The KOSPI, which opened lower, turned higher intraday on the 5th. As foreign and institutional funds flowed in, the index recovered the 4,060 level.
As of 2 p.m. that day, the KOSPI index was trading at the 4,060 level, up 0.7% to 0.8% from the previous session. The KOSPI index opened slightly lower at 4,023 points and extended losses to the 4,000 level early in the session, but turned higher intraday.
Foreign and institutional investors are leading the index higher. In the afternoon, foreigners and institutions were net buyers of 420.2 billion won and 669.5 billion won, respectively. At the same time, individuals alone were net sellers of 1.0471 trillion won.
Large-cap semiconductor stocks are showing mixed moves. Samsung Electronics is up nearly 2%, but SK hynix is down more than 1%. Hyundai Motor is showing a standout rally that day. With its U.S. market share expanding and its software competitiveness coming to the fore, the stock is surging.
By contrast, the KOSDAQ index opened higher but reversed lower and is moving around the 920 level. The KOSDAQ index opened slightly higher at 930.75 that day, but turned lower intraday and even fell below the 920 level.
Alteogen, the No. 1 KOSDAQ stock by market cap, is plunging, which is seen as weighing on investor sentiment. News broke that Altaeogen's partner Merck in the United States (MSD) received a preliminary injunction from a German court banning sales of "Keytruda SC," and Alteogen shares are down more than 10%.
In the KOSDAQ market, foreign and institutional investors are selling off. Foreigners and institutions are net sellers of 227.1 billion won and 159.1 billion won, respectively. Lee Jae-won, a researcher at Shinhan Investment & Securities, said, "On the back of the negative news for Alteogen, sentiment toward bio names has deteriorated, and the KOSDAQ is showing weakness led by large caps."