The KOSPI index was higher in early trading on the 23rd. The move is seen as reflecting gains in the three major U.S. indexes overnight on a Santa rally. The KOSPI started by breaking above the 4,120 level.
As of 9:05 a.m., the KOSPI index was up 0.21% (8.62 points) from the previous session at 4,114.55. The KOSPI opened at 4,127.40, up 21.47 points (0.52%) from the previous day.
Individuals are leading the main board. Individuals were net buyers of 14 billion won, while foreigners and institutions were net sellers of 8.5 billion won and 700 million won, respectively.
Large-cap stocks on the main board are mixed. Samsung Electronics, SK hynix, Samsung Biologics, HD Hyundai Heavy Industries, and Doosan Enerbility are rising, while LG Energy Solution, KB Financial Group, and Kia are falling.
At the same time, the KOSDAQ index was up 0.39 point (0.04%) from the previous day at 929.53. The KOSDAQ opened at 932.48, up 3.34 points (0.36%) from the previous day.
Individuals are also leading the KOSDAQ market. Individuals were net buyers of 78.4 billion won, while foreigners and institutions were dumping 43.8 billion won and 6.5 billion won, respectively.
Top KOSDAQ market-cap stocks are also mixed. Alteogen, ABL Bio, Rainbow Robotics, and HLB are rising, but EcoPro, LigaChem Biosciences, Kolon TissueGene, Peptron, and Sam Chun Dang Pharm are falling.
The three major U.S. indexes closed higher overnight. With year-end holidays approaching, buying focused on tech stocks flowed in, which is analyzed as a Santa rally effect.
The Dow Jones Industrial Average finished 227.79 points (0.47%) higher at 48,362.68. The Standard & Poor's (S&P) 500 rose 43.99 points (0.64%) to 6,878.49, and the Nasdaq composite added 121.21 points (0.52%) to end at 23,428.83.
As the year-end holiday period began, trading was relatively light. For the S&P 500, trading volume was about half of that on the 19th. In this environment, bargain hunting continued on expectations for a Santa rally.