The KOSPI is continuing its increase during the day, supported by institutional buying on the 21st.
As of 11:00 a.m. that day, the KOSPI index is trading at 3159.25, up 29.16 points (0.93%) from the previous session. The index started at 3140.71, up 10.62 points (0.34%) from the previous session, and has increased its gains.
Institutions are leading the index increase with a net purchase of 185.3 billion won. Individuals, who started as buyers, have turned to sellers with a net sell of 143.3 billion won. Foreigners are also net selling 63.4 billion won.
Despite concerns about a bubble in the artificial intelligence (AI) industry and weakened expectations for U.S. interest rate cuts, the KOSPI is attempting to rebound, supported by bargain hunting.
The previous day, the KOSPI index closed down for three consecutive trading days, recording 3130.09 points. During the day, it fell to around 3070 and even dipped below 3100. This was the first time in over 40 days since the 8th of last month.
Byun Joon-ho, a researcher at IBK Securities, said in a report that "the stock market is expected to pass a short-term bottom later this week or early to mid next week, indicating a bargain hunting phase."
Most of the top stocks by market capitalization in the KOSPI are showing gains, especially rebounds centered on this year's leading stocks known as "Jo Bang Won" (shipbuilding, defense, and nuclear).
Specifically, the stock prices of Hanwha Aerospace, Doosan Enerbility, Hanwha Ocean, and Hyundai Rotem are all strong on that day, with Doosan Enerbility's stock price rising by more than 8%.
Samsung Electronics, the largest company by market cap, is also showing strength. Reports that Samsung's HBM4 sample passed NVIDIA's performance tests have positively influenced the stock, despite weakness in U.S. technology stocks. SK hynix is experiencing a downturn.
At the same time, the KOSDAQ index recorded 782.75, up 5.14 points (0.66%) from the previous session. It started at 780.32, up 2.71 points (0.35%) from the previous session, showing slight gains. Individuals are net buying 145 billion won.
The stock prices of most top stocks in the KOSDAQ market are also rising. In particular, 8 out of the top 10 stocks are showing strength, with Peptron's stock price increasing by over 4%.