KOSPI Breaks Above 8,750 During Trading as Foreign Investors Buy and Retail Investors Sell in a Wait-and-See Market [Afternoon Market Update]

[The Financial News] The KOSPI is trading above the 8,700 level during the session, supported by gains in Samsung Electronics and SK hynix and net buying by foreign investors.
As of 1:54 p.m. on the 16th, the KOSPI was trading at 8,704.30, up 158.32 points, or 1.85%, from the previous session.
The index opened at 8,698.55, up 150.57 points, or 1.76%, from the previous day. At one point during the session, it rose as much as 207.84 points, or 2.43%, to 8,753.82.
In the KOSPI Market, foreign investors are buying 717.7 billion won worth of shares. Institutions also hold a net buying position of 706 billion won. Retail investors, meanwhile, are net sellers of 1.4127 trillion won.
Among the largest companies by market capitalization, Samsung Electronics was trading at 341,250 won, up 1.19% from the previous session. SK hynix was trading at 2,371,000 won, up 3.63%.
By sector, construction led the gains with a 6.87% rise, followed by metals at 4.89% and financials at 2.49%. Electricity and gas fell 2.72%, while IT services dropped 1.54%.
The KOSDAQ Index was trading at 1,022.38, down 11.65 points, or 1.13%, from the previous session.


dschoi@fnnews.com Choi Du-seon Reporter