KOSPI Turns Higher in Early Trading, Attempts to Reclaim the 7,000 Level [Morning Market Update]

[Financial News] KOSPI (Korea Composite Stock Price Index) has turned higher in early trading and is trying to reclaim the 7,000 level.
As of 10:05 a.m. on the 14th, KOSPI was trading at 6,978.54, up 171.61 points, or 2.52%, from the previous session. The index opened lower that day, moved up and down, and then turned positive.
Institutions and foreign investors are net buyers, purchasing 177.43 billion won and 24.24 billion won, respectively, while individual investors are net sellers of 199.11 billion won.
Samsung Electronics and SK hynix are rebounding sharply and lifting the index. Samsung Electronics is up 5.89%, while SK hynix is gaining 4.50%.
Other gainers include SK Square (3.53%), Samsung Electro-Mechanics (3.03%), Samsung C&T Corporation (0.55%), and Kia (0.56%). Hyundai Motor Company (-2.82%), LG Energy Solution (-0.91%), Samsung Life Insurance (-1.23%), and KB Financial Group (-2.69%) are moving lower.
By sector, electric and electronics, manufacturing, medical and precision instruments, transportation and warehousing, electricity and gas, nonmetals, and securities are rising. Transportation equipment and parts, chemicals, food and tobacco, leisure and culture, paper and wood, pharmaceuticals, machinery and equipment, and real estate are weaker.
Kim Yoo-mi, a researcher at Kiwoom Securities, said, "The sharp rise in international oil prices and concerns over additional tightening in the United States could weigh on investor sentiment." She added, "However, since KOSPI plunged by nearly 9% the previous day, bargain hunting on the view that the decline was excessive is likely to help recover some of the losses."
Meanwhile, at the same time, KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 794.24, down 5.12 points, or 0.64%, from the previous session.

jisseo@fnnews.com Seo Min-ji Reporter