9,130,000 won before closing at 1,900,000 won (up 4.86%) and 8,940,000 won (up 1.59%), respectively. In the securities sector, Sangsangin Securities (up 29.98%), SK Securities (up 29.96%), and Hanwha Investment & Securities (up 29.89%) all hit their upper price limits.
By sector, securities (up 12.97%), construction (up 5.97%), and paper and lumber (up 5.07%) were strong, while telecommunications (down 1.57%) and food, beverages and tobacco (down 0.14%) underperformed.
A buy-side sidecar was activated on KOSDAQ during the morning session. The Korea Exchange triggered a buy-side sidecar on the KOSDAQ market at 10:41 a.m. that day. At the time of activation, KOSDAQ 150 futures were trading at 2,027.20, up 120.40 points (6.31%) from the previous session.
A KOSDAQ buy-side sidecar is triggered when the KOSDAQ 150 futures price rises at least 6% above its 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.
KOSDAQ closed at 1,160.71, up 54.63 points (4.94%) from the previous trading day. Foreign investors and institutions recorded net purchases of 1.0461 trillion won and 1.0597 trillion won, respectively, while retail investors posted net sales of 2.0363 trillion won.
Jungeun Lim, a researcher at KB Securities, said, "KOSDAQ surged as the government continued to roll out index-boosting measures, including the announcement of the 'Plan to Accelerate the Exit of Insolvent Companies,' and every stock up to 30th by market capitalization closed higher than the previous day." Lim added, "Securities stocks jumped sharply as momentum from the third amendment to the Commercial Act, which includes mandatory cancellation of treasury shares, continued."


koreanbae@fnnews.com Baek Han-geul Reporter