On the 16th, the KOSPI index topped the 6,200 level for the first time since the Middle East crisis on expectations that cease-fire talks between the United States and Iran will resume. Strength in large-cap stocks by market capitalization, including semiconductors, lifted the KOSPI, and the KOSDAQ index also closed up by nearly 1%.
The KOSPI closed at 6,226.05, up 134.66 points (2.21%) from the previous trading day. It was the first time in 33 sessions that the KOSPI closed above 6,200 since Feb. 27 (6,244.13).
What drove the day's gains was demand from financial investment (institutions), which captures exchange-traded fund (ETF) flows. In the main board, financial investors were net buyers by 722.8 billion won. Foreign investors also net bought 540.2 billion won for a third straight session. Only individuals dumped shares, selling 1.652 trillion won worth.
Most of the main-board listings, 657 stocks, finished higher, and two names—Moorim P&P and Automobile & PCB—hit the upper limit (the top of the daily price band). Stocks that were flat or lower totaled 41 and 207, respectively.
In particular, most large-cap stocks by market value advanced. Doosan Enerbility surged 6% and Hyundai Motor jumped more than 5%, while Kia (4.22%), SK Square (3.76%), Samsung Electronics (3.08%), LG Energy Solution (1.96%), SK hynix (1.67%), Samsung Biologics (0.87%) and Hanwha Aerospace (0.66%) all rose.
The KOSDAQ closed at 1,162.97, up 10.54 points (0.91%) from the previous trading day. On the KOSDAQ, 18 stocks hit the upper limit and 1,145 rose, while a total of 546 were flat or down.
In the KOSDAQ market, individuals alone bought 357.9 billion won worth, lifting the index. Foreign investors and institutions were net sellers of 250.6 billion won and 64.2 billion won, respectively.
Most top KOSDAQ market-cap stocks also flashed red. Kolon TissueGene and LigaChem Biosciences rose 3.72% and 2.59%, respectively, and LEENO Industrial (1.95%), EcoPro BM (1.23%) and EcoPro (0.88%) gained. By contrast, Sam Chun Dang Pharm (-9.01%), HLB (-6.60%) and Alteogen (-0.94%) closed lower.
Kang Jin-hyeok, an analyst at Shinhan Investment & Securities, said, "Ahead of earnings season, Hyundai Motor group stocks showed broad strength on expectations of a re-rating of physical artificial intelligence (AI) value," and noted, "In the KOSDAQ market, despite the Sam Chun Dang Pharm overhang, sectors such as robots, nuclear power and quantum security rose sharply and supported the index."