KOSPI closes at 6,717.97 as institutional buying lifts Seoul stocks

  • KOSPI rose 90.71 points, or 1.37%, to close at 6,717.97 on Sept. 16.
  • Institutions bought a net 1.21 trillion won while foreign investors sold 1.68 trillion won.
  • KOSDAQ gained 3.57 points to 815.98 as Samsung Electronics and SK hynix advanced.

South Korea’s KOSPI rose 90.71 points, or 1.37%, to close at 6,717.97 on Sept. 16, snapping a four-session losing streak and reclaiming the 6,700 level. Institutional investors bought a net 1.2104 trillion won, offsetting net sales of 1.6825 trillion won by foreign investors and 1.1849 trillion won by retail investors; foreigners extended their selling streak to six sessions. Samsung Electronics and SK hynix led the advance as investors treated expected Federal Reserve tightening as largely priced in and returned to semiconductor shares after a recent decline. The KOSDAQ gained 3.57 points, or 0.44%, to 815.98, while Kakao Pay fell sharply after a procedural vote on a U.S. virtual asset-related bill was rejected. The rebound came amid elevated oil prices, a weaker won and rising U.S. Treasury yields, with markets focused on the Federal Open Market Committee decision, policymakers' rate projections and Chair Jerome Powell's press conference.

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