On the 19th, the KOSPI index is giving up gains amid foreign selling. Foreign investors have been net sellers of the KOSPI index on the Korea Exchange for five straight sessions.
In contrast, KOSDAQ is rising ahead of the Financial Services Commission (FSC) announcement of measures to boost KOSDAQ later in the day. Buying by retail investors and institutions is lifting the index.
As of 11:35 a.m., the KOSDAQ index was at 4,014.76, up 20.25 points (0.51%) from the previous session. Starting the day at 4,055.78, the KOSPI index gave back gains on foreign selling and fell below the 4,000 level. It has since moved sideways between 4,010 and 4,020 on buying by retail investors and institutions.
Foreign selling is capping gains on the KOSPI index. Foreign investors alone are net sellers of 225.8 billion won. Retail investors and institutions are net buyers of 4.7 billion won and 219 billion won, respectively, lifting the index.
Among large-cap stocks, Hanwha Aerospace is up more than 2%. Investor sentiment appears to have flowed in after the Donald Trump administration announced a space policy directive targeting a moon landing in 2028. News of a potential listing of SpaceX is also lifting shares in the space sector.
Boosted by Micron's "earnings surprise," SK hynix is up more than 2%. Samsung Electronics, however, is slightly lower.
At the same time, KOSDAQ was at 914.15, up 12.82 points (1.42%) from the previous session. The KOSDAQ index started at 909.70 and briefly fell below 900 early on, but ahead of the Financial Services Commission (FSC) announcement of measures to revitalize KOSDAQ, investor sentiment piled into major growth names such as biotech and robotics, widening intraday gains.
As sentiment for biotech shares improved, Alteogen climbed more than 4%, reclaiming the 450,000-won level at the close for the first time in six sessions. ABL Bio, LigaChem Biosciences, and Sam Chun Dang Pharm are also strong, up 4% to 5%.
Meanwhile, entertainment stocks are also rising on hopes for the lifting of the ban on Korean cultural content. HYBE (3.27%), JYP Entertainment (1.29%), and SME (0.51%) are gaining. Earlier, the Korea Chamber of Commerce and Industry led an economic delegation of 200 to China for the first time in seven years, according to reports.
Meanwhile, at noon, the Bank of Japan (BOJ) is scheduled to announce a rate hike. If the BOJ signals a hike, a stronger yen could prompt some foreign funds to move to Japan, weighing on supply and demand in the domestic stock market.