The KOSPI and KOSDAQ are showing a rebound in the early part of the market.
As of 9:20 am on the 20th, the KOSPI is trading at 2616.57, up 24.23 points (0.93%) from the battlefield. On this day, the KOSPI started at 2605.78, up 13.44 (0.34%) points.
Although the New York stock market closed mixed yesterday, it is interpreted as the effect that the rechargeable battery industry is showing strength while the influence of the existing bad news is weakening.
In the KOSPI, institutions are net buying 36.5 billion won. Individuals and foreigners are net selling 29.4 billion won and 9.8 billion won, respectively.
By industry, all but textiles and apparel (-0.74%) are on the rise. Steel and metal (2.10%), machinery (2.05%) and chemicals (1.64%) are particularly strong.
Most of the industries with the highest market capitalization are also on the rise. LG Chem (3.39%) is rising by 3%, while LG Energy Solutions (1.81%), Hyundai Motor (1.92%), and Kia (1.95%) are showing an increase of nearly 2%.
On the other hand, Naver (-0.74%) and KB Financial (-0.18%) were slightly weak.
The KOSDAQ is also rebounding close to 1%. Cathode material producers EcoproBM and L&F, which rank first and second in market capitalization on the KOSDAQ, are also rising by 2% each.
Ji-young Han, a researcher at Kiwoom Securities, said, “It is true that the negative materials are still dominant and the market sentiment is dominated, but excessive pessimism should be avoided as they have been continuously reflected in prices and some negative factors are not getting worse. There is a need,” he explained.
“The domestic stock market is expected to rebound on this day, supported by expectations of earnings improvement from some companies, including rechargeable battery stocks, and attractive valuations compared to other stock markets, despite external uncertainties such as continued volatility in the US stock market and concerns about a slowdown in the US economy. ” he added.
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