KOSPI Slightly Lower Amid Joint Net Selling by Institutions and Foreigners... KOSDAQ Mixed Around 660 Level

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] The KOSPI opened higher as investor sentiment recovered following a rebound in global markets overnight, but gains narrowed and the index is trading near flat due to increased selling by institutional investors. The KOSDAQ index is also showing mixed performance around the 660 level.

On the 29th, the KOSPI opened at 2,188.18, up 11.46 points (0.53%) from the previous trading day. Although the KOSPI initially rose and seemed poised to reclaim the 2,280 level early in the session, selling pressure from institutions intensified, causing the index to turn lower and trade slightly down. As of 9:33 a.m., it was at 2,174.57, down 2.15 points (0.10%) from the previous day.

The previous day, the KOSPI closed at 2,176.72, down 3.09% amid concerns over the spread of the novel coronavirus (Wuhan pneumonia). Investor sentiment weakened as the Chinese government decided to extend the Lunar New Year holiday to prevent the spread of the virus, signaling the seriousness of the Wuhan pneumonia situation. Although the World Health Organization (WHO) did not declare a state of emergency, it upgraded the global risk level from 'moderate' to 'high' in a revised report, heightening concerns. By sector, stocks related to quarantine and vaccines surged due to fears of the virus spreading in Wuhan, China, while duty-free and airline stocks weakened amid expectations of reduced Chinese consumption and fewer travelers.

Overnight, major U.S. stock indices rose, supported by solid economic data amid ongoing monitoring of the coronavirus situation. On the 28th (Eastern Time), the Dow Jones Industrial Average closed at 28,722.85, up 187.05 points (0.66%) at the New York Stock Exchange (NYSE). The S&P 500 rose 32.61 points (1.01%) to 3,276.24, and the tech-heavy Nasdaq surged 130.37 points (1.43%) to close at 9,269.68.

Looking at current trading trends by investor type, individual investors are net buyers with 205.9 billion KRW, while institutions and foreigners are net sellers with 200.1 billion KRW and 9.9 billion KRW, respectively.

By sector, electrical and electronics, medical precision, and service industries are rising, while transportation equipment, pharmaceuticals, and insurance sectors are declining.

Among the top market capitalization stocks, LG Household & Health Care, NAVER, Samsung Electronics, and SK Hynix are rising. Conversely, Hyundai Mobis, Hyundai Motor, and Samsung Biologics are falling.

Currently, in the KOSPI market, 513 stocks are rising without any hitting the upper price limit, 260 stocks are falling without any hitting the lower price limit, and 121 stocks are unchanged.

The KOSDAQ index is also showing slight weakness as individual investors buy while institutions and foreigners sell. The KOSDAQ opened at 671.08, up 6.38 points (0.96%) from the previous day, and initially showed an upward trend, but like the KOSPI, it turned lower as institutions and foreigners sold. As of 9:33 a.m., it stands at 666.55, up 1.85 points (0.28%) from the previous day.

By investor type, individual investors are net buyers with 35.9 billion KRW, while institutions and foreigners are net sellers with 10.3 billion KRW and 24.8 billion KRW, respectively.

By sector, non-metal, telecommunications services, and semiconductors are rising, while textiles/apparel and pharmaceuticals are declining.

Among the top market capitalization stocks, Medytox, SFA, Celltrion Healthcare, Hugel, and Helixmith are rising, while HLB and Paradise are falling.

Currently, in the KOSDAQ market, 883 stocks are rising without any hitting the upper price limit, 333 stocks are falling without any hitting the lower price limit, and 97 stocks are unchanged.

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