KOSPI Falls Below 2430 Due to Institutional Selling Pressure

[Asia Economy Reporter Minji Lee] The KOSPI is showing a downward trend due to institutional selling pressure.

At 9:11 a.m. on the 17th, the KOSPI stood at 2,428.63, down 0.30% (7.29 points) from the previous session. The KOSPI opened at 2,430.77, down 0.21% (5.15 points) from the previous session, and has been fluctuating around the 2,430 level. Currently, foreigners and individuals are buying stocks worth 29 billion KRW and 45.2 billion KRW respectively, while institutions alone have sold stocks worth 81.5 billion KRW in the market.

Among the top market capitalization stocks, the leading stock Samsung Electronics traded at 60,300 KRW, down 1.15% from the previous session. Samsung Biologics (-1.16%), Naver (-1.47%), LG Chem (-0.29%), and Kakao (-0.93%) also declined.

Sangyoung Seo, a researcher at Kiwoom Securities, said, "Due to changes in the U.S. stock market, there will be increased profit-taking demands on stock groups that had shown strength due to liquidity regardless of stock groups or corporate fundamentals in the domestic market. As the index change is expected to be limited by the strength of stock groups attracting foreign inflows, overall stock differentiation will appear."

At the same time, the KOSDAQ index traded at 895.43, down 0.09% (0.77 points) from the previous session. The KOSDAQ index opened at 897.88, up 0.18% (1.60 points) from the previous session, showed an upward trend, but then turned downward. In the KOSDAQ market, foreigners and institutions sold stocks worth 42.6 billion KRW and 19.3 billion KRW respectively, while individuals alone net purchased 65.3 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare traded at 99,400 KRW, down 0.30% from the previous session. Alteogen (-0.42%), Genexine (-0.23%), KMW (-0.48%), CJ ENM (-0.83%), and EcoPro BM (-0.27%) also showed a downward trend.

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