KOSPI Hesitates... Closes Down 0.8% at 2183

Foreign and Institutional Selling Drive Index Decline
All Top 10 Market Cap Stocks Except Hyundai Motor Fall

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI, which had surpassed 2200, closed slightly lower in the 2180 range. It appears that selling pressure from foreigners and institutions pulled the index down.

On the 16th, the KOSPI closed at 2183.82, down 0.82% (18.07 points) from the previous day. After opening at 2203.30 and rising to 2207.34 early in the session, it steadily declined to 2177.82 around 2 PM. It then rebounded slightly to finish in the 2180 range.

Individual investors showed buying momentum alone, but it was insufficient to counteract the selling pressure from foreigners and institutions. On this day in the KOSPI market, individuals net bought 301.2 billion KRW, while foreigners and institutions net sold 133.1 billion KRW and 184.5 billion KRW, respectively.

Many sectors declined. The service industry showed the largest drop at 2.48%. This was followed by electrical and electronics (-1.42%), pharmaceuticals (-1.37%), non-metallic minerals (-1.04%), and manufacturing (-0.95%). Conversely, insurance (2.19%), securities (1.63%), and construction (1.49%) rose.

Among the top 10 stocks by market capitalization, all fell except Hyundai Motor, which rose 0.9%. NAVER (-4.7%) and Kakao (-4.5%) experienced the largest declines. This was followed by LG Chem (-3.8%), Samsung Biologics (-2.2%), Samsung SDI (-1.7%), and Samsung Electronics (-1.6%).

The KOSDAQ also closed down 0.80% (6.23 points) at 775.06 compared to the previous day. After opening at 783.24, the 780 level began to break down around 11:21 AM. The decline widened, dropping to 769.39 around 2:30 PM, but it then rebounded to close near 775.

In the KOSDAQ market as well, individual buying and institutional and foreign selling were in opposition. Individuals net bought 363.8 billion KRW, while foreigners and institutions net sold 142.4 billion KRW and 168.2 billion KRW, respectively.

Most sectors declined. The telecommunications equipment sector had the largest drop at 2.14%, followed by digital content (-2.06%), semiconductors (-1.94%), and textiles and apparel (-1.60%). Meanwhile, transportation equipment and parts (2.35%), paper and wood (1.87%), and transportation (0.73%) rose.

Most of the top 10 stocks by market capitalization also fell. KMH and Pearl Abyss each dropped 3.6%, showing the largest declines. CJ ENM (-1.5%) and Celltrion Healthcare (-1.3%) also declined. On the other hand, Seegene (4.2%) and HL Biopharma (3.7%) rose.

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