Both KOSPI and KOSDAQ Turn Downward

Institutional Selling Pressure Strong

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[Asia Economy Reporter Minwoo Lee] Both the KOSPI and KOSDAQ, which started off slightly firm, have turned to a downward trend.

At 10:06 a.m. on the 23rd, the KOSPI recorded 2724.35, down 0.34% (9.33 points) from the previous day. After opening at 2737.74, up 0.15% from the previous day, it rose to 2752.83 in the early session but soon lost momentum and fell.

The decline in the index appears to have been driven by continued selling by foreigners and individuals. Foreigners and individuals sold a net 55.8 billion KRW and 27.5 billion KRW, respectively. Institutions bought 78.4 billion KRW.

Most sectors turned to a decline. The construction sector had the largest drop at -1.63%, followed by steel & metals (-1.38%) and chemicals (-1.34%). Retail (0.51%) and food & beverages (0.41%) saw slight increases.

Among the top 10 market capitalization stocks, many sectors are still rising. Samsung C&T rose the most at 3.0%, followed by Kakao (1.3%), Celltrion (0.8%), and Samsung Electronics (0.6%). On the other hand, LG Chem (-1.5%), Samsung SDI (-1.4%), and Samsung Biologics (-0.5%) declined.

The KOSDAQ showed a similar trend. At the same time, it recorded 924.08, down 0.52% (4.65 points) from the previous day. It also started at 932.25, up 0.38% from the previous day, but turned downward about an hour after the opening. Around 10:02 a.m., it even dropped to 918.44.

In the KOSDAQ market, the index decline appears to be due to increased selling by institutions. Institutions sold 115.8 billion KRW worth within an hour of the opening. Meanwhile, foreigners and individuals have been buying continuously since the opening, purchasing 50.8 billion KRW and 131.8 billion KRW, respectively.

Many sectors are in decline. Chemicals had the largest drop at -2.12%, followed by medical & precision instruments (-1.40%), metals (-1.32%), and machinery & equipment (-1.32%). Meanwhile, telecommunication services (1.58%) and telecommunication equipment (1.36%) have maintained their early session gains.

Among the top 10 market capitalization stocks, SK Materials (2.9%) and KMw (2.8%) continue their upward trend. Conversely, Seegene (-4.1%) and Alteogen (-2.3%) fell.

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