KOSPI recovers 5,300 level as foreign investors turn net buyers; KOSDAQ surges 5% [fn Afternoon Market Update]

[Financial News] The KOSPI, which was weak early in the session amid concerns about a half-point rate hike in the United States, rose more than 2% on the afternoon of the 11th to recover the 5,300 level. The KOSDAQ surged more than 5%, moving above 700.
As of 1:47 p.m. that day, the KOSPI stood at 5,371.08, up 131.95 points (2.52%) from the previous day. The index opened at 5,209.71, down 29.42 points (0.56%) from the previous session, then turned higher and climbed as high as 5,376.51 during the session.
On the main board, foreign investors, who had been net sellers early in the session, turned to net buying and were purchasing 334 billion won. Individual and institutional investors were net sellers of 503 billion won and 280.7 billion won, respectively.
By stock, Samsung Electronics was trading at 205,500 won, up 3.32% from the previous day. SK hynix was up 5.61% at 1.28 million won. Both stocks, which had fallen early in the session, turned higher.
Among stocks with the largest market capitalizations, SK Square (4.21%), Samsung Electro-Mechanics (3.63%), LG Energy Solution (1.06%), Samsung Life Insurance (1.64%) and KB Financial Group (0.46%) were among those gaining.
By contrast, Samsung Biologics (-2.52%) and Hyundai Motor (-1.09%) were among the decliners.
The KOSDAQ index stood at 701.78, up 34.17 points (5.12%) from the previous day. It opened at 668.48, up 0.87 points (0.13%), then extended its gains. A buy-sidecar was triggered at around 11:28 a.m. that day.
A buy-sidecar was triggered for the KOSDAQ market the previous day as well, marking two consecutive days of activation.
On the KOSDAQ, institutional investors were net buyers of 212.9 billion won. Individual and foreign investors were net sellers of 148.8 billion won and 65.4 billion won, respectively.
Gains were particularly strong among semiconductor materials, components and equipment stocks and secondary battery stocks. Jusung Engineering (14.18%), SIMMTECH (10.41%), EO Technics (7.27%) and LEENO Industrial (5.14%) were among the gainers. ECOPRO BM and EcoPro were also up 11.52% and 8.83%, respectively.
Alteogen (4.65%), Rainbow Robotics (7.85%) and Sam Chun Dang Pharm. (3.63%) were also strong. HLB, by contrast, was down 1.82%.
[email protected] Joo Won-gyu Reporter