KOSPI Fluctuates Around 5,450 Level on Retail Buying Despite Surge in Global Oil Prices

According to The Financial News, the Korea Composite Stock Price Index (KOSPI), which briefly fell below the 5,400 level in the morning amid a sharp rise in global oil prices, is now fluctuating around the 5,450 level on the back of strong retail buying.
According to the Korea Exchange (KRX), as of 1:37 p.m. on the 13th, the KOSPI was trading at 5,452.23, down 131.02 points (2.35%) from the previous session. The index opened at 5,412.39, a drop of 3.06%, and at one point during the session slid to as low as 5,392.52.
In the KOSPI market, individual investors are net buyers of 2.5528 trillion won, while foreign investors and institutions are net sellers of 1.5971 trillion won and 981.5 billion won, respectively.
By sector, construction (up 5.86%), energy and gas (up 1.14%), and IT services (up 1.01%) are showing strength, while chemicals (down 3.44%), electrical and electronics (down 2.91%), and metals (down 2.74%) are weak.
Among large-cap stocks, Doosan Enerbility (up 2.03%), KEPCO (up 1.47%), and KB Financial Group (up 0.20%) are gaining, while LG Energy Solution (down 4.17%), SK Square (down 3.79%), and Kia (down 2.93%) are declining. Major semiconductor names such as Samsung Electronics (down 2.55%) and SK hynix (down 2.58%) are also trading lower.
The KOSDAQ (Korean Securities Dealers Automated Quotations), which had turned higher during the session, moved back into negative territory in the afternoon. At the same time, the KOSDAQ was trading at 1,145.43, down 2.97 points (0.26%) from the previous session.
On the KOSDAQ, institutions are net buyers of 200.6 billion won, while individuals and foreign investors are net sellers of 31.7 billion won and 131.2 billion won, respectively.
Kang Jinhyuk, a researcher at Shinhan Securities, said, "Despite President of the United States Donald Trump's declaration of victory, the U.S. market closed lower overnight as Israel signaled its willingness to wage a prolonged war and the Supreme Leader of the Islamic Republic of Iran hinted at continuing a hard-line response, including a blockade of the Strait of Hormuz." He added, "The KOSPI, which was weak in early trading due to risk-off sentiment, is showing a pattern of recovering later in the session after holding the 5,400 level."
koreanbae@fnnews.com Bae Han-geul Reporter