[KRX Closing | Oct 23] KOSPI Reclaims 5,550 Threshold… KOSDAQ Slips for Second Consecutive Session

KOSPI gains 0.30% on 868.7 billion won in institutional net purchases, despite 981.4 billion won in foreign selling.

KOSDAQ falls 1.62% as secondary battery and electronic shares weaken, while individual event-driven stocks rally sharply.

South Korean equity markets showed a divergent trend on the 23rd. The KOSPI rebounded after a single session, driven by bargain-hunting from institutional investors despite massive foreign sell-offs. Conversely, the KOSDAQ extended its decline, led by weakness in the secondary battery and electrical and electronic sectors.

According to the Korea Exchange (KRX), the KOSPI closed up 16.53 points (0.30%) at 5,550.30. The KOSDAQ finished down 12.41 points (1.62%) at 751.69. The won-dollar exchange rate settled its daytime trading at 1,324.6 won, up 0.4 won from the previous session.

The KOSPI opened lower, weighed down by concerns over the profitability of U.S. AI firms and rising international oil prices driven by geopolitical tensions in the Middle East. Although foreign selling widened during the session, particularly in the electrical and electronic sectors, an influx of institutional bargain-hunting enabled the index to close slightly higher.

By sector, pharmaceuticals advanced 3.5%, medical precision equipment rose 2.5%, electrical and electronics gained 1.3%, and general services moved up 0.9%. Large-cap stocks rose 0.5%, while mid-cap and small-cap stocks declined 2.0% and 1.5%, respectively.

In terms of supply and demand, foreign investors net-sold 981.4 billion won, whereas institutional and retail investors net-bought 868.7 billion won and 44.8 billion won, respectively. Foreigners offloaded 908.7 billion won in electrical and electronics, 1880 billion won in finance, and 26.6 billion won in food, beverage, and tobacco.

The KOSDAQ fell for the second straight day as foreign selling focused on secondary batteries and electrical and electronic shares, pressured by overnight weakness in U.S. semiconductor stocks. By sector, publishing and media reproduction dropped 5.2%, finance declined 4.0%, and metals fell 2.2%. Retail investors net-bought 636 billion won, while foreign and institutional investors net-sold 443 billion won and 250 billion won, respectively.

Select Catalyst-Driven Stocks Surge Amid Mixed Trading

Jinyang Chemical (051630) surged 29.81% following news of Seoul Mayor Oh Se-hoon's acquittal in his appellate trial, while Jinyang Holdings (100250) also gained 3.64%. Defense stocks rallied, with Speco (013810) jumping 29.98% amid spreading rumors regarding the death of North Korean leader Kim Jong Un.

Samsung E&A (028050) advanced 7.94% on solid earnings and plans for treasury stock cancellation. SK hynix (000660) rose 4.42% following reports that Solidigm has suspended its IPO review, and iFamilySC (114840) skyrocketed 29.93% on news of a tender offer pursued by an affiliate of Japan’s Marubeni.

Contec (451760) gained 29.87% on successful space optical communication demonstrations. MonitorLab (434480) rose 13.07% on expectations of growing cybersecurity demand driven by PHP security vulnerabilities. Noiv (376930) surged 29.96% after deciding on a third-party allotted paid-in capital increase valued at approximately 2.8 billion won.

DTS (0015M0), which made its debut on the KOSDAQ market today, finished at 25,000 won, up 35.14% from its initial public offering (IPO) price.

On the other hand, Food나무 (290720) slumped 18.88% amid uncertainties surrounding fundraising and negotiations to sell the largest shareholder's stake. Bio Infra (199730) dropped 14.17% as uncertainties regarding delisting related to market capitalization requirements persisted.