The KOSPI index reached a new intraday high, buoyed by strong institutional buying.
As of 2:04 PM on May 29, the KOSPI was up 255.05 points (3.12%) at 8440.45, according to the Korea Exchange. The index opened at 8384.31, rising 199.02 points (2.43%) from the previous trading day, and despite some fluctuations, it maintained an upward trend.
The index surged to 8458.25, surpassing the previous intraday high of 8457.09. Although it has since given back some gains, it remains solidly above the 8400 mark.
In terms of trading volume, individuals and foreign investors sold a net 896.5 billion won and 1.9705 trillion won, respectively, while institutions bought a net 2.8016 trillion won, driving the index higher.
Major stocks in the securities market also showed strong performance. Samsung Electronics rose 4.92%, SK Hynix increased by 1.14%, SK Square was up 1.46%, Samsung Electro-Mechanics surged 13.41%, Hyundai Motor climbed 7.09%, LG Energy Solution gained 3.39%, Samsung Life Insurance rose 7.55%, HD Hyundai Heavy Industries increased by 0.71%, and Samsung C&T was up 8.14%.
In contrast, the KOSDAQ index struggled, recording a decline. At the same time, the KOSDAQ was down 33.83 points (-3.06%) at 1070.53. It opened at 1112.15, up 7.79 points (0.71%) from the previous day, but reversed course due to selling pressure from foreign and institutional investors.
In the KOSDAQ market, individuals bought a net 306.7 million won, but foreign and institutional investors sold a net 926 million won and 2.264 trillion won, respectively, pulling the index down.
Top stocks in the KOSDAQ also generally showed weak performance. EcoPro BM fell 1.37%, Alteogen dropped 1.35%, EcoPro declined 3.39%, Juseong Engineering was down 0.72%, Kolon TissueGene fell 6.76%, Rino Technology decreased by 1.82%, Peptron dropped 2.50%, and HLB was down 0.59%. Conversely, Rainbow Robotics rose 0.57%, and Samchundang Pharmaceutical was up 0.15%.
* This article has been translated by AI.
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