KOSPI Turns Down on Foreign and Institutional Selling... KOSDAQ Shows Strength

[Asia Economy Reporter Oh Ju-yeon] The KOSPI, which started higher on the 2nd, turned lower in the afternoon. Foreigners and institutions sold off, pulling the index down.

As of 1:24 PM that day, the KOSPI recorded 2348.04, down 0.06% from the previous day. At the opening, the index started at 2363.43, up 0.59% from the previous day, but the upward momentum weakened afterward, giving back the gains.

This weakness is due to foreigners and institutions reducing their holdings. By investor type, individuals net bought 344.4 billion KRW worth, while foreigners and institutions net sold 202.4 billion KRW and 142.2 billion KRW worth, respectively.

Among the top market capitalization stocks, Samsung Electronics, NAVER, and Celltrion rose, while SK Hynix and LG Chem fell.

The KOSDAQ index maintained its upward trend. At the same time, the KOSDAQ index rose 0.95% from the previous day to 861.49.

Individuals sold 65.4 billion KRW worth, while foreigners and institutions net bought 73.6 billion KRW and 11.1 billion KRW worth, respectively.

Seo Sang-young, a researcher at Kiwoom Securities, said, "The domestic stock market started higher, supported by the strong U.S. stock market," adding, "Especially Apple-related stocks showed strength and led the market."

Researcher Seo added, "Meanwhile, foreigners continued to digest selling pressure, such as net selling in spot and futures markets, causing the market to turn lower. Changes are expected in the afternoon depending on foreign futures trends, continuing from the previous day."

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