The KOSPI index again set a record high on a closing basis. On the 8th, the KOSPI ended the session at 7,498.00, up 7.95 points (0.11%) from the previous day. Foreign investors were net sellers of more than 6.2 trillion won, but individuals and institutions absorbed the selling with net buying, sending the market higher by the close.
The KOSPI index opened the session at 7,353.94, down 136.11 points (1.82%) from the previous day. With heavy selling by foreign investors continuing, it was pushed down to as low as 7,318.96 in early trading, but it pared losses and turned higher late in the session. As on the previous day, it also briefly crossed the 7,510 level during the session.
The New York stock market pulled back as a Middle East war agreement between the United States and Iran slowed the previous day, which appeared to affect the early session of Korea's market on this day. In the afternoon, buying strengthened again, led by large-cap stocks by market capitalization, and the market successfully turned higher.
On the Korea Exchange's main board, foreign investors were net sellers of more than 6.2 trillion won. In contrast, individuals and institutions were net buyers of more than 4.8 trillion won and 1.3 trillion won, respectively.
Among the top stocks by market capitalization, Hyundai Motor Group shares were strong. A video of the mass-production Atlas from Boston Dynamics was released the previous day, and news spread that a Nasdaq listing push would be decided next month, lifting autos and robot-related stocks.
Hyundai Motor rose 7.17% from the prior day, and Kia finished up 4.38%. Hyundai AutoEver, Hyundai Glovis and Hyundai Mobis also closed higher.
Samsung Electronics closed down 1.1% on the day, while SK hynix finished up 1.93%.
Kang Jin-hyeok, an analyst at Shinhan Investment & Securities, said, "On the KOSPI, Hyundai Motor Group is strong despite uncertainty over a Middle East deal and foreign selling in AI infrastructure," adding, "KOSDAQ is outperforming the KOSPI as large caps rise on positive news for biotech and robots."
The KOSDAQ index also finished trading at 1,207.72, up 8.54 points (0.71%) from the prior day. After starting the session at 1,199.47, up 0.29 points (0.02%) from the prior day in early trading, the KOSDAQ at one point in the morning slipped to 1,194.56 and turned lower. Buying then strengthened again, and it closed higher for the first time in three sessions.
Foreign investors were net buyers of more than 400 billion won on the KOSDAQ market on the day. Institutions were also net buyers of more than 80 billion won, while individuals sold more than 470 billion won.