KOSPI Turns Down Amid Foreign and Institutional Selling

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 10th, the KOSPI reversed from an early rise to a decline due to simultaneous selling pressure from foreigners and institutions.

As of 10:18 AM, the KOSPI stood at 3,078.31, down 6.36 points (0.21%) from the previous trading day. The index opened at 3,088.13, up 3.46 points (0.11%) from the previous day, before turning downward.

By investor type, foreigners and institutions sold a net 70.6 billion KRW and 150.9 billion KRW respectively, pulling the index down. Individuals were the sole net buyers, purchasing 214.8 billion KRW.

Among the top market capitalization stocks, performance was mixed. Samsung Electronics fell 0.85% to 82,000 KRW compared to the previous day. LG Chem (-1.64%) and Samsung Biologics (-0.12%) also declined. Meanwhile, NAVER (0.84%) and Samsung SDI (0.13%) rose.

At the same time, the KOSDAQ was trading at 953.27, down 4.58 points (0.48%) from the previous day. The index started at 958.45, up 0.60 points (0.06%), before turning downward early in the session.

By investor type, individuals bought a net 139.2 billion KRW, while foreigners and institutions sold net 80.9 billion KRW and 43.7 billion KRW respectively.

Among the top market capitalization stocks, most were declining. Celltrion Healthcare (-0.21%), Celltrion Pharm (-0.98%), Seegene (-0.57%), and Alteogen (-1.19%) fell. Only Kakao Games was rising, up 2.03%.

The domestic stock market is expected to show a sideways trend with little volatility for the time being. Yeom Dongchan, a researcher at Ebest Investment & Securities, said, "Today's market is expected to have low volatility due to low trading volume."

Jeong Inji, a researcher at Yuanta Securities, stated, "The domestic stock market faces pressure from the rapid rise in early January and the inability of individuals to actively buy, while foreigners continue to sell, creating supply-demand burdens. For the time being, the domestic market is expected to continue a mild correction or sideways movement."

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