KOSPI Composite Index nears 6,200 on institutional buying... "Earnings matter more than war" [Financial News Morning Market Report]

[Financial News] The KOSPI Composite Index climbed to just below the 6,200 level on the back of strong institutional buying. The market appears to be focusing more on major companies’ first-quarter earnings than on concerns over the Middle East situation.
At 10:35 a.m. on the 16th, the KOSPI Composite Index was trading at 6,188.08, up 96.69 points (1.59%) from the previous session. The index started the day at 6,149.49, up 0.95%, and has been extending its gains. During the session, it briefly rose 1.95% to 6,210.01, breaking above the 6,200 mark.
In the Stock Market Division, institutional investors alone are net buyers of 609.4 billion won. Retail investors and foreigners are net sellers of 494 billion won and 185.8 billion won, respectively.
By sector, transport equipment and parts (3.66%), IT services (3.51%), machinery and equipment (2.56%), entertainment and culture (2.45%), and textiles and apparel (1.93%) are all gaining. In contrast, construction (-1.44%), telecommunications (-1.30%), and non-metallic minerals (-0.29%) are declining.
Most large-cap stocks by market capitalization are trading stronger. In particular, Samsung Electronics (2.13%), SK hynix (1.76%), Hyundai Motor Company (6.30%), LG Energy Solution (0.49%), SK Square (1.80%), and Hanwha Aerospace (0.73%) are all advancing.
Market sentiment appears to have improved as expectations grow that the United States of America (US) and the Islamic Republic of Iran will continue negotiations to end the conflict. Karoline Leavitt, spokesperson for the White House, said at a briefing on the 15th (local time), "We remain actively engaged in negotiations and discussions, and we are optimistic about the prospects for an agreement."
Lee Sung-hoon, an analyst at Kiwoom Securities, noted, "The market is currently watching the first-quarter earnings season more closely than war-related risks," adding, "We expect risk-on sentiment to continue today, keeping the domestic stock market on an upward trajectory."
At the same time, the KOSDAQ market was trading at 1,165.79, up 13.36 points (1.16%) from the previous session. The index opened at 1,163.00, up 0.92% from the previous close.
In the KOSDAQ market, retail investors and institutions are net buyers of 198.8 billion won and 18.3 billion won, respectively. Foreign investors, on the other hand, are net sellers of 188.7 billion won.


yimsh0214@fnnews.com Lee Sang-hyuk Reporter