The KOSPI index has turned higher intraday and is being transacted around the 5,340 level. The KOSPI index, which opened lower, gave up the 5,300 level on foreign selling, then turned upward as institutions went on "buy" orders.
The KOSDAQ index is being transacted around the 1,120 level as foreigners are net buyers and it recoups early losses.
As of 11:25 a.m., the KOSPI index is being transacted at 5,347.16 points, up 45.47 points (0.86%) from the previous trading day. The index opened slightly lower at 5,293.75 from the previous trading day, but turned higher on intraday institutional buying and crossed the 5,340 level.
In the KOSPI market, institutions alone are net buyers. Individuals sold 357.5 billion won, and foreigners sold 253.3 billion won. Among institutional channels, brokerages, which reflect ETF funds, are net buying 307.8 billion won, the National Pension Service 120 billion won, and investment trusts 53.2 billion won.
In the KOSPI market, Hyundai Motor and Kia are rising sharply. This is seen as being due to expectations that the initial public offering (IPO) of Boston Dynamics, in which Hyundai Motor Group holds equity, will accelerate as the company's head has been replaced.
On the 10th (local time), Boston Dynamics said research-focused Chief Executive Officer Robert Playter would retire and Chief Financial Officer Amanda McMaster would serve as interim CEO. The market interpreted this as a signal that it is shifting from a research-centered organization to a business company.
Financial stocks, which have been on a record-earnings rally, are also strong. KB Financial (4.18%), Hana Financial Group (3.27%), Woori Financial Group (5.06%), and Meritz Financial Group (7.7%) are gaining. However, Mirae Asset Securities (0.87%), which was the subject of a brokerage report saying shareholder returns need to be strengthened on the day, is weak.
At the same time, the KOSDAQ index is being transacted at 1,122.19, up 6.99 points (0.63%) from the previous trading day. The index opened at 1,120.62 and turned lower on intraday individual selling, but turned higher as foreigners went on "buy" orders worth 74.6 billion won.
In the KOSDAQ market, all top-cap stocks except EcoPro are rising. AprilBio hit the upper price limit on news that phase 2 clinical trials for an atopic dermatitis treatment succeeded, and investor sentiment for biotech improved as Samsung Epis Holdings was added to the MSCI Korea Index. Alteogen (2.51%), Sam Chun Dang Pharm (1.36%), and ABL Bio (2.69%) are also gaining.