KOSPI Ends Down 2% Amid Joint Selling by Institutions and Foreigners, Breaking Below '3100' Level

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] On the 15th, the KOSPI failed to hold the 3100 level amid simultaneous selling pressure from foreigners and institutions.

On that day, the KOSPI closed at 3,085.90, down 64.03 points (2.03%) from the previous trading day. The index opened at 3,153.84, up 3.91 points (0.12%) from the previous close, but turned bearish and widened its decline as time passed.

By investor type, individual investors defended the index with net purchases of 2.1285 trillion KRW. However, foreigners and institutions sold off, with net sales of 763.9 billion KRW and 1.406 trillion KRW respectively, pulling the index down.

Among the top 10 stocks by market capitalization, all stocks declined. Celltrion (-6.24%), which disclosed clinical trial results for its COVID-19 treatment, showed a notable decline following the previous day. Samsung Electronics (-1.67%), SK Hynix (-2.30%), and LG Chem (-2.77%) also fell. Large-cap stocks, including semiconductors that led the KOSPI's rise earlier this year, saw selling pressure from institutions and foreigners, resulting in declines.

The KOSDAQ closed at 964.44, down 15.85 points (1.62%) from the previous trading day. The index opened at 981.72, up 1.43 points (0.15%) from the previous close, but turned bearish.

Individuals made net purchases of 256 billion KRW, while foreigners and institutions made net sales of 143.1 billion KRW and 94.8 billion KRW respectively. Among the top market cap stocks, Celltrion Healthcare (-8.02%) and Celltrion Pharm (-9.51%) experienced large declines. SK Materials (0.46%) was the only stock among the top 10 to rise.

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