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South Korea's Stock Market Hits 3-Year High Amid Improved Investor Sentiment

Strategic Insights

— 1 min read

The benchmark Korea Composite Stock Price Index (KOSPI) had added 20.58 points, or 0.72 percent, to 2,892.43 as of 11:20 a.m. on Wednesday, breaching the 2,900-point threshold for the first time since January 2022. The surge was driven by foreign investors' continued buying spree and hopes for easing global trade uncertainties. Foreign investors purchased 66.3 billion won (US$48.4 million) of local shares for the sixth consecutive session, while institutions bought 58.2 billion won and retail investors sold 110.7 billion won for profit-taking.

Key Takeaways:

  • The KOSPI increased by 20.58 points, or 0.72 percent, to 2,892.43 as of 11:20 a.m. on Wednesday, exceeding the 2,900-point threshold for the first time since January 2022.
  • Foreign investors purchased 66.3 billion won (US$48.4 million) of local shares for the sixth consecutive session, accounting for 13.8 percent of the total trading volume.
  • Institutions bought 58.2 billion won, while retail investors sold 110.7 billion won for profit-taking.
  • Investors' risk appetite improved on the back of expectations for a possible trade deal between the United States and China.
  • Samsung Electronics increased 0.76 percent, SK hynix jumped 3.9 percent, Hyundai Motor went up 1.52 percent, and Kia climbed 1.69 percent.
  • Doosan Enerbility soared 5.62 percent, Kakao advanced 2 percent, and Samsung Life Insurance surged 4.52 percent.

Statistics:

  • KOSPI increase: 20.58 points, or 0.72 percent
  • Total trading volume: 473.67 billion won (US$352.5 million)
  • Foreign investors' purchasing volume: 66.3 billion won (US$48.4 million)
  • Institutions' buying volume: 58.2 billion won
  • Retail investors' selling volume: 110.7 billion won
  • US dollar exchange rate: 1,370.4 won against the greenback at 11:20 a.m.

Sources:

  • "KOSPI breaches 2,900 points for first time since January 2022". Yonhap News Agency.
  • "U.S. Commerce Secretary says China trade talks 'went really, really well'". Bloomberg.
  • "South Korea's new President Lee Jae-myung promises to stabilize economy". Reuters.

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