Korean stocks closed in positive territory on the 22nd after a volatile trading session, with the KOSPI index rising 49.75 points (0.74%) to 6797.70, despite surrendering most intraday gains following aggressive institutional selling after 2 PM. The benchmark index had opened 304.14 points (4.51%) higher at 7052.09 and briefly recovered the 7000-level during morning trading, driven by optimism over US semiconductor investment. The profit-taking occurred as institutional investors expanded their selling after maintaining modest sell positions through early afternoon, with most institutional selling concentrated in ETF (exchange-traded fund) transactions totaling 966.4 billion won. Foreign investors extended their buying streak to three consecutive trading days, purchasing 2.6311 trillion won worth of Korean stocks.
KOSPI Surrenders Morning Gains on Institutional Selling
The KOSPI opened at 7052.09, triggering a buy-side program trading halt at 9:06 AM. The index reached an intraday high of 7166.00 before institutional investors began aggressive selling after 2 PM. Institutional investors sold 1.3868 trillion won worth of stocks, with 966.4 billion won in selling occurring through financial investment accounts representing ETF transactions. Individual investors sold 1.2278 trillion won during the session.
Foreign Investors Extend Three-Day Buying Streak
Foreign investors purchased 2.6311 trillion won worth of Korean stocks, marking their third consecutive day of net buying. The sustained foreign buying provided support to the market despite domestic institutional selling pressure.
Samsung Electronics and SK Hynix Retreat from Intraday Highs
SK Hynix briefly recovered to 2 million won during trading, supported by strength in US memory chip makers including Micron and SanDisk. The stock retreated to flat territory as individual and institutional selling increased, while foreign net buying decreased from over 1.6 trillion won to 1.2565 trillion won by market close. Samsung Electronics reached 276,000 won intraday but closed flat after surrendering its gains.
Among large-cap stocks, Hyundai Mobis rose over 6%, Hyundai Motor gained over 4%, and Samsung C&T advanced over 3%. HD Hyundai Heavy Industries and Samsung Electro-Mechanics rose over 2%, while Kia, Samsung Life Insurance, and LG Energy Solution gained over 1%. KB Financial and Samsung Electronics closed flat, while Shinhan Financial Group and SK Hynix finished slightly lower. Samsung Biologics and SK Square declined over 1%.
KOSDAQ Turns Negative in Late Trading
The KOSDAQ index closed at 751.09, down 2.25 points (0.30%) from the previous session. The index opened 19.07 points (2.53%) higher at 772.41 and reached 789.23 during trading before surrendering gains in afternoon trading and turning negative near market close. Individual investors bought 263.8 billion won, while foreign investors sold 84.2 billion won and institutional investors sold 191.4 billion won.
Rainbow Robotics surged over 16% following news of Samsung Electronics establishing a dedicated robotics organization. Lino Industrial and Ecopro rose over 2%, while Ecopro BM gained over 1%. Alteogen fell over 1%, EO Technics declined over 2%, Stemco and Wonik IPS dropped over 3%, Jusung Engineering fell over 4%, HLB declined over 6%, PSK dropped over 7%, Samchundang Pharm fell over 8%, and Phadu declined over 9%.
Won Weakens Against Dollar
The won/dollar exchange rate closed at 1480.1 won, up 6.7 won from the previous trading day in the Seoul foreign exchange market.
FAQ
What caused Korean stocks to surrender their morning gains on the 22nd?
Institutional investors aggressively expanded their selling after 2 PM, with most selling concentrated in ETF transactions totaling 966.4 billion won through financial investment accounts. This selling pressure caused the KOSPI to surrender most of its morning gains despite opening over 4% higher.
How did foreign investors trade Korean stocks during the session?
Foreign investors purchased 2.6311 trillion won worth of Korean stocks, marking their third consecutive day of net buying. This sustained foreign buying provided market support despite domestic institutional selling.
What happened to Samsung Electronics and SK Hynix during trading?
SK Hynix briefly recovered to 2 million won during trading but retreated to flat territory as selling increased. Samsung Electronics reached 276,000 won intraday but closed flat after surrendering its gains. Both stocks gave back their intraday advances by market close.
