SEOUL, KOREA - The KOSPI index resumed its recovery phase after 12 trading days, largely thanks to institutional investors who turned to a net-buying mode. Institutional investors focused on buying shares that are expected to benefit from the upcoming Chinese Mid-autumn Festival holiday including cosmetic and casino stocks.

 

On August 25 alone, institutional investors net-bought shares worth 95.4 billion won. this is the first time in 12 trading days since institutional investors turned to the net-buying trend. On the same day, the KOSPI index was closed at 2,060.89, up 0.2 percent (4.19 points) from the previous day.

 

The net-buying volume for each stock is as follows: LG Household & Health Care (13.4 billion won), AmorePacific preferred shares (3.9 billion won), AmorePacific (3.3 billion won), GKL (9.8 billion won), Paradise Casino (3.2 billion won), and Hotel Shilla (1.1 billion won).

 

Beginning early September, a series of holidays and an international athletic event will be held. During the Chinese Mid-autumn Festival holiday (September 6-8), the Incheon Asian Games (September 19-October 3), and the Chinese National Day Golden Week holiday (October 1-7), the number of inbound Chinese tourists is projected to rise by a large margin.

 

KTB Investment & Securities analyst Kim Min-jeong said, "Given the government's active promotion efforts, the inbound traveler numbers from China will rise rapidly from the next month."