"Avoid Capital Gains Tax" Individual Sells 900 Billion Won on 28th... Foreigners and Institutions Buy to Defend 2800 Level

[Asia Economy Reporter Oh Ju-yeon] On the 28th, the KOSPI closed slightly higher above the 2800 level. During the session, it surpassed the 2830 mark, setting a new all-time high again, but as the market approached closing, individual investors sold off shares to avoid major shareholder capital gains tax requirements, returning most of the intraday gains. On the other hand, foreigners and institutions increased their accumulation, defending against the index decline. The KOSDAQ index, which heavily depends on individual investor demand, started higher due to foreign and institutional buying but closed lower.

On this day, the KOSPI closed at 2808.60, up 0.06% from the previous trading day. While individuals sold shares worth 930.8 billion KRW, pulling the index down, foreigners and institutions bought shares worth 47.1 billion KRW and 853.6 billion KRW respectively, defending against the index decline.

Among the top market capitalization stocks, Samsung Electronics (1.16%) and Hyundai Motor (1.34%) rose, but SK Hynix (-2.12%), LG Chem (-0.49%), Samsung Biologics (-0.63%), and Celltrion (-4.03%) declined.

The KOSDAQ index closed at 927.00, down 0.18% from the previous trading day. Individuals net sold shares worth 873.4 billion KRW, while foreigners and institutions net bought shares worth 277.0 billion KRW and 641.5 billion KRW respectively.

Among the top market capitalization stocks, Celltrion Healthcare (-4.46%), Seegene (-5.81%), and HL Biopharma (-2.02%) declined, while Celltrion Pharm (7.21%), SK Materials (7.23%), and Pearl Abyss (4.28%) rose.

Lee Kyung-min, a researcher at Daishin Securities, analyzed, "The KOSPI maintained the 2800 level supported by net buying from institutions (mainly financial investment) ahead of tomorrow's ex-dividend date. Although individual tax-avoidance selling has appeared for three consecutive trading days, financial investment funds continue to flow in."

Lee added, "However, the positive factors and expectations that have driven the global financial market's rise so far have materialized, weakening their influence as a driving force for further gains. The deepening global COVID-19 pandemic, spread of variant viruses, poor economic indicators, and concerns over Q4 earnings may also dampen investor sentiment."

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