On June 24, South Korea's stock market closed higher, rebounding from a sharp decline the previous day.
According to the Korea Exchange, the KOSPI rose by 303.97 points (3.71%) to close at 8507.81. The index started the day up 125.95 points (1.86%) and peaked at an increase of 373.68 points (4.55%). Although it briefly fell by 122.85 points (1.50%) in the afternoon, it ultimately regained momentum.
In the securities market, individual investors purchased a net 1.867 trillion won, while institutions bought a net 2.572 trillion won. In contrast, foreign investors sold a net 4.348 trillion won.
Among the top KOSPI stocks, results were mixed. Samsung Biologics (up 8.80%), Samsung C&T (up 5.82%), Samsung Life (up 1.88%), Doosan Enerbility (up 1.57%), and LG Energy Solution (up 0.97%) all closed higher. Conversely, SK Square (down 1.80%), Samsung Electro-Mechanics (down 1.31%), Hyundai Motor (down 0.39%), and HD Hyundai Heavy Industries (down 0.17%) ended lower. Samsung Electronics closed at 340,500 won, up 9.84%, while SK Hynix finished at 2,580,000 won, up 0.98%.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The KOSPI turned bullish due to a rebound buying trend following the previous day's sharp drop. Samsung Electronics saw significant gains following news of a 90 trillion won share buyback, reclaiming its position as the top market cap and widening the gap with SK Hynix."
He also pointed out that discussions around taxation from the political sphere added volatility to the market. "Kim Yong-beom, head of the Presidential Policy Office, mentioned the need for social discussions regarding the use of excess tax revenue, which dampened investor sentiment and increased volatility during the trading session," he explained.
Meanwhile, the KOSDAQ also closed higher, with the index rising by 17.79 points (2.00%) to finish at 909.31. It opened at 905.13, up 13.61 points (1.53%).
In the KOSDAQ market, foreign and institutional investors sold a net 32.2 billion won and 316.2 billion won, respectively, while individuals bought a net 334.2 billion won.
Most of the top KOSDAQ stocks surged. Alteogen (up 11.56%), Rigakem Bio (up 10.72%), Samchundang Pharm (up 6.49%), Kolon TissueGene (up 6.20%), HLB (up 5.68%), IOTech (up 5.54%), EcoPro (up 4.76%), Rainbow Robotics (up 2.39%), EcoPro BM (up 1.19%), and Rino Industrial (up 0.47%) all saw gains. However, JUSUNG Engineering dipped slightly by 0.98%.
By sector, results varied. Pharmaceuticals (up 7.84%), electronics (up 5.04%), retail (up 4.05%), chemicals (up 2.54%), machinery (up 2.07%), metals (up 1.86%), insurance (up 1.24%), and transportation equipment and parts (up 0.89%) all increased. In contrast, IT services (down 0.59%) and finance (down 0.02%) experienced declines.
* This article has been translated by AI.
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