[Closing Market] KOSPI Reclaims 7,000 on Institutional Buying
The domestic stock market succeeded in an upward reversal on Oct. 2, driven by concentrated late-session buying from institutional investors, abruptly recapturing the 7,000 level for the first time in five trading days. In early trading, the market showed weakness in the aftermath of U.S. Treasury y
On October 2, the domestic KOSPI stock market managed a strong rebound, regaining the 7,000 level for the first time in five days. Earlier, the market had shown weakness due to U.S. Treasury yield volatility and global economic uncertainty, dropping to 6,920 before institutions stepped in and pushed the index upwards. The won/dollar exchange rate experienced a decline of over 7 won, settling at 1,350, while the KOSPI index opened at 6,938.27, losing 33.08 points (0.47%) from the previous day.
With strong institutional buying, the KOSPI closed at 7,003.74, up 32.39 points (+0.46%) from the prior session. The KOSDAQ index also recovered, closing at 893.29, up 0.11% from the previous day. In the foreign exchange market, domestic investors and individuals collectively sold stocks, while institutions alone bought, driving the net purchase of 381.4 billion won and contributing to the KOSPI's recovery.
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