KOSPI inches up as corporate buying offsets foreign, retail sell-offs

The KOSPI index saw a slight increase on Wednesday, driven by corporate investors as Samsung Electronics and SK hynix intensified their share buyback plans. The benchmark index began the day at 6,727.25, a 0.23 percent decline from the previous session, but fluctuated within a narrow range before gaining traction in the afternoon. It ultimately closed at 6,808.21, marking a 0.97 percent rise.

Despite the overall market sentiment, retail and foreign investors contributed to selling pressure. Retail investors sold a net 2.25 trillion won worth of shares, while foreign investors offloaded 105.2 billion won. On the other hand, institutional investors stepped in to offset the loss by purchasing a net 764.9 billion won.

However, corporate investors emerged as the most significant buyers, spending a net 1.6 trillion won. This buying trend was likely influenced by the share buyback announcements made by Samsung Electronics and SK hynix. Shares of these two semiconductor giants climbed by 1.75 percent and 0.6 percent, respectively.