The KOSPI index closed slightly higher on June 2, buoyed by strong buying from individual investors despite significant profit-taking by foreign investors. The index experienced increased volatility, dipping below the 8,500 mark during trading but managed to recover by the end of the session. In contrast, the KOSDAQ index fell sharply by over 2% due to profit-taking in recently leading stocks.
According to the Korea Exchange, the KOSPI finished the day at 8,801.49, up 13.11 points (0.15%) from the previous trading day.
The index opened at 8,883.19, rising as high as 8,933.62 shortly after the market opened. However, as foreign selling intensified, it dropped to 8,503.48 around 9:09 a.m. It later recovered much of its losses, successfully turning upward by the end of the trading day.
Lee Kyung-min, a researcher at Daishin Securities, noted, "The recent surge in prices led to short-term overheating concerns and profit-taking, resulting in a volatile market. The increased net selling by foreign investors applied downward pressure on stock prices, particularly in leading stocks that had recently surged."
He added, "However, news of Israel's decision to withdraw its plans for additional airstrikes helped stabilize international oil prices and eased geopolitical risk concerns, allowing individual buying to expand and the KOSPI to recover significantly from its intraday lows."
In the securities market, individuals and institutions net bought 8.1191 trillion won and 237 billion won, respectively, while foreign investors net sold 8.0505 trillion won.
Among the top market capitalization stocks, Samsung Electronics (up 3.30%), SK Square (up 7.17%), Samsung Life Insurance (up 17.07%), and Samsung C&T (up 6.70%) all closed higher. SK Hynix, which showed weakness during the day, managed to reduce its losses, closing down 0.13%. Conversely, Hyundai Motor (-2.80%), Samsung Electro-Mechanics (-9.58%), LG Energy Solution (-2.75%), and HD Hyundai Heavy Industries (-1.61%) all declined.
By sector, semiconductor and AI-related stocks, which had been leading recently, faced profit-taking pressure, while insurance stocks and some holding companies showed relative strength.
The KOSDAQ index closed at 1,026.03, down 24.00 points (2.29%) from the previous trading day.
In the KOSDAQ market, foreign and institutional investors net bought 337.3 billion won and 126.2 billion won, respectively, but individuals net sold 449.6 billion won.
Among the top market capitalization stocks, EcoPro BM (-4.35%), Alteogen (-2.46%), EcoPro (-2.15%), Rainbow Robotics (-3.30%), Samchundang Pharmaceutical (-7.50%), Rino Industry (-4.62%), HLB (-6.13%), and Pepton (-2.87%) all closed lower. In contrast, JUSUNG Engineering (up 6.15%) and Kolon TissueGene (up 15.26%) showed gains.
Lee noted, "While some related stocks continued to rise on expectations surrounding Jensen Huang, CEO of NVIDIA, the momentum appears to be gradually weakening. As leading stocks take a breather, a rotation among sectors is becoming evident."
* This article has been translated by AI.
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