KOSPI Slightly Down Near 1830 Due to Institutional and Foreign Selling... KOSDAQ Slightly Lower

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[Asia Economy Reporter Koo Eun-mo] The KOSPI is showing a slight decline in the early session due to net selling by institutional and foreign investors. The overnight New York stock market closed lower, weighed down by shrinking real economy indicators and slowing earnings. The KOSDAQ index also moved slightly down around the 610 level compared to the previous trading day.

On the 16th, the KOSPI opened at 1,839.51, down 17.57 points (0.95%) from the previous trading day. The KOSPI, which started lower, is showing a slight downward trend due to net selling by institutional investors. As of 9:25 a.m., it was at 1,835.92, down 21.16 points (1.14%) from the previous day.

Overnight, major indices on the New York Stock Exchange (NYSE) fell due to worse-than-expected economic indicators and weak bank earnings. On the 15th (Eastern Time), the Dow Jones Industrial Average closed at 23,504.35, down 445.41 points (1.86%) from the previous day. The Standard & Poor's (S&P) 500 index fell 62.70 points (2.2%) to 2,783.36, and the tech-heavy Nasdaq closed down 122.56 points (1.44%) at 8,393.18.

The U.S. stock market declined due to a sharp contraction in real economic indicators and slowing earnings, which is analyzed as a negative factor for the Korean stock market, highly dependent on exports. Kiwoom Securities researcher Seo Sang-young said, “Although the easing of COVID-19 fears, such as the New York governor mentioning a gradual reopening of businesses, could positively affect investor sentiment, these positive factors are already reflected in the stock market, so the market is expected to react more sensitively to the factors causing the U.S. market decline.”

He added, “In particular, the fact that international oil prices fell below $20, increasing credit risk for energy companies, the sharp contraction in real economic indicators which means it may take time to improve even after economic reopening, and the strong dollar are negative for foreign investor demand, which burdens the Korean stock market.”

Currently, by trading entity, institutional and foreign investors are net sellers of 157.1 billion KRW and 17.5 billion KRW, respectively. On the other hand, individual investors are net buyers of 166.9 billion KRW.

By sector, non-metallic minerals, services, and pharmaceuticals are rising, while electric and gas utilities, insurance, and telecommunications are falling.

Among the top market capitalization stocks, Samsung SDI, LG Chem, and NAVER are rising. Conversely, POSCO, SK Telecom, Hyundai Mobis, Samsung C&T, and SK Hynix are declining.

Currently, in the KOSPI market, 246 stocks are rising without any hitting the upper limit, 567 stocks are falling without any hitting the lower limit, and 77 stocks are unchanged.

The KOSDAQ index is also moving within a narrow range. It opened at 606.69, down 3.60 points (0.59%) from the previous day, showing a slight decline around the 610 level in the early session. As of 9:25 a.m., it was at 605.19, down 5.10 points (0.84%) from the previous day.

Currently, by investor type, individual investors are net buyers of 67.7 billion KRW, while foreign and institutional investors are net sellers of 32.3 billion KRW and 35.5 billion KRW, respectively.

By sector, entertainment and culture, general electric and electronics, and telecommunication services are rising, while broadcasting services, medical and precision instruments, and food and tobacco are falling.

Among the top market capitalization stocks, EcoPro BM, Studio Dragon, and KMW are rising. Conversely, Hugel, Genexine, Celltrion Pharm, and SK Materials are declining.

Currently, in the KOSDAQ market, including one stock hitting the upper limit, 488 stocks are rising, 707 stocks are falling without any hitting the lower limit, and 113 stocks are unchanged.

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