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This week, the Korea Composite Stock Price Index (KOSPI) has been showing a rising trend, receiving strength from foreign investors who have been continuously buying for two consecutive days. The phrase "셀코리아" (Cell Korea) – indicating the end of the Korean stock market's dominance – is starting to fade as optimism spreads in and outside the market.
On the 14th, the KOSPI closed at 6,977.94, up 2.42% from the previous day. Early in trading, the index surged past the 7,000 mark, reaching a high of 7,010.86. Throughout the day, the KOSPI managed to break through the 7,000 barrier, though it did not quite surpass it by the end of trading. Despite the relatively gentle upward momentum for the week, the index has been steadily climbing.
On the 10th, the KOSPI rose 0.65%, followed by a 0.73% increase the next day, and then 2-3% over the subsequent days, totaling an 11.5% rise in five trading sessions. The driving force behind this surge has been foreign investors. Excluding the 10th, which saw a 15 trillion won outflow, foreign investors recorded a net purchase of 8 trillion won over the course of the week, totaling 8.08 trillion won across the 11th to 14th.
Foreign investors' forceful purchasing and sustained activity this week are the highest levels seen this year. Foreign funds have been steadily flowing in since the middle of last month, with a 6 trillion won purchase in the latter half of the month, the first time since April last year (1.2 trillion won). Subsequently, foreign investors have shown unprecedented activity, with 44.5 trillion won in July alone.
During this week's foreign investors' continuous net purchases, semiconductor large-cap stocks were the most heavily traded. Samsung Electronics saw a 2.43% increase, trading at 27,450 won, while SK Hynix rose 3.26% to 164,500 won, both continuing the consecutive upward trend seen from the 11th to 14th. This week's foreign investor influx centered around semiconductor large-cap stocks, unlike the all-encompassing surge seen so far this year.
Analysts noted that this week's rise was more multi-sectoral, with telecommunications, automotive, and oil industries also supporting the index. Trading on the securities market saw 677 companies rising, while 204 fell, with communication, automotive, and energy sectors leading the charge. Modern Motors and Modern Motors Plus, up 8.24% and 7.05% respectively, outpaced semiconductor large-cap stocks, while LG Electronics and Samsung EDIX, HI INNOVATION, and SK Telecom posted 4-5% gains.
Eu Jin Investment Securities analyst Hui Rhan Lee said, "The KOSPI and KOSDAQ's bullish momentum continue, signaling growing risk appetite due to positive earnings and easing inflation."
Written by urgent.news from Hankyoreh's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- The number of young people who were not in education, employment, or training (NEET) decreased by 70,000, but those who were preparing for work or study increased significantly. According to Statistics Korea on the 15th, the number of young people aged 15-29 who were 'not in education, employment, or training' (NEET) was 410,000 as of May this year, down 70,000 from the same month last year. The number of young people who were 'not in education, employment, or training' has been on the decline for three consecutive months. However, despite the decrease in the number of young people who were 'not in education, employment, or training', the number of young people who were 'preparing for work or study' increased significantly. As of May this year, 2.52 million young people were preparing for work or study, up 230,000 from the same month last year. This is an increase of 130,000 from the previous month, and the largest increase since 2015 when the relevant statistics were first compiled. The number of young people who were 'preparing for work or study' accounted for 34.4% of all young people, up 3.3 percentage points from the same month last year. The number of young people who were 'preparing for work or study' increased across all regions, with the largest increase in Seoul, where the number rose by 90,000 to 930,000. The number of young people who were 'preparing for work or study' in urban areas increased by 150,000 to 1.83 million, and in rural areas, it increased by 80,000 to 690,000. The Statistics Korea said, "The number of young people who were 'preparing for work or study' increased significantly, driven by an increase in those preparing for public service exams and employment." hani.co.kr
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