With foreign and institutional investors showing a buying advantage, the KOSPI and KOSDAQ indices continued to rise during the morning trading on the 22nd.
The KOSPI index stood at 3171.79 as of 11:08 a.m., up 30.04 points (0.96%) from the previous day. In the KOSPI market, foreign and institutional investors are showing buying advantages of 190.9 billion won and 116.3 billion won, respectively, pushing the index higher. Individuals are net selling 345.8 billion won.
At the same time, the KOSDAQ index showed a decrease of 5.44 points (0.7%) to 782.68. In the KOSDAQ market, foreign and institutional investors are net buying 49 billion won and 5.2 billion won, respectively. Individuals are in a selling position with 42.5 billion won.
During the trading hours, the most purchased stocks by foreigners include Samsung Heavy Industries, Samsung Electronics, and Doosan Fuel Cell. Institutions are focusing on buying Daewoo E&C, Samsung Heavy Industries, Doosan Enerbility, and Hyundai E&C. This appears to be in response to expectations of cooperation ahead of the Korea-U.S. summit.
When examining by sector, the beneficiary sectors known as "construction, transportation, and resources" are showing strength side by side. The electric equipment and wire sectors are also seeing significant gains as U.S. President Donald Trump emphasizes strengthening power infrastructure.
However, as of this time, the transaction amounts in the KOSPI and KOSDAQ markets are 42.4 trillion won and 23.5 trillion won, respectively, which are not significantly high compared to last month.
That night, Jerome Powell, the chairman of the U.S. Federal Reserve, is set to speak at the Jackson Hole meeting, which is interpreted as heightening caution. Prior to Powell, Federal Reserve Bank presidents have expressed skepticism about the conditions for lowering interest rates.