KOSPI Continues Weak Trend in the Afternoon... KOSDAQ Rises Over 1%

[Asia Economy Reporter Minji Lee] The KOSPI is showing weakness in the afternoon due to selling pressure from foreigners and institutions.

At 12:56 PM, the KOSPI stood at 2327.09, down 0.17% (3.75 points) from the previous session. The KOSPI opened the day at 2324.18, down 0.29% (6.66 points) from the previous session. Looking at investment trends, individuals bought stocks worth 266.6 billion KRW, while foreigners and institutions sold stocks worth 39.3 billion KRW and 225.9 billion KRW, respectively.

[Image source=Yonhap News]

Among the top market capitalization stocks, SK Hynix (0.36%), Naver (3.53%), Samsung Biologics (0.16%), Celltrion (0.21%), and Kakao (2.52%) rose.

At the same time, the KOSDAQ index was at 794.21, up 1.34% (10.48 points) from the previous session. The KOSDAQ opened at 784.88, up 0.15% (1.15 points) from the previous session. Regarding investment trends, individuals bought stocks worth 33.3 billion KRW, and foreigners also net purchased stocks worth 9.5 billion KRW. Institutions were the only sellers, offloading stocks worth 32.9 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare (0.60%), Seegene (0.47%), HL Biopharma (0.22%), Alteogen (6.92%), and Celltrion Pharm (0.48%) showed upward trends.

Seosangyoung, a researcher at Kiwoom Securities, said, “The Korean stock market showed weakness as profit-taking emerged after Microsoft’s after-hours 1.7% drop despite solid earnings and concerns over a full economic lockdown in France due to the spread of COVID-19.” He added, “If the Chinese stock market’s rebound widens in the afternoon, there is potential for a rebound buying influx, so attention should be paid to the Chinese stock market’s movement.”

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