Foreigners and Institutions Sell... KOSPI Down 1%, KOSDAQ Down 2.6%

Big Hit Hits Upper Limit, Then Falls About 4%

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices are widening their losses amid selling pressure from foreigners and institutions.

As of 1:41 PM on the 15th, the KOSPI stood at 2357.17, down 1.01% (23.31 points) from the previous session. The KOSPI opened at 2375.91, down 0.19% (4.57 points) from the previous session, and has been extending its decline.

[Image source=Yonhap News]

By investor type, individuals alone bought stocks worth 346 billion KRW in the KOSPI market. Institutions and foreigners sold stocks worth 97.2 billion KRW and 57.4 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics traded at 60,000 KRW, down 1.48% from the previous session. Naver also fell 2.18%, while Hyundai Motor (-1.12%), Celltrion (-2.48%), Kakao (-2.17%), and Samsung SDI (-2.17%) declined as well.

Big Hit, which was listed today, initially hit the upper price limit but is currently trading down 4.7% at 257,000 KRW.

At the same time, the KOSDAQ index stood at 838.80, down 2.63% (22.68 points) from the previous session. The index opened at 861.37, down 0.01% (0.11 points) from the previous session, and has been extending its decline.

By investor type, individuals alone bought stocks worth 270.2 billion KRW in the KOSDAQ market, while foreigners and institutions sold stocks worth 87.7 billion KRW and 164.7 billion KRW, respectively.

Most of the top market capitalization stocks are declining. Celltrion Healthcare (-1.35%), Seegene (-0.52%), Alteogen (-5.29%), HLB (-4.06%), Celltrion Pharm (-2.50%), and Kakao Games (-4.87%) also fell.

Sangyoung Seo, a researcher at Kiwoom Securities, explained, “There was a tendency for selling pressure due to the increase in new COVID-19 cases,” adding, “Investor sentiment was dampened by delays in the US additional stimulus package, regulatory news on Chinese companies, and the expansion of lockdown policies in Europe.”

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