KOSPI, Gains Narrow Amid Foreign Selling Pressure

[Asia Economy Reporter Minji Lee] The KOSPI is narrowing its gains amid foreign selling pressure.

At 2:03 PM on the 28th, the KOSPI stood at 2356.76, up 0.53% (12.31 points) from the previous session. The index opened at 2362.22, up 0.76% (17.77 points) from the previous close, and rose to as high as 2379.26 points, but has since given back some of its gains in the afternoon.

[Image source=Yonhap News]

Currently, in the KOSPI market, individuals and institutions have bought stocks worth 57.4 billion KRW and 59.7 billion KRW respectively, while foreigners have sold stocks worth 116.5 billion KRW.

Sangyoung Seo, a researcher at Kiwoom Securities, analyzed, "The domestic stock market extended the ban on short selling and saw a decrease in new COVID-19 cases, which led institutions to switch to net buying and boost the upward trend. However, in the afternoon, foreigners have been offloading stocks mainly in the electric and electronic and pharmaceutical sectors, returning some of the gains."

Among the top market capitalization stocks, Samsung Electronics is trading up 0.36% at 55,800 KRW. Other stocks such as Celltrion (0.16%) and Hyundai Motor (5.81%) are also showing gains. Conversely, SK Hynix (-1.39%), Naver (-0.89%), LG Chem (-0.13%), and Kakao (-0.97%) are experiencing declines.

At the same time, the KOSDAQ index is at 843.57, up 0.86% (7.17 points) from the previous session. The KOSDAQ opened at 841.76, up 0.64% (5.36 points) from the previous close. In the KOSDAQ market, foreigners and institutions have bought stocks worth 42.5 billion KRW and 99.7 billion KRW respectively, while individuals have sold stocks worth 126.5 billion KRW.

Celltrion Healthcare, the market cap leader in the KOSDAQ, traded at 103,000 KRW, up 1.28% from the previous session. Alteogen (1.36%), HL Biopharma (1.48%), Celltrion Pharm (0.89%), and KM Healthcare (2.94%) are also showing upward trends.

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