On the 21st, the KOSPI index rose back above the 3200 level for the first time in four trading days. During the session, individual selling came in, causing it to dip below 3200, but it closed higher thanks to net purchases from foreign and institutional investors.
Samsung Electronics, SK hynix, and LG Energy Solution, which are the leading stocks in the domestic stock market, all rose, contributing to the overall market uptrend.
The KOSPI index closed at 3210.81 that day. It rose by 22.74 points (0.71%) compared to the previous trading day, surpassing the 3210 mark. The KOSPI started trading in a strong upward trend amid uncertainty ahead of corporate earnings announcements and the mixed performance in global markets, recovering above 3200 on net buying from foreign and institutional investors during the session.
Foreign and institutional investors drove the index's rise by engaging in "dual buying" with net purchases of 660 billion won and 250 billion won, respectively. In particular, foreign investors maintained a buying advantage for eight trading days in a row despite concerns about high prices. They also showed "buying" in KOSPI 200 futures. Individual investors, however, showed a solitary selling advantage of 970 billion won.
Lee Kyung-min, a researcher at DAISHIN SECURITIES, noted, "Although the global stock markets closed mixed last weekend, the upward trend in the KOSPI continued," and added, "Recently, foreign investment banks like JP Morgan have been optimistic about governance reforms, projecting the KOSPI to hit 5000 within two years, indicating that the current index level is not burdensome."
Among the top 10 stocks by market capitalization on the KOSDAQ, eight closed higher. The leading stock, Samsung Electronics, rose by 1.04%, while SK hynix increased by 1.3%, driving the market up. LG Energy Solution rose nearly 3% following news that the Chinese government would pursue production cuts for electric vehicles, batteries, and solar panels. HD Hyundai Heavy Industries and Samsung Heavy Industries saw their second-quarter performance expectations rise due to strong export demand, increasing by 4.81% and 3.25% respectively. On the other hand, Samsung Biologics, Hyundai Motor, and Kia closed at lower prices compared to the previous trading day.
However, investors are watching upcoming earnings announcements from major corporations scheduled for this week. Starting from Samsung Biologics on the 23rd, SK hynix, Hyundai Motor, KB Financial, HD Hyundai Heavy Industries, and Samsung Heavy Industries will announce their second-quarter earnings on the 24th, followed by LG Energy Solution and Doosan Enerbility on the 25th.
In the New York stock market, earnings announcements for major big tech companies such as Tesla and Alphabet from the leading M7 are scheduled for the 23rd and for Intel on the 24th. As the U.S. stock market continues its rally, hitting all-time highs, there is a keen interest in how these earnings announcements will impact the market's upward trend.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Whether we can secure profit momentum through the second-quarter earnings will determine whether the major countries' stock markets can break through their upper limits." He added that "the earnings events of major domestic and foreign corporations with high tariff exposure, such as Alphabet, Tesla, and Hyundai Motor, along with existing leaders like SK hynix, Hyundai Rotem, and KB Financial, which have seen increased stock price volatility recently, will exert a significant influence on the markets throughout the week."
On that day, the KOSDAQ index closed at 821.69, rising 1.02 points (0.12%) compared to the previous trading day. In the KOSDAQ market, individual and institutional investors participated in buying, with respective volumes of 20 billion won and 10 billion won. Foreign investors showed a selling advantage of 28 billion won.
The top stocks by market capitalization in the KOSDAQ exhibited a mixed performance. Ecopro BM, PEMTRON, Ecopro, and PharmaResearch closed higher. In contrast, Alteogen and HLB fell by 1.43% and 4.91%, respectively, dragging down the index.
Lee Jae-won, a researcher at Shinhan Investment Corporation, commented, "With no significant fluctuations likely, a rotation market driven by corporate earnings forecasts is expected," adding that "policies, tariffs, and other issues are taking a breather. It's necessary to pay attention to sectors expected to rebound in performance."
As of the market closing time that day, the exchange rate of the won against the U.S. dollar in the Seoul foreign exchange market recorded 1388.20, down 3.9 won from the previous trading day.