KOSPI Attempts to Reclaim the 7,000 Level... Up 4% to the 6,800 Range on Institutional and Foreign Buying [Afternoon Market Update]

[Financial News] KOSPI (Korea Composite Stock Price Index) rose to the 6,800 range on the 21st, driven by buying from institutions and foreign investors.
As of 1:50 p.m. that day, KOSPI was trading at 6,810.68, up 294.41 points, or 4.52%, from the previous session. It opened 0.58% higher at 6,553.88 and extended its gains throughout the day.
The sharp rally briefly triggered a buy-sidecark. At around 12:41 p.m., the KOSPI 200 Index rose 5.17% from the previous close to 1,086.58. A KOSPI buy-sidecark is triggered when KOSPI 200 futures rise more than 5% from the reference price and stay there for one minute.
Institutions and foreign investors led the index higher with net purchases of 1.6417 trillion won and 256.5 billion won, respectively. Retail investors, meanwhile, posted net sales of 1.8846 trillion won.
Most large-cap stocks were firm. Samsung Electronics rose 6.45%, SK hynix 5.05%, SK Square 5.69%, Samsung Electro-Mechanics 2.43%, Hyundai Motor Company 0.38%, and Samsung Biologics 4.09%.
By sector, electric and electronics gained 5.38%, distribution 5.12%, manufacturing 4.50%, IT services 3.09%, electricity and gas 3.10%, insurance 2.51%, finance 2.47%, and construction 2.44%. Entertainment and culture fell 1.28%, paper and wood 0.65%, and metals 0.64%.
At the same time, KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 755.69, up 6.05 points, or 0.81%, from the previous session. It opened at 750.07, up 0.06% from the prior day.
Retail investors were net buyers of 179.3 billion won on KOSDAQ. Foreign investors and institutions, on the other hand, were net sellers of 153.4 billion won and 28.1 billion won, respectively.

[email protected] Reporter Lim Sang-hyeok Reporter