KOSPI Fluctuates Around 2250 Level Amid Foreign and Institutional Selling

[Asia Economy Reporter Oh Ju-yeon] The domestic stock market is experiencing fluctuations amid news of the novel coronavirus, known as China's 'Wuhan pneumonia.' The previous day, the market showed strength and stabilized as the Chinese government announced proactive measures. However, news of a sharp increase in confirmed cases and deaths on the day has become a burden on the market's rise. Additionally, in the U.S. stock market, individual companies are experiencing increased daily volatility, and despite a preference for risk assets, profit-taking sales have emerged, leading to analyses that the KOSPI may also face corrections.

As of 9:18 a.m. on the 23rd, the KOSPI recorded 2245.78, down 0.95% compared to the previous trading day. The KOSPI started slightly lower at 2254.54 and then the decline widened. Foreigners and institutions sold off 51.8 billion KRW and 75.8 billion KRW worth of stocks respectively, pulling the index down. Individuals net purchased stocks worth 124.9 billion KRW.

Among the top market capitalization stocks, Samsung Electronics (-1.93%), SK Hynix (-1.29%), NAVER (-2.15%), and LG Chem (-0.85%) declined, while Samsung Biologics (2.88%) and Hyundai Motor (0.79%) rose.

The KOSDAQ index recorded 683.96, down 0.63% from the previous trading day. Foreigners and institutions net sold stocks worth 30.8 billion KRW and 9.6 billion KRW respectively, while individuals net purchased 40.2 billion KRW worth of stocks.

Most of the top market capitalization stocks declined. Celltrion Healthcare (-0.72%), HL Biopharma (-1.43%), CJ ENM (-0.85%), and Studio Dragon (-0.93%) fell.

This content was produced with the assistance of AI translation services.