Fear turned into buying within a day, and both major domestic stock markets closed higher. The rebound in the New York stock market overnight, driven by inflows of bargain hunting, carried over to the domestic market. Buying pressure concentrated across top KOSPI market capitalization stocks, including Samsung Electronics, while a buy sidecar (futures market circuit breaker) was also triggered in the KOSDAQ market. However, it was not enough to make up for the decline that evaporated in a single day.
On the 16th, the KOSPI index closed at 5,668.05, up 113.83 points (2.05%) from the previous day. The KOSPI opened at 5,653.99, up 99.77 points (1.80%), and at one point during trading rose by more than 4%. This marked a rebound for the KOSPI after eight trading days.
It is analyzed that bargain hunting inflows driven by an oversold phase entered the domestic stock market. This atmosphere appears to have begun when the New York stock market, which had fallen sharply due to concerns over debt burdens of AI (artificial intelligence) companies, rebounded overnight. In the overnight New York stock market, the Dow Jones 30 Industrial Average closed at 52,177.69, up 556.21 points (1.08%) from the previous day; the S&P 500 index rose by 25.12 points (0.33%) to 7,744.06; and the NASDAQ Composite Index, centered on technology stocks, closed at 26,713.03, up 20.16 points (0.08%).
KOSPI supply and demand dynamics differed between the morning and afternoon sessions. In the morning, retail investors and institutional investors showed a buying bias, while in the afternoon, foreign buying was distinct. As of market close, foreigners made net purchases worth 141.4 billion won on the KOSPI. Conversely, retail investors and institutional investors made net sales worth 397.4 billion won and 662.4 billion won, respectively.
By sector on the KOSPI, medical and precision equipment rose by more than 6%. Following this, entertainment and culture, securities, transportation equipment and parts, distribution, and pharmaceuticals all rose by more than 4%.
Among top KOSPI market capitalization stocks, Samsung Electronics rose by more than 2%, while SK Hynix remained nearly flat. Other strong performers included Samsung C&T and Hanwha Aerospace, which rose by more than 7%, and Celltrion, which rose by more than 6%.
The KOSDAQ index closed the regular session at 794.78, up 33.96 points (4.46%) from the previous trading day. The KOSDAQ opened at 772.17, up 11.35 points (1.49%), and expanded its gains. Around 12:55 p.m., a buy sidecar (futures market circuit breaker) was triggered as the KOSDAQ 150 futures price and the KOSDAQ 150 spot index rose sharply, suspending the validity of program buy orders for five minutes.
In the KOSDAQ market, institutional investors made net purchases. As of market close on this day, institutional investors made net purchases worth 173.6 billion won on the KOSDAQ. Retail investors and foreigners made net sales worth 113.8 billion won and 80.4 billion won, respectively.
By sector on the KOSDAQ, medical and precision equipment, non-metals, and general services rose by more than 6%, while pharmaceuticals and distribution rose by more than 5%. Publishing, media, and reproduction fell by more than 4%.
All top KOSDAQ market capitalization stocks up to the 22nd rank showed strength. Alteogen, PSK, ISC, and TSI each rose by more than 9%, while HPSP rose by more than 8%.
At 3:30 p.m. on this day, the won/dollar exchange rate closed daily trading at 1,331.4 won, down 13.2 won from the same time in the previous trading session.
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