[Edaily Reporter kyoungeun kim ] On the 30th, the KOSPI closed up 0.97% on the final trading day of the first half of the year. Although foreign investors engaged in massive selling amounting to nearly 3.8 trillion won, institutions stepped in with aggressive buying to defend the index.

According to MP Doctor, the KOSPI closed at 8,476.48, up 81.83 points (0.97%) from the previous trading day. The index displayed volatility, falling as low as 8,220.80 at one point during the session before rising to 8,667.73 in the afternoon.

Institutional investors led the index higher with net purchases of 2.9361 trillion won. Retail investors also showed a net buying position of 833.5 billion won. In contrast, foreign investors continued their net selling, offloading 3.7965 trillion won worth of shares. Program trading, combining arbitrage and non-arbitrage trades, recorded a net sell of 2.7091 trillion won.

Throughout June, foreign investors sold off approximately 45 trillion won worth of stocks on the KOSPI market alone. Kang Jin-hyuk, a senior researcher at Shinhan Investment Securities, said, “As we approach the final stages of semi-annual rebalancing, foreign investors have been net sellers of semiconductor-focused spot stocks for the eighth consecutive trading day.” Semi-annual rebalancing refers to the process by which pension funds and other investment funds adjust their asset allocations back to target weights at the end of a half-year or quarter.

Lee Eun-taek, an analyst at KB Securities, predicted, “From a supply-and-demand perspective, the pressure from rebalancing is likely to ease after the end of this month and the beginning of next month,” adding, “In terms of price-to-value ratios, short-term overheating concerns also appear likely to subside sometime after early July.”

Following the government’s announcement of its three major mega-projects, semiconductor materials, parts, and equipment stocks, as well as power equipment stocks, surged significantly on the day. By sector, electronic equipment and devices jumped by around 7%, while leisure equipment and products, electrical equipment, and oil and gas rose by 3–5%. In contrast, electrical appliances fell by around 7%, and chemicals, biotechnology, pharmaceuticals, and steel also closed down by 3–4%.

Most of the top-market-cap stocks closed higher. SamsungElectronics(005930), which announced a large-scale domestic investment the previous day, closed at 334,000 won, up 11,000 won (3.41%), while SK hynix(000660)traded at 2.65 million won, up 22,000 won (0.84%).

In addition, SamsungElectroMechanics(009150), which announced a 4500억 원 MLCC contract with a major tech company, surged 7.16%, while SKSQUARE(402340)(+3.48%) and SamsungElectronics(1P)(005935)(+0.71%) also posted gains. On the other hand, LG Energy Solution(373220)(-9.61%), SAMSUNG BIOLOGICS(207940)(-3.94%), Samsung Life Insurance(032830)(-1.84%), SAMSUNG C&T CORPORATION(028260)(-0.53%), and HyundaiMotor(005380)(-0.40%) all fell.

On the same day, the KOSDAQ closed at 916.18, down 4.39 points (0.48%) from the previous trading day. Retail investors were net buyers of 3902억원, while foreign and institutional investors were net sellers of 2453억원 and 1430억원, respectively.

The top KOSDAQ stocks by market capitalization closed mixed. JUSUNG ENGINEERING Co.,Ltd.(036930)(+13.82%), EO Technics Co., Ltd.(039030)(+4.27%), WONIK IPS Co.,Ltd.(240810)(+5.72%), HLB INC.(028300)(+1.96%), and Rainbow Robotics(277810)(+0.58%) rose. Conversely, ECOPRO CO., LTD(086520)(-9.66%), ECOPRO BM CO., LTD.(247540)(-7.77%), Kolon TissueGene, Inc.(950160)(-3.90%), Alteogen Inc.(196170)(-3.22%), and LEENO Industrial Inc(058470)(-1.52%) fell.