KOSPI regains the 5,100 level despite ‘sell’ orders from retail and foreign investors [fn Afternoon Market]

[Financial News] The KOSPI continued to rise despite net selling by retail and foreign investors, regaining the 5,100 level.
As of 1:51 p.m. on the 9th, the KOSPI was trading at 5,113.54, up 53.85 points (1.06%) from the previous trading day.
Institutions are lifting the index with net purchases of 732.7 billion won. Retail and foreign investors, by contrast, are net sellers of 441.1 billion won and 661.5 billion won, respectively.
Samsung Electronics (2.17%), SK hynix (3.09%), SK Square (1.66%), Samsung Biologics (1.72%), and KB Financial Group (0.46%) rose, while LG Energy Solution (-4.00%), Samsung Electro-Mechanics (-0.23%), and Hyundai Motor (-1.61%) were weaker.
By sector, medical and precision instruments, paper and wood, electrical and electronic equipment, pharmaceuticals, insurance, and manufacturing were among the stronger sectors, while food, beverages and tobacco, transportation and warehousing, transportation equipment and parts, securities, entertainment and culture, and chemicals were down.
The inflow of bargain-hunting demand is seen as a response to the KOSPI’s sharp drop amid concerns over tighter regulation of the AI industry following the Democrats’ landslide victory in last week’s U.S. midterm elections.
Kim Jong-min, a researcher at Samsung Securities Co., Ltd., noted, “With concerns about delays to AI investment quickly priced in amid the ‘blue tsunami,’ South Korea’s stock market, a key pillar of the global AI value chain, suffered an excessive decline that temporarily broke through even valuation, supply-and-demand, and technical downside support levels,” adding, “Rather than being swept up in overwhelming fear and leaving the market, this is a time to remain levelheaded and prepare for what comes after the tsunami has passed.”
At the same time, KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 653.38, up 9.11 points (1.41%) from the previous session.

[email protected] Seo Min-ji Reporter