Institutional and Foreign Joint Selling... KOSPI and KOSDAQ Decline Trend
[Asia Economy Reporter Minji Lee] In early trading, the KOSPI and KOSDAQ indices are showing a downward trend due to selling pressure from institutions and foreigners.
At 9:08 a.m. on the 21st, the KOSPI stood at 2769.37, down 0.10% (2.81 points) from the previous trading day. The KOSPI opened at 2771.98, down 0.01% (0.20 points) from the previous day, showed a slight upward trend but then turned downward due to selling by institutions and foreigners. On this day, foreigners and institutions sold stocks worth 33.5 billion KRW and 40 billion KRW respectively in the KOSPI market, while individuals alone bought stocks worth 87.4 billion KRW.
Among the top market capitalization stocks, Samsung Electronics rose 0.41% to 73,300 KRW compared to the previous session. On the other hand, SK Hynix (-1.69%), Samsung Biologics (-0.37%), Hyundai Motor (-0.53%), and Samsung SDI (-0.53%) declined.
At the same time, the KOSDAQ index stood at 943.75, down 0.37% (3.49 points) from the previous trading day. The KOSDAQ opened at 948.64, up 0.15% (1.40 points) from the previous session, but soon turned downward. Looking at trading trends by investor type, foreigners and institutions sold stocks worth 40 billion KRW and 27.5 billion KRW respectively. Individuals alone purchased stocks worth 76.3 billion KRW.
Among the top market capitalization stocks, Celltrion Healthcare and Celltrion Pharm rose 1.78% and 1.61% respectively. Seegene recorded a 0.24% increase to 209,600 KRW. Conversely, HLB (-0.65%), Alteogen (-1.52%), Pearl Abyss (-1.08%), and EcoPro BM (-1.04%) declined.
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Seonghoon Seo, a researcher at Samsung Securities, explained, “The imminent conclusion of additional stimulus negotiations in the U.S. Congress will be a favorable factor for risk appetite in the domestic stock market. However, the accelerating resurgence of COVID-19 and possible year-end profit-taking sales pose significant potential burdens.”
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