South Korea's two major markets closed higher. Although the KOSDAQ market showed weakness throughout the session after opening, it turned bullish before the close. Institutional investors provided support to both markets on this day. Analysts suggest that as retail investors adopted a wait-and-see stance amid an unstable macro environment marked by rising U.S. government bond yields and a sharp surge in international oil prices, the financial investment industry stepped in to bolster the market.
On the 16th, the KOSPI index closed at 6,717.97, up 90.71 points (1.37%) from the previous day. The KOSPI opened at 6,611.24, down 16.02 points (0.24%), and initially showed mixed trends with fluctuations between weakness and strength in the early session. After overcoming the early-session volatility, the index expanded its gains in the afternoon and turned bullish.
The KOSPI index is analyzed to have reflected the impact of rising U.S. 10-year government bond yields and international oil prices. Overnight at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed down 328.09 points (0.63%) from the previous trading day at 52,093.11, while the Standard & Poor's (S&P) 500 index closed down 34.25 points (0.45%) at 7,585.73. The NASDAQ index, centered on technology stocks, also fell 204.84 points (0.78%) to record 25,981.57.
Looking at KOSPI supply and demand trends, institutional investors made net purchases of 1.3425 trillion won worth of stocks as of the market close. Retail investors and foreign investors sold off stocks worth 1.6110 trillion won and 1.4007 trillion won, respectively.
By KOSPI industry sector, electrical and electronics rose by over 2%, while distribution, medical and precision equipment, and manufacturing each gained around 1%. In contrast, construction fell by over 2%, while IT services, entertainment and culture, transportation equipment and parts, electricity and gas, securities, and chemicals each declined by around 1%.
Among the top market capitalization stocks in the KOSPI, SK Hynix and Samsung Electro-Mechanics rose by over 4%. Following them, Samsung Electronics, SK Square, and Samsung C&T each gained around 1%. Doosan Enerbility fell by over 2%, while Hyundai Motor declined by around 1%.
The KOSDAQ closed at 815.98, up 3.57 points (0.44%) from the previous day. The KOSDAQ opened at 808.37, down 4.04 points (0.50%), continued a weak trend, and turned bullish starting at 2:44 p.m.
Examining KOSDAQ supply and demand trends, retail investors and institutional investors made net purchases of stocks worth 40.9 billion won and 20.1 billion won, respectively, as of the market close. Foreign investors sold off stocks worth 63.2 billion won.
By KOSDAQ industry sector, non-metallic minerals and machinery and equipment rose by over 2%, while chemicals, electrical and electronics, and manufacturing each gained around 1%. Communications fell by over 4%, while finance, publishing and media reproduction declined by around 2%.
Among the top market capitalization stocks in the KOSDAQ, Wonik IPS surged by over 10%. Following it, PSK rose by over 9%, and ISC gained by over 5%. Robotis fell by over 4%, while EcoPro, EcoPro BM, and Rainbow Robotics each declined by around 2%.
On this day, the won-dollar exchange rate closed weekly trading at 1,368.6 won, up 9.2 won from the previous trading day's 3:30 p.m. level.
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