Despite Individual Net Purchases of 1.9 Trillion Won... KOSPI Falls Below 3,000 Level

KOSPI Closes Down 1.7%, KOSDAQ Down 2.5%

On the 28th, employees are working in the dealing room at the Myeongdong Hana Bank headquarters in Jung-gu, Seoul.
[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI fell back below the 3,000 mark in closing price terms for the first time in seven trading days. Although individual investors continued net buying close to 2 trillion won, the index declined due to selling pressure from foreigners and institutions.

On the 28th, the KOSPI closed at 3,069.05, down 1.71% (53.51 points) from the previous day. It started the day slightly lower at 3,114.98 but began to fall immediately after the market opened. Around 9:31 a.m., it dropped to 3,046.97. It then rebounded to 3,102.05 around 10:55 a.m. but soon turned downward again.

Foreigners and institutions net sold 1.5626 trillion won and 382.4 billion won, respectively. Although individuals net bought 1.9396 trillion won, it was not enough to prevent the index from falling.

Almost all sectors declined. The steel and metal sector saw the largest drop at -2.99%. This was followed by distribution (-2.88%), electricity and gas (-2.65%), and electrical and electronics (-2.50%). Only paper and wood (1.92%) and services (0.20%) rose.

Most of the top 10 market capitalization stocks also fell. SK Hynix had the largest decline at -4.2%, followed by Hyundai Motor (-2.8%), Samsung SDI (-2.7%), Samsung Electronics (-2.2%), Kia Motors (-2.0%), Kakao (-1.5%), and Samsung Biologics (-1.3%). NAVER (3.9%), Celltrion (1.6%), and LG Chem (1.0%) rose.

The KOSDAQ, which had briefly surpassed the 1,000-point threshold, also continued its downward trend. It closed at 961.23, down 2.50% (24.69 points) from the previous day. Like the KOSPI, it started slightly lower and then plunged. It recovered to 976.67 around 10:30 a.m. but soon fell again to close lower.

Foreigners and institutions were also prominent sellers here, net selling 193.6 billion won and 128.3 billion won, respectively. Individuals net bought 366 billion won.

All sectors declined. The telecommunications services sector had the largest drop at -6.06%, followed by communication broadcasting services (-4.10%), semiconductors (-3.65%), and broadcasting services (-3.57%).

Among the top 10 market cap stocks, all fell except for Pearl Abyss (1.1%). CJ ENM (-4.4%), Alteogen (-4.0%), EcoPro BM (-4.0%), SK Materials (-3.7%), Celltrion Pharm (-3.6%), Celltrion Healthcare (-2.2%), and Kakao Games (-1.9%) followed.

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