On the 29th, the KOSPI index closed higher on strong buying by institutional investors. This marks a rise for the third consecutive trading day. The KOSPI index has recovered the 2560 level for the first time in about a month. The KOSDAQ index also rose by nearly 1%.
On this day, stocks that announced their Q1 results showed varied trends depending on their performance. In the afternoon, the People Power Party announced the results of the second primary, which caused volatility in politician-themed stocks.
On this day, the KOSPI index closed at 2565.42, up 16.56 points (0.65%) from the previous trading day. The index opened at 2550.25, which was an increase of 1.39 points (0.05%) from the previous closing. It briefly turned to decline early in the session but later widened its gains due to institutional buying, surpassing the 2570 mark at one point.
On this day, institutional investors net bought 356.7 billion won. Individuals and foreigners sold 167 billion won and 234.5 billion won worth of stocks, respectively.
In the securities market, Samsung Electronics, the leading semiconductor stock, fluctuated but closed at the same price of 55,800 won as the previous day. The preferred stock of Samsung Electronics rose by 0.54%. Meanwhile, SK hynix closed 0.66% lower at 180,800 won. Additionally, LG Energy Solution, Samsung Biologics, Hyundai Motor, Celltrion, Kia, and HD Hyundai Heavy Industries also saw their stock prices increase.
On this day, Hanwha Group stocks were generally weak. In particular, Hanwha Ocean closed at 78,500 won, down 12.09% from the previous trading day. This decline is attributed to concerns over the overhang from the sale of equity by the Korea Development Bank. Stocks such as Hanwha Systems (-7.09%), Hanwha (-3.76%), Hanwha Engine (-3.05%), and Hanwha Aerospace (-2.18%) also declined.
LG H&H closed at 341,000 won, up 6.90% from the previous trading day, after announcing that it performed well in Q1. It even reached a 9.25% increase during intraday trading, recording a high of 348,500 won. The previous day, LG H&H reported that its consolidated Q1 operating profit was 142.4 billion won, a decrease of 5.7% compared to the same period last year. This result exceeded market expectations, prompting securities firms to consecutively raise their target prices.
On this day, the KOSDAQ index closed at 726.46, up 7.05 points (0.98%) from the previous trading day. In the KOSDAQ market, institutional investors net bought 40.4 billion won. Foreigners also purchased 133.3 billion won worth of stocks, while individuals net sold 163.4 billion won.
Among the top 10 stocks by market capitalization on the KOSDAQ, Alteogen, Rainbow Robotics, HUGEL, CLASSYS, PharmaResearch, Peptron, and LigaChem Biosciences saw their stock prices rise. In contrast, Ecopro BM fell 2.01% to close due to news that its Q1 operating profit decreased by 66% compared to the same period last year. Ecopro also dropped 0.78%.
Hong Joon-pyo, the candidate who faced defeat in the People Power Party presidential primary, announced his withdrawal from politics on this day, causing related stock Gyeongnam Steel to hit the lower limit and close at 3,355 won. Humax Holdings also closed down 13.94% at 2,160 won. Humax Holdings is classified as a thematic stock because CEO Byeon Dae-gyu is known to be an alumni of Daegu Yeongnam High School, where Hong Joon-pyo studied, and Gyeongnam Steel is located in Changwon, Gyeongsangnam-do, Hong's hometown.
As of 3:30 p.m. in the Seoul foreign exchange market, the won-dollar exchange rate recorded 1,437.3 won, down 5.3 won from the previous day.