KOSPI rises 1.93% to 7,130.22 on foreign, institutional buying

  • KOSPI rose 134.83 points as foreign and institutional investors bought Korean shares.
  • 134.83 points lifted KOSPI 1.93% to 7,130.22 at 11:23 a.m.
  • KOSPI opened at 7,045.79 after U.S. markets closed for Labor Day.

The KOSPI rose 134.83 points, or 1.93%, to 7,130.22 as of 11:23 a.m. on September 8, extending gains above 7,100. Foreign investors and institutions were net buyers, purchasing 170.6 billion Korean won and 655.2 billion Korean won of stocks, respectively, while individuals sold 1.4662 trillion Korean won to lock in profits. Semiconductor leaders Samsung Electronics and SK Hynix advanced 2.59% and 4.04%, respectively, while defense- and governance-related shares also gained. The KOSDAQ rose 0.80% to 828.76, led by Jusung Engineering and several semiconductor and secondary-battery stocks, although foreign and institutional investors sold KOSDAQ shares. Analysts said bargain-hunting targeted semiconductors and earnings-momentum stocks after recent declines, even as the U.S. Labor Day closure reduced trading volumes.

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