Double purchase by foreigners and institutions… KOSPI recovers to 2680 level [마감 시황]

2024-03-08 07:50:23

KOSPI closed 1.24% higher

Net purchases by foreigners of KRW 181.7 billion and institutions of KRW 698.6 billion

SK Hynix reports high on the back of the U.S. semiconductor rally

KOSDAQ also purchased jointly by foreigners and institutions

KOSPI and KOSDAQ both closed up 1% on the 8th. The dealing room at the main branch of Hana Bank in Jung-gu, Seoul after the market closed that day. yunhap news

KOSPI closed up 1%, regaining the 2680 mark thanks to simultaneous purchases by foreigners and institutions. The semiconductor stock rally in the U.S. stock market is also having an impact in Korea. SK Hynix (000660) financial analysischart areaView DetailsRelated stocks, including , rose.

According to the Korea Exchange on the 8th, the KOSPI index closed at 2680.35, up 32.73 points (1.24%) from the previous trading day. It rose to the 2688 level during the day, but before the market closed, it reduced the increase and finished at the 2670 level.

Foreigners and institutions made double purchases, raising the index. Foreigners net bought 181.7 billion won, and institutions net bought 698.6 billion won. Individuals realized profits by net selling 906.5 billion won.

By industry, the pharmaceutical index rose the most, ending trading at 14101.5, up 514.07 points (3.78%). HLB(028300) financial analysischart areaView DetailsThe rise in pharmaceuticals was driven by the fact that a new drug for liver cancer was listed on the prescription expected list of a U.S. prescription drug benefit management company (PBM) and the drug ended trading at 98,000 won, up 22.65% from the previous trading day. Machinery (1.99%), medical precision (1.77%), and electrical/electronics (1.73%) also showed an upward trend. Electricity and gas (-0.91%) and insurance (-0.22%) industries fell.

The stocks with the highest market capitalization of KOSPI all turned on the red light. Samsung Electronics (005930) financial analysischart areaView Detailsand SK Hynix finished trading at 73,200 won and 171,800 won, up 1.52% and 4.24%, respectively. LG Energy Solution (373220) financial analysischart areaView Details(0.75%), Samsung BioLogics (207940) financial analysischart areaView Details(5.28%), Hyundai Motors (005380) financial analysischart areaView Details(1.20%), Kia (000270) financial analysischart areaView Details(1.82%), Celltrion (068270) financial analysischart areaView Details(1.81%), POSCO Holdings (005490) financial analysischart areaView DetailsAll stocks in the top 10, including (0.34%), rose.

On the 7th (local time), U.S. Federal Reserve Chairman Jerome Powell hinted at the possibility of an interest rate cut within the year, and the New York stock market rose simultaneously, which also acted as positive news for the domestic stock market. Chairman Powell appeared at a federal Senate hearing on this day and said, “We are waiting for more certainty that inflation is continuing to move toward 2%,” and “Once we have confidence, it will be appropriate to begin to ease the intensity of tightening.” As a result, the outlook for an interest rate cut in June has gained weight.

In the New York stock market, the Dow rose 0.34%, the S&P 500 rose 1.03%, and the Nasdaq rose 1.51%, and the S&P 500 and Nasdaq in particular broke record highs. In particular, Nvidia, a leader in artificial intelligence (AI) semiconductors, soared around 4%, and related stocks such as Microsoft (MS), AMD, Broadcom, and Intel also rose at the same time. Due to this influence, SK Hynix hit a 52-week high. Reno Industrial (058470) financial analysischart areaView DetailsSemiconductor equipment stocks also showed strength, including (5.12%).

KOSDAQ ended trading at 873.18 points, up 9.81 points (1.41%) from the previous trading day. KOSPI started rising on this day, then increased its rise and recovered to the 870 level.

Foreigners and institutions also began purchasing together in the KOSDAQ market. Foreigners net bought 287.6 billion won, and institutions net bought 4.2 billion won. Individuals sold for 296.3 billion won.

Top stocks in KOSDAQ market capitalization showed mixed trends. Ecopro BM (247540) financial analysischart areaView Details(-1.40%), Eco Pro (086520) financial analysischart areaView Details(-1.50%), HPSP(403870) financial analysischart areaView Details(-3.69%), Enchem (348370) financial analysischart areaView Details(-7.82%), etc. fell, but HLB (22.65%), Celltrion Pharmaceutical (068760) financial analysischart areaView Details(1.61%), Rainbow Robotics (277810) financial analysischart areaView Details(3.06%) etc. rose.

Lee Jae-won, a researcher at Shinhan Investment & Securities, said, “The KOSPI showed an upward trend centered on stocks with top market capitalization.” “In keeping with the rally in the reported prices of semiconductors in the U.S., SK Hynix broke its new high, and the healthcare industry, including Samsung BioLogics, also expanded its rise. “I did it,” he said.

Kim Ji-won, a researcher at KB Securities, analyzed, “As the U.S. Senate submitted a biosecurity law restricting transactions with Chinese biotech companies to Congress, the potential for domestic companies to benefit from it was highlighted, highlighting the strength of the healthcare industry.”

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