Foreigners and Institutions Sell Off, KOSPI Starts Down at 2326.55

The KOSDAQ Index Starts Up 0.15%

[Asia Economy Reporter Minji Lee] The KOSPI opened lower due to selling pressure from foreigners and institutions.

At 9:05 a.m. on the 28th, the KOSPI was at 2326.55, down 0.18% (4.29 points) from the previous session. The KOSPI started the day at 2324.18, down 0.29% (6.66 points) from the previous close. Looking at investor trends, individual investors alone are buying stocks worth 84.8 billion KRW in the KOSPI market. Foreigners and institutions sold stocks worth 4.4 billion KRW and 81.5 billion KRW, respectively.

Among the top market capitalization stocks, Naver (0.88%), LG Chem (1.42%), Samsung Biologics (0.79%), Celltrion (0.42%), and Kakao (1.65%) rose. On the other hand, Samsung Electronics (-0.84%), SK Hynix (-0.24%), and Hyundai Motor (-0.87%) declined.

The KOSDAQ index at the same time was at 789.58, up 0.69% (5.41 points) from the previous session. The KOSDAQ index started the day at 784.88, up 0.15% (1.15 points) from the previous close. Looking at investor trends, individual and foreign investors are buying stocks worth 2.1 billion KRW and 15.8 billion KRW, respectively. Institutions alone sold stocks worth 14.7 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare traded at 83,700 KRW, up 0.60% from the previous session. Seegene (1.60%), HLB (0.65%), Alteogen (0.72%), Celltrion Pharm (0.67%), and Kakao Games (1.70%) also rose.

Seonghoon Seo, a researcher at Samsung Securities, explained, “As expectations for the resumption of economic activities have retreated due to the spread of COVID-19, a correction in cyclical sectors is expected. Considering the additional stimulus measures becoming regulated after the U.S. presidential election and the continued strength of the Korean won, the mid- to long-term trend is positive.”

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