KOSPI inches up as corporate buying offsets foreign, retail sell-offs
The KOSPI edged higher Wednesday, buoyed by buying from corporate investors as Samsung Electronics and SK hynix stepped up share buyback plans, though cautious trading ahead of Nvidia’s earnings kept gains in check. The benchmark index opened at 6,727.25, down 0.23 percent from the previous session, and moved within a narrow range before picking up momentum in the afternoon. It ultimately closed…
The KOSPI index saw a modest rise on Wednesday as corporate investors' buying overrode foreign and retail sell-offs. Samsung Electronics and SK hynix announced plans to increase their share buybacks, which contributed to the upward momentum. The benchmark index started the trading day at 6,727.25, down 0.23 percent from the prior session, but ended the day at 6,808.21, up 0.97 percent.
Despite retail investors selling a net 2.25 trillion won worth of shares and foreign investors selling 105.2 billion won, institutional investors stepped in with a net purchase of 764.9 billion won. Corporate investors, including non-individual, foreign, and institutional entities, were the most significant buyers, purchasing a net 1.6 trillion won.
This buying trend, partly driven by the share buyback programs of Samsung Electronics and SK hynix, resulted in gains for the semiconductor giants, with their shares increasing by 1.75 percent and 0.6 percent, respectively.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
