On the 24th, the KOSPI index repeatedly fluctuated in a flat range, moving around the 6,480 level. As tensions between the United States and Iran over the Strait of Hormuz rise again, profit-taking appears to be emerging after the KOSPI climbed sharply from 6,200 points to 6,500 points this week.
By contrast, the KOSDAQ index is up around 1.7%. While biotech is strong, equipment stocks are also rising.
As of 11:20 a.m., the KOSPI index was moving near the 6,450 level, slightly lower from the previous trading day. The index opened higher at 6,496.10 and broke through 6,500 points early in the session, but turned lower on foreign selling. However, the decline is not large. Even near a record high, with individual and institutional funds flowing in, it is repeatedly fluctuating in a flat range.
In the Korea Exchange main board, individuals and institutions are buying 398.9 billion won and 583.9 billion won, respectively, lifting the index. Among institutions where exchange-traded fund (ETF) flows are counted, financial investment is a net buyer of 434.8 billion won and pension funds 186.4 billion won. Foreigners are net sellers of 955.8 billion won.
Shares in the electrical equipment sector are strong on expectations of rising demand for artificial intelligence (AI). HD Hyundai Electric is surging 10%, while LS Electric is also up 5.07%. Buying appears to be gathering in electrical equipment names on the back of increased demand for U.S. AI data center expansion and power infrastructure upgrades.
Although tensions between the United States and Iran are escalating, investor sentiment does not appear significantly dampened. U.S. President Donald Trump wrote on Truth Social, a social media platform (SNS), "I have ordered the U.S. Navy to fire upon and kill any vessel, no matter how small, that lays mines in the strait."
At the same time, the KOSDAQ index was trading at 1,194.67 points, up 1.73% from the previous trading day. In the KOSDAQ market, foreigners and institutions are net buying 501.8 billion won and 44.9 billion won, respectively, while individuals are net selling 537.2 billion won.
Top KOSDAQ market-cap stocks are mixed. EcoPro, EcoPro BM, Kolon TissueGene and Voronoi are falling, while Alteogen, Sam Chun Dang Pharm, ABL Bio and LigaChem Biosciences are rising.