Foreigners and Institutions Net Sell, KOSPI Plunges Over 2% in Afternoon

Individual Net Buying of 336 Billion KRW
KOSDAQ Falls Over 1%... Drops Below 1000 Points

[Asia Economy Reporter Minji Lee] The KOSPI index is extending its decline in the afternoon due to net selling by foreigners and institutions.

On the 26th, when the KOSPI index started lower, dealers were working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

As of 1:54 PM on the 26th, the KOSPI stood at 3,134.15, down 2.33% (74.84 points) from the previous trading day. The KOSPI opened at 3,203.96, down 0.16% (5.03 points) from the previous day, and has been widening its losses since.

The downtrend is deepening amid net selling by foreigners and institutions. Currently, foreigners and institutions have sold stocks worth 1.5595 trillion KRW and 1.7952 trillion KRW respectively, while individual investors have been the sole buyers, purchasing stocks worth 3.3663 trillion KRW.

Among the top market capitalization stocks, Samsung Electronics traded down 3% at 86,700 KRW. Other stocks also declined, including SK Hynix (-4.44%), LG Chem (-3.13%), Naver (-2.72%), Samsung SDI (-0.51%), and Hyundai Motor (-2.88%). On the other hand, Samsung Biologics and Celltrion rose by 2.1% and 1%, respectively.

At the same time, the KOSDAQ index stood at 989.32, down 1% (9.98 points). It started the day at 10,000.00, up 0.07% (0.70 points) from the previous day, but fell below the 1,000-point mark due to net selling by foreigners and institutions. Regarding investor trends, foreigners and institutions bought stocks worth 223.5 billion KRW and 124.5 billion KRW respectively, while individual investors alone purchased stocks worth 382.3 billion KRW.

Among the top market capitalization stocks, Celltrion Pharm showed an intraday rise of 2.01% to 188,000 KRW. Other stocks such as Seegene (0.4%), Pearl Abyss (0.65%), and Wonik IPS (0.76%) also increased.

Seosangyoung, a researcher at Kiwoom Securities, analyzed, “As the spread of the mutated COVID-19 virus and issues related to the economy and border closures are drawing attention, selling pressure is emerging mainly from foreigners and institutions. News that the Biden administration’s approximately $2 trillion additional stimulus package will be postponed to February also contributed to the selling pressure.”

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