KOSPI Falters, Closes Below 2200 Again at 2198

Foreigners and Institutions Sell Off... KOSDAQ Falls to Early 780s

On the afternoon of the 20th, dealers are working in the dealing room of KEB Hana Bank in Jung-gu, Seoul.
[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI index fell below 2200 again after three trading days. Despite individual investors' buying momentum, selling pressure from foreigners and institutions dragged the index down.

According to the Korea Exchange on the 20th, the KOSPI index closed at 2198.19, down 0.14% (3.00 points) from the previous session. It opened slightly higher at 2209.59 than the previous day but the opening price was also the highest price of the day. The index declined from the start of trading and dropped to 2183.83 around 10:14 a.m. It recovered above the 2200 level in the afternoon but fell again just before the close, finishing in the 2198 range.

In the KOSPI market, individuals net bought 407.6 billion KRW, while foreigners and institutions net sold 76.1 billion KRW and 329.6 billion KRW, respectively.

By sector, most sectors declined. The service sector had the largest drop at 1.85%. This was followed by securities (-1.63%), distribution (-1.04%), and insurance (-0.98%). Meanwhile, transportation equipment (1.88%), banking (1.56%), and construction (1.19%) rose.

Among the top 10 market capitalization stocks, most fell. NAVER and Kakao notably dropped by 4.7% and 4.6%, respectively. This was followed by Celltrion (-1.5%), Samsung SDI (-1.3%), and LG Chem (-0.9%). Only Hyundai Motor and Hyundai Mobis rose by 3.4% and 1.5%, respectively.

The KOSDAQ index also showed a downward trend. It closed at 781.96, down 0.16% (1.26 points) from the previous session. Like the KOSPI, it started declining early in the session and fell to 776.97 around 10 a.m. It then rebounded and finished in the low 780s.

In the KOSDAQ market, individual buying and foreign and institutional selling were also in opposition. Individuals net bought 117.8 billion KRW, while foreigners and institutions net sold 99.9 billion KRW and 13.2 billion KRW, respectively.

By sector, telecommunications equipment had the largest gain at 2.28%. This was followed by textiles and apparel (1.66%), information devices (1.39%), metals (1.30%), and publishing and media reproduction (1.14%). Meanwhile, transportation equipment and parts (-1.58%), digital content (-1.42%), and distribution (-1.33%) declined.

Among the top 10 market capitalization stocks, more stocks fell than rose. Celltrion Pharm's decline was the largest at -3.0%. This was followed by HL Biopharma (-2.8%), Celltrion Healthcare (-1.7%), CJ ENM (-1.3%), and Pearl Abyss (-1.1%). On the other hand, KMV (3.7%), SK Materials (2.8%), EcoPro BM (2.1%), and Seegene (1.7%) rose.

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