On the 16th, the KOSPI index rose more than 1% despite pressure from high oil prices and a rising won-dollar exchange rate. Foreign investors were net sellers on the main bourse, but individuals propped up the index with net buying.
International oil prices climbed to around $100 per barrel, and the won-dollar exchange rate during the week's session topped 1,500 won at one point. It was the first time since March 2009 during the global financial crisis.
The KOSPI index closed at 5,549.85, up 62.61 points (1.14%) from the previous session. After a higher open, the KOSPI swung lower in the morning and fluctuated, but turned higher as retail funds flowed in.
Individuals were net buyers of stocks worth 816.2 billion won on the main board. Institutions also bought a net 90.3 billion won, while only foreigners sold, offloading 850.8 billion won worth of stocks.
Notably, foreigners maintained a "sell" stance in the futures market for a third straight session. On the day, foreign investors were net sellers of 6,680 contracts of KOSPI200 futures.
Fortunately, SK hynix, a KOSPI large cap, surged more than 7%, and Samsung Electronics rose 2.83%, lifting the KOSPI index. SK Square and KB Financial also gained 5.24% and 0.27%, respectively.
However, other top market-cap stocks were weak, including Hyundai Motor (-2.13%), HD Hyundai Heavy Industries (-2.18%), Samsung Biologics (-1.51%), Kia (-1.40%), LG Energy Solution (-0.81%), and Hanwha Aerospace (-0.81%).
The KOSDAQ index finished at 1,138.29, down 14.67 points (1.27%) from the previous session. It showed a brief early gain, but ultimately closed lower as foreigners and institutions sold a net 500.5 billion won and 171.6 billion won in stocks, respectively. Only individuals were net buyers, at 711.4 billion won.
Most top KOSDAQ stocks flashed red. Except for Peptron (6.21%) and Kolon TissueGene (0.19%), Sam Chun Dang Pharm (-5.44%), Rainbow Robotics (-4.13%), EcoPro (-3.06%), EcoPro BM (-2.04%), Alteogen (-1.80%), LEENO Industrial (-1.32%), and ABL Bio (-0.53%) fell.
Kang Jin-hyeok, an analyst at Shinhan Investment & Securities, said, "With foreigners selling in both cash equities and futures, large-cap KOSDAQ names underperformed," adding, "Risk aversion on the back of escalating Middle East tensions is particularly pronounced in the KOSDAQ market."