Institutions ‘buy’ 1.2 trillion won despite foreign selling... KOSPI closes up 2.24% [Market Close]

[Financial News] KOSPI closed up more than 2% on net institutional buying of over 1.2 trillion won. It fell to the 5,600 level early in the session, but rebounded as major semiconductor stocks, including Samsung Electronics and SK hynix, rose in tandem. The KOSDAQ Index also gained more than 1%. On the 2nd, KOSPI closed at 5,859.08, up 128.34 points (2.24%) from the previous trading session. After falling for two consecutive sessions on the 29th and 30th of last month, it rose for the first time in three trading sessions.
The index opened at 5,637.77, down 92.97 points (1.62%), and fell as low as 5,616.50 during the session. It then turned higher, climbing as high as 5,910.83 at one point and pushing its gain to 3.14%, before giving back some of its gains late in the session.
Institutional investors led the buying. On the securities market, institutions made net purchases of 1.2324 trillion won. Financial investment firms, investment trusts, pension funds and others, and private equity funds made net purchases of 577.1 billion won, 264.4 billion won, 169.9 billion won, and 166 billion won, respectively.
Individuals and foreign investors, by contrast, made net sales of 1.3471 trillion won and 368.4 billion won, respectively. Other corporations recorded net buying of 487.7 billion won.
Major semiconductor stocks rose in tandem. Samsung Electronics closed at 229,000 won, up 1.78% from the previous trading session. It was weak early in the session but turned higher and held on to its gains. SK hynix closed at 1,472,000 won, up 3.81%.
The KOSDAQ Index closed at 734.36, up 9.98 points (1.38%) from the previous trading session. It opened lower at 716.44 and fell as low as 716.21 during the session, but then rebounded. It climbed as high as 738.01 at one point before paring its gains.

[email protected] Choi Doo-seon Reporter