With Meta's earnings announcement scheduled for early morning on the 22nd (Korean time), Korea's two major stock exchanges closed in a strong position. Foreigners and institutional investors supported the KOSPI, while retail investors and institutional investors provided support for the KOSDAQ. In the KOSPI, as rebound buying poured in and the intraday gain widened, a buy-side sidecar (futures market circuit breaker) was triggered.
On the 21st, the KOSPI ended trading at 5735.66, up 182.92 points (3.29%) from the previous trading day. The KOSPI opened at 5653.99, up 113.60 points (2.05%), and continued its upward trend.
A buy-side sidecar was triggered in the KOSPI at 10:51:56 a.m. This marks the 25th time a buy-side sidecar has been activated in the KOSPI this year.
The KOSPI experienced significant intraday volatility on this day as rebound buying flowed in following its drop to its lowest level in six months compared to the previous trading day. However, the KOSPI has yet to recover after plunging amid record selling last week. This is because the debt burden from AI (artificial intelligence) investments acted as a negative factor for the domestic semiconductor sector, leading to large declines in the share prices of related stocks.
In the regular session of the KOSPI on this day, foreigners and institutional investors made net purchases of 952.8 billion won and 92.3 billion won, respectively. Retail investors made net sales of 1 trillion 550.6 billion won.
By sector in the KOSPI, medical and precision instruments rose by over 5%, while electrical and electronic products rose by over 4%. Metals, telecommunications, and textiles and apparel fell by over 1%.
Among top market capitalization stocks in the KOSPI, Samsung Electronics and SK Hynix rose by over 5% each. Following these stocks, SK Square and Samsung C&T, which are linked to them through shareholding and business ties, rose by over 4% each.
The KOSDAQ closed at 792.76, up 10.79 points (1.38%) from the previous trading day. The KOSDAQ opened at 793.40, up 11.43 points (1.46%), on this day and maintained its strength.
In the KOSDAQ, retail investors and institutional investors made net purchases of 58.2 billion won and 107.3 billion won in stocks, respectively. Foreigners made net sales of 180.8 billion won in stocks.
By sector in the KOSDAQ, general services rose by over 3%, while non-metals rose by over 2%. Paper and wood fell by over 1%.
Among top market capitalization stocks in the KOSDAQ, Alteogen, EcoPro BM, Jusung Engineering, Samchundang Pharm, and P.S.K. closed the regular session with gains of over 3%.
At 3:30 p.m. on this day, the won-dollar exchange rate ended daily trading at 1325.2 won, down 2.9 won (0.21%) from the same time the previous day.
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