Foreigners and Institutions Sell Off, KOSPI Plunges 1.5%

KOSDAQ Falls by 2.5%... Majority of Top Market Cap Stocks Also Decline

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[Asia Economy Reporter Minwoo Lee] The KOSPI fell more than 1.5% during the trading session. This is interpreted as being influenced by the selling pressure from foreigners and institutions.

As of 1:55 PM on the 16th, the KOSPI recorded 2325.43, down 1.52% (35.72 points) from the previous day. It started at 2363.88, up 0.11% from the previous day, and the decline has been widening since then.

The index appears to have fallen due to selling pressure from foreigners and institutions. Foreigners and institutions net sold 176.1 billion KRW and 145.2 billion KRW, respectively. Individuals bought 426.2 billion KRW.

Most sectors are in decline. The paper and wood sector had the largest drop at 2.86%. This was followed by transportation equipment (-2.75%), pharmaceuticals (-1.69%), and manufacturing (-1.65%). Only electric gas utilities (2.38%) and insurance (0.07%) rose.

Most of the top 10 market capitalization stocks also declined. Hyundai Motor had the largest drop at 3.6%. This was followed by Samsung SDI (-2.9%), Samsung Biologics (-2.7%), and SK Hynix (-2.3%). Only Celltrion (0.7%), LG Household & Health Care (0.5%), and NAVER (0.1%) rose.

The KOSDAQ's decline was even greater. At the same time, it recorded 823.41, down 2.49% (21.02 points) from the previous session. It started at 845.63, up 0.14% from the previous day, and the decline has been widening since then.

Again, selling pressure from foreigners and institutions was strong. Foreigners and institutions net sold 64.1 billion KRW and 118.2 billion KRW, respectively. Individuals net bought 191.4 billion KRW.

Almost all sectors are falling as well. The telecommunications equipment sector had the largest drop at 3.55%. This was followed by transportation (-3.37%), publishing and media replication (-3.33%), and metals (-3.28%), with many sectors falling in the 2-3% range. Only broadcasting services and telecommunications broadcasting services rose by 0.60% and 0.20%, respectively.

All of the top market capitalization stocks are declining. Genexine had the largest drop at 4.7%. This was followed by KM Healthcare (-3.3%), Kakao Games (-1.4%), and HL Biopharma (-1.2%).

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