KOSPI Attempts to Stabilize Above 8300 as Samsung Electronics Surges 7%

On June 24, the dealing room board at Hana Bank's headquarters in Jung-gu, Seoul shows the exchange rate, KOSPI, and KOSDAQ indices. On this day, the KOSPI opened at 8,356.79, up 152.95 points (1.86%) from the previous trading day, while the KOSDAQ index opened at 905.13, up 13.61 points (1.53%). The won-dollar exchange rate opened at 1,534.9 won, down 4.2 won from the previous day. Photo: Yonhap News

The KOSPI index rose slightly on June 24, recovering from a sharp decline the previous day and trading above the 8300 mark.

According to the Korea Exchange, as of 1:55 PM, the KOSPI was trading at 8,339.05, up 124.45 points (1.52%) from the previous trading day. The index initially rose by 125.95 points (1.86%) and even increased by as much as 373.68 points (4.55%) at one point.

At the same time, individual and institutional investors were net buyers in the securities market, purchasing 2.02 trillion won and 2.05 trillion won, respectively. Foreign investors, however, were net sellers, offloading 4.20 trillion won worth of shares.

Among the top market capitalizations in the KOSPI, Samsung Electronics saw a significant increase of 7.9%. In contrast, SK Hynix experienced a decline of 0.68%. Other gainers included Samsung C&T (7.69%), Samsung Biologics (6.52%), Doosan Enerbility (2.02%), Hanwha Aerospace (1.21%), and Samsung Life (0.71%). On the downside, SK Square (-5.35%), Samsung Electro-Mechanics (-0.75%), Hyundai Motor (-0.59%), and HD Hyundai Heavy Industries (-0.17%) were among the decliners.

Meanwhile, the KOSDAQ index was trading at 902.08, up 10.56 points (1.18%) from the previous session. The KOSDAQ index also opened with a gain of 13.61 points (1.53%).

In the KOSDAQ market, individual and foreign investors were net sellers, with sales of 252.7 billion won and 34.6 billion won, respectively, while institutions were net buyers, purchasing 274.6 billion won.

Most of the top stocks in the KOSDAQ showed an upward trend. Alteogen led the gains with an increase of 10.81%, followed by Kolon TissueGene (5.99%), HLB (5.26%), EcoPro (4.85%), Rainbow Robotics (2.19%), Iot Technics (1.96%), EcoPro BM (1.52%), and JUSUNG Engineering (0.05%). However, Reno Industrial (-0.94%) and Wonik IPS (-1.20%) saw declines.

Kang Jin-hyuk, a researcher at Shinhan Investment Corp, noted, "The KOSPI rebounded as bargain hunting emerged following the previous day's shock, leading to a recovery in large-cap stocks." He added, "Despite some adjustments in certain small and medium-sized enterprises in the KOSDAQ market, major biotech stocks surged, driving the index upward."

* This article has been translated by AI.