KOSPI rebounds to the 6,700 level on institutional and foreign buying, boosted by strong exports [fn closing market report]

[Financial News] The KOSPI reclaimed the 6,700 level on buying from institutions and foreign investors. The recovery in investor sentiment appears to have been supported by record-high export performance in semiconductors and other sectors.
On the 21st, the KOSPI closed at 6,747.95, up 231.68 points, or 3.56%, from the previous session. It opened 0.58% higher at 6,553.88 and widened its gains through the day.
On the Korea Exchange Main Board, institutions and foreign investors bought a net 1.3745 trillion won and 295 billion won, respectively. Retail investors, meanwhile, sold a net 1.6422 trillion won.
Most large-cap stocks finished higher. Samsung Electronics rose 6.15%, SK hynix gained 4.08%, SK Square climbed 6.46%, Samsung Electro-Mechanics advanced 2.75%, Samsung Biologics rose 3.72%, and Samsung Life Insurance increased 4.81%. LG Energy Solution, however, ended down 0.16%.
By sector, retail rose 5.15%, electrical and electronics 4.76%, manufacturing 3.92%, insurance 3.33%, medical and precision equipment 2.86%, IT services 2.52%, and financials 2.48%. Leisure and culture fell 1.67%, nonmetallic materials 1.12%, and paper and wood 0.87%.
Strong exports led by semiconductors drove the index higher. According to the 'Import and Export Status for July 1-20' released by the Korea Customs Service (KCS) on the day, exports totaled $54.933 billion, up 52.3% from a year earlier. Semiconductor exports alone reached $22.113 billion, surging 180.6% from the same period last year. Semiconductors accounted for 40.3% of total exports, up 18.4 percentage points.
Kang Jin-hyuk, a researcher at Shinhan Investment & Securities, said, "Korean exports hit an all-time high, drawing attention at a time when sentiment and liquidity have been weak," and added, "Along with the rebound in major semiconductor stocks, the KOSPI, which had been fluctuating around the flat line, expanded its gains."
The KOSDAQ closed at 753.34, up 3.70 points, or 0.49%, from the previous session. It opened at 750.07, up 0.06% from the previous trading day.
On the KOSDAQ, retail investors were the only net buyers, purchasing 144.7 billion won worth of shares. Foreign investors and institutions sold 134.2 billion won and 14.4 billion won worth of shares, respectively.
[email protected] Lim Sang-hyuk Reporter