KOSPI Defends the 8,800 Level Despite Heavy Foreign Selling... Retail Investors Step In [Financial News Closing Market Report]

[The Financial News] On the 2nd, the KOSPI closed above 8,800 for the first time on a closing basis, supported by buying from individual and institutional investors despite heavy selling by foreigners.
The KOSPI ended the day at 8,801.49, up 13.11 points, or 0.15%, from the previous trading day. The index opened 94.81 points, or 1.08%, higher at 8,883.19 and briefly broke above 8,900 for the first time in history, but soon turned lower.
It struggled under intense foreign selling pressure, but recovered the 8,800 level as the market neared the close. Foreign investors net sold 660.93 billion won in the domestic stock market, dragging the index down. In contrast, individual and institutional investors net bought 635.01 billion won and 237.3 billion won, respectively, helping defend the market.
Samsung Electronics, the market-cap leader, closed at 360,500 won, up 3.30% from the previous session. It set another all-time high. SK hynix, meanwhile, edged down 0.13% to 2.36 million won.
Among the top 14 stocks by market capitalization, Samsung Life Insurance led gains with a 17.07% rise, followed by SK Square at 7.17%, Samsung C&T at 6.70%, and LG Electronics at 3.15%. On the other hand, Samsung Electro-Mechanics fell 9.58%, Doosan Enerbility 6.45%, Hyundai Motor 2.80%, and LG Energy Solution 2.75%.
The KOSDAQ closed at 1,026.03, down 24.00 points, or 2.29%, from the previous trading day. The index opened at 1,044.89, down 5.14 points, or 0.49%.

khj91@fnnews.com Kim Hyun-jung Reporter