KOSPI and KOSDAQ Plunge Over 1% Amid Foreign and Institutional Selling Pressure

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices are showing a decline of over 1% despite strong buying by individual investors.

On the 22nd, the KOSPI index showed a weak trend after starting with a rise. Dealers are working in the dealing room of Hana Bank in Euljiro, Seoul. Photo by Moon Honam munonam@

At 1:39 PM on the 22nd, the KOSPI was trading at 1969.56, down 1.44% (28.75 points) from the previous session. The index opened at 2001.60, up 0.16% (3.29 points) from the previous close, but soon turned downward and widened its losses. In the current market, foreigners and institutions sold stocks worth 394 billion KRW and 210.4 billion KRW respectively, while individuals alone purchased stocks worth 616.9 billion KRW.

Among the top market capitalization stocks on the KOSPI, all are declining except Samsung Biologics (0.99%), Naver (2%), and Kakao (3.16%). Samsung Electronics traded at 48,800 KRW, down 2.3% from the previous session. SK Hynix (-2.52%), Celltrion (-1.83%), and LG Chem (-0.13%) are also showing downward trends.

Seosangyoung, a researcher at Kiwoom Securities, said, "The index fell as tensions between the US and China intensified," adding, "The decline widened as uncertainty increased, with China’s National People's Congress not announcing a GDP growth target for the first time ever."

The KOSDAQ index also widened its losses in the afternoon. At the same time, the KOSDAQ index was trading at 706.08, down 1.39% (9.94 points) from the previous session. In the market, foreigners and institutions sold stocks worth 159.9 billion KRW and 115.1 billion KRW respectively, while individuals alone bought stocks worth 280.3 billion KRW. Among the top market capitalization stocks, only Seegene (2.21%), Alteogen (2.38%), and EcoPro BM (1.44%) maintained upward momentum.

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