Other corporations net-buy over 1 trillion won... KOSPI rises more than 1% to the 6,800 level [fn afternoon market update]

[Financial News] KOSPI (Korea Composite Stock Price Index) is rising more than 1% in the afternoon, supported by net buying from other corporations. The market believes the buying was boosted as Samsung Electronics and SK hynix launched large-scale share buybacks one after another. At 2:30 p.m. on the 26th, KOSPI was trading at 6,841.73, up 98.99 points, or 1.47%, from the previous session. The index opened at 6,727.25, down 0.23% from the previous close, then moved within a narrow range before widening its gains in the afternoon. 
Individual investors took profits by selling 20.34 billion won worth of shares in the main board. Foreign investors were net sellers of 29.4 billion won, while institutions showed a net buying position of 712.8 billion won. 
In particular, net buying by other corporations reached 1.4669 trillion won.
By sector, insurance rose 6.34%, electricity and gas 5.59%, and construction 5.37%. Transportation and warehousing fell 2.74%, metals 2.17%, and medical and precision instruments 1.68%.
Domestic stocks are showing a cautious mood ahead of NVIDIA Corporation's earnings release on the following day. The buying by other corporations, which is believed to reflect share buybacks by Samsung Electronics and SK hynix, is seen as supporting the index on the downside.
Major semiconductor stocks such as Samsung Electronics, up 2.14%, and SK hynix, up 1.67%, turned higher in the afternoon.
SK Square fell 0.38%, Samsung Electro-Mechanics dropped 1.69%, and Hyundai Motor Company lost 1.9%. In contrast, LG Energy Solution rose 0.29%, Samsung Biologics gained 4.57%, Samsung C&T climbed 4.9%, and Samsung Life Insurance jumped 9.47%.
After the United States announced economic sanctions on Iran, expectations grew that the risk of military conflict would recede and that a ceasefire could emerge. As a result, interest rates and oil prices fell. Wall Street then closed higher overnight as bargain hunting flowed into semiconductor stocks such as Micron Technology, up 2.4%, and NVIDIA Corporation, up 2.2%.
Han Ji-young, a researcher at KIWOOM Securities, said, "There is still reason to doubt the continuity of the rebound in the domestic stock market," but added, "It is worth paying attention to the improving resilience within the market itself."
At the same time, the KOSDAQ (Korea Securities Dealers Automated Quotations) index was trading at 825.16, down 1.99 points, or 0.24%, from the previous session. The index opened at 824.77, down 0.29% from the previous close, and has since moved within a narrow range.


[email protected] Park Ji-yeon Reporter