[Market Close] KOSPI Edges Up Despite Foreign Selling, Closes at 2570 Mark

# KOSPI Edges Higher Despite Foreign Investor Sell-off SEOUL—The KOSPI index closed slightly higher despite a selling trend among foreign investors. The index rose 0.27% to finish at 2570.39, compared to the previous trading day’s close of 2563.48, according to the Korea Exchange on October 10. In the main bourse, foreign investors net sold 436.2 billion won worth of shares. However, individual investors and institutions helped buffer the decline by net buying 208.7 billion won and 143.2 billion won worth of stocks, respectively. Among the large-cap stocks, LG Energy Solution climbed 3.10%, Hyundai Motor increased 0.41%, Kia gained 1.24%, and Naver advanced 0.94%. In contrast, SK Hynix fell 2.34%, Samsung Biologics dropped 1.55%, Celltrion decreased 0.43%, and Hanwha Aerospace declined 3.97%. Samsung Electronics ended the day flat. Kyung Min Lee, a researcher at Daishin Securities, remarked, “The KOSPI climbed due to strong individual buying and a shift to net buying by institutions.” He added, “With the easing of uncertainties emanating from the U.S., the KOSPI index rebounded and reclaimed the 2570 level during intraday trading.” Meanwhile, the KOSDAQ index closed 0.26% lower at 725.82, down from the previous trading day’s 727.70. On the KOSDAQ market, individual investors net purchased 57 billion won worth of shares, but foreign investors and institutions net sold 26.6 billion won and 41.8 billion won worth of stocks, respectively, dragging the index down. Among major stocks in the KOSDAQ, Alteogen rose 0.95%, EcoPro BM surged 5.40%, EcoPro climbed 0.84%, Hugel soared 6.45%, Classys increased 2.20%, Legochem Bio up 2.00%, and Pharmaresearch jumped 3.77%. Conversely, HLB tumbled 6.99%, Rainbow Robotics slid 2.65%, and Samchundang Pharm dipped 0.10%. Additionally, in the Seoul foreign exchange market, the won-dollar exchange rate ended the week’s trading at 1452.3 won, up 5.5 won from the previous trading day’s 1446.8 won.