Foreigners Sell Off 1 Trillion Won... KOSPI Closes at 1672

KOSDAQ Rebounds 2%... Nearly All Top 10 Market Cap Stocks Rise

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Amid continued selling pressure by foreigners offloading more than 1 trillion won, the KOSPI closed at the 1672 level. Although it briefly recovered to the 1700 level during the session, it soon fell back. Meanwhile, the KOSDAQ rebounded and closed at the 510 level.

On the 17th, the KOSPI closed at 1672.44, down 2.47% (42.42 points) from the previous day. The KOSPI opened at 1640.84, down 4.32% (74.02 points) from the previous day, gradually narrowed its losses, and at one point in the morning recovered to 1722.76. However, it soon turned downward again.

The selling pressure from foreigners appeared to have an impact. On the securities market, foreigners were net sellers of 1.0093 trillion won. Individuals and institutions were net buyers of 598.9 billion won and 358.3 billion won, respectively.

All sectors showed declines. The insurance sector had the largest drop at 6.71%. This was followed by banks (5.51%), financials (5.02%), electric and gas utilities (4.75%), and transportation and warehousing (4.52%).

Most of the top 10 market capitalization stocks also fell. Hyundai Motor had the largest decline at 3.38%. This was followed by Samsung Electronics (3.27%), Samsung Biologics (2.91%), Samsung SDI (2.77%), and NAVER (2.58%). On the other hand, Celltrion and LG Chem rose, increasing by 1.51% and 0.09%, respectively, compared to the previous day.

On this day in the KOSPI market, 238 stocks rose without any hitting the upper limit. Without any hitting the lower limit, 635 stocks fell. 32 stocks remained unchanged.

The KOSDAQ closed at 514.73, up 2.03% (10.22 points) from the previous day. Like the KOSPI, it opened at 488.02, down 3.27% (16.49 points) from the previous day, but began to rebound from the morning. Around 10:35 a.m., it rose to 518.72, up 2.82% from the previous session. Afterwards, it fluctuated and settled at the 510 level.

In the KOSDAQ market, strong selling pressure was seen from individuals. Individuals were net sellers of 334.3 billion won, while foreigners and institutions were net buyers of 248.9 billion won and 84.1 billion won, respectively.

Most sectors rose. The pharmaceutical sector stood out with a 5.52% increase. This was followed by transportation equipment and parts (3.86%), other services (3.59%), and distribution (3.12%). On the other hand, publishing and media duplication (3.18%), broadcasting services (1.84%), and textiles and apparel (1.65%) declined.

Unlike the generally declining KOSPI, most of the top 10 market capitalization stocks in the KOSDAQ rose. Hugel surged by a remarkable 12.28%. Seegene also showed double-digit gains, rising 10.52%. This was followed by HL Biopharma (8.50%), Pearl Abyss (6.90%), SK Materials (6.02%), and KMW (4.57%). Meanwhile, CJ ENM was the only stock to fall, closing at 94,000 won, down 3.09% from the previous day.

On this day in the KOSDAQ market, a total of 612 stocks rose, including 7 hitting the upper limit. Including 1 hitting the lower limit, 687 stocks fell, and 55 stocks remained unchanged.

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