KOSPI recovers to the 5,770 level after opening lower, rebounds on net institutional buying [fn Morning Market Update]

[Financial News] KOSPI overcame early losses and turned higher on the 2nd. With institutions stepping in as net buyers, KOSDAQ is also gaining.
As of 10:40 a.m. that day, KOSPI stood at 5,778.59, up 47.85 points (0.83%) from the previous trading day. The index opened down 1.62% at 5,637.77 and fell as low as 5,616.50 intraday, but later recouped its losses and turned higher. At one point, it climbed to 5,820.35.
Institutional buying picked up. At the same time, institutions were net buyers of 587.3 billion won on the Korea Exchange’s main board. Financial investment firms, pension funds and private funds each recorded net purchases worth 310 billion won, 199.3 billion won and 73.3 billion won, respectively. Individual investors and foreign investors, by contrast, were net sellers of 390.6 billion won and 297.3 billion won, respectively.
Major semiconductor stocks were mixed. Samsung Electronics Co., Ltd. traded down 0.67% at 223,500 won, while SK hynix was up 1.76% at 1,443,000 won.
On the Korea Exchange’s main board, 623 stocks rose, including two that hit the upper limit, while 236 fell. Another 52 were unchanged. By market capitalization, large-cap stocks rose 0.79%, mid-cap stocks 1.88% and small-cap stocks 1.25%.
The KOSDAQ index was up 4.56 points (0.63%) at 728.94.
[email protected] Choi Doo-seon Reporter