Foreigners' 'Lion Switch' Maintains KOSPI at 3100 and KOSDAQ at 960
[Asia Economy Reporter Lee Seon-ae] Foreign investors, who were 'selling' in the early session, have switched to 'buying.' There is a tug-of-war between individual net buying and institutional selling.
As of 1:30 PM on the 3rd, the KOSPI is up 0.87% at 3123.73. The KOSPI started the day around the 3100 level, dropped to the 3090 level during the session, but is now climbing again due to net buying by individuals and foreigners.
Individuals and foreigners are net buying 4,088 billion KRW and 215.2 billion KRW respectively, while institutions alone are net selling 649.1 billion KRW.
Top market capitalization stocks show mixed trends. Samsung Electronics and Celltrion are declining, while SK Hynix, LG Chem, and NAVER are rising. In particular, Hyundai Motor-related group stocks are rising together, supported positively by rumors of Apple Car collaboration and increased domestic and international automobile sales.
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The KOSDAQ is slightly up 0.41% at 967.70, showing a firm tone. Only individuals are net buying 199.6 billion KRW. Foreigners and institutions are net selling 38.1 billion KRW and 117.2 billion KRW respectively. Celltrion Healthcare and Celltrion Pharm are declining, while HL Biopharma, Seegene, and EcoPro BM are rising.
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