The KOSPI closed above the 5,200 level, setting another record high on a closing basis. The KOSDAQ also finished above 1,160, extending the "CheonSDAQ (KOSDAQ at 1,000)" trend for a fourth straight session.
On the 29th, the KOSPI rose 50.44 points (0.98%) from the previous session to end at 5,221.25. The KOSPI opened at 5,243.42, up 72.61 points (1.40%) in early trade, but turned lower at one point as profit-taking emerged after major semiconductor corporations released earnings. It then regained upward momentum and set an all-time record high on a closing basis.
In the main board, individuals were net buyers to the tune of 1.44 trillion won. Institutional investors also net bought 135 billion won. Of that, brokerages accounted for 154 billion won and the National Pension Service 140 billion won. Foreign investors moved to "sell," unloading about 1.6 trillion won.
Volatility widened after profit-taking followed the earnings releases of Samsung Electronics and SK hynix. The two companies surged in early trade after announcing record results for the fourth quarter of last year, but shares later slipped as the news was viewed as a "sell on" catalyst. In the end, Samsung Electronics closed down 1.05%, while SK hynix managed to reverse and finish up 2.38%.
Lee Kyung-min, a researcher at Daishin Securities, said, "Around the earnings releases of Samsung Electronics and SK hynix, the Highlight of the earnings season, 'sell-on (share price decline amid good news)' supply emerged and prices swung," adding, "Funds sold from large-cap semiconductor names are repeatedly rotating into non-semiconductor sectors and the KOSDAQ."
Six of the top 10 KOSPI market-cap names rose. Hyundai Motor (7.21%), SK Square (5.36%), Hanwha Aerospace (0.93%), and Kia (3.47%) gained. By contrast, LG Energy Solution (-3.36%) and Samsung Biologics (-0.84%) failed to find traction.
The KOSDAQ rose 30.89 points (2.73%) from the previous session to close at 1,164.41. The KOSDAQ opened up 19.91 points (1.76%) at 1,153.43, fluctuated through the morning, and held gains in the afternoon. As of today, the KOSDAQ is up 25.82% this year, outpacing the KOSPI's year-to-date rise of 23.9%.
On the KOSDAQ, foreigners and institutions were net buyers of about 230 billion won and close to 2 trillion won, respectively. However, most of the institutional net buying was tallied as brokerage house flows reflecting individuals' exchange-traded fund (ETF) transactions. Individuals net sold about 2 trillion won.
Eight of the top 10 KOSDAQ market-cap names rose. EcoPro BM (7.24%) and EcoPro (2.02%) jumped, reclaiming the No. 1 and No. 2 spots by market value. As Samsung Electronics signaled its commitment to the Humanoid Robot industry in its earnings release, buying also flowed into Rainbow Robotics (9.35%).
Elsewhere, buying clustered in Sam Chun Dang Pharm (10.35%) and Kolon TissueGene (7.30%). In contrast, Alteogen fell 1.15%, surrendering the top market-cap spot.