The KOSPI index on the 1st broke through the 8,800 level on the back of institutional buying. The KOSPI index successively crossed the 8,500, 8,600, 8,700, and 8,800 levels during the morning session. As the market surged, the Korea Exchange (KRX) triggered a buy sidecar (temporary suspension of program-trading buy orders).
As of 11:28 a.m., the KOSPI index was up 4.34% (367.85 points) from the previous day at 8,844 points. After opening at 8,485.67, up 9.52 points (0.11%) that day, the KOSPI index immediately broke through 8,500, then successively set new marks at 8,600, 8,700, and 8,800.
As the index spiked, the exchange triggered a buy sidecar on the main board around 11:30 a.m. It was the 11th buy sidecar this year.
The main board is being led by institutions. While individuals are net sellers of 310.3 billion won and foreigners are net sellers of 1.8344 trillion won, institutions alone are net buyers of 2.2015 trillion won.
Large-cap stocks on the main board are mostly rising. In particular, Samsung Electronics and Samsung Electronics preferred shares are up in the 9% and 11% ranges, respectively. With SK hynix, SK Square, Hyundai Motor, Samsung Life Insurance, Samsung C&T, and HD Hyundai Heavy Industries all gaining, only Samsung Electro-Mechanics and LG Energy Solution are falling.
At the same time, the KOSDAQ index was down 2.27% (24.36 points) from the previous day at 1,050.44.
In the KOSDAQ market, while foreigners are net buyers of 375.0 billion won, individuals are net sellers of 313.9 billion won and institutions are net sellers of 51.0 billion won.
Large-cap stocks on the KOSDAQ market are mostly lower. While EcoPro BM, Alteogen, EcoPro, Jusung Engineering, Kolon TissueGene, Sam Chun Dang Pharm, and Peptron are falling, only Rainbow Robotics and Peptron are rising.