KOSPI rises 4% on foreign buying spree worth 2.8 trillion won [fn afternoon market]

[Financial News] The KOSPI is rising more than 4%, supported by foreign buying worth 2.8 trillion won.
As of 2:16 p.m. on the 13th, the KOSPI was trading at 6,842.21, up 263.17 points, or 4.005%, from the previous day, according to the Korea Exchange.
On the Korea Exchange Main Board, foreigners and institutions were net buyers of 2.8467 trillion won and 222.8 billion won, respectively, while individual investors were net sellers of 3.0425 trillion won.
By sector, Electric and Electronics (6.15%), Manufacturing (4.84%), and Telecommunications (2.68%) were strong, while Electricity and Gas (-5.50%), Entertainment and Culture (-1.80%), and nonmetal (-1.76%) were weak.
Among the largest-cap stocks, Samsung Electro-Mechanics (15.73%), SK Square (9.38%), and SK hynix (7.31%) were gaining, while Samsung Life Insurance (-2.81%), Samsung Fire & Marine Insurance (-2.87%), and Celltrion (-0.25%) were falling.
At the same time, the KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 865.11, up 6.20 points, or 0.72%, from the previous day. Individual investors were net buyers of 254.3 billion won, while foreigners and institutions were net sellers of 110.5 billion won and 140.7 billion won, respectively.
Brokerage firms said the market was lifted by a solid July Consumer Price Index (CPI) reading in the United States and strong earnings from artificial intelligence (AI) infrastructure stocks.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp., said, "The U.S. July CPI matched expectations, easing concerns and raising hopes that the benchmark rate will be kept unchanged." He added, "AI sentiment improved after strong results from CoreWeave (CRWV), Super Micro Computer, Inc. (SMCI), and Nebius Group N.V. (NBIS), along with announcements of major cloud contracts."

[email protected] Baek Han-geul Reporter