Foreigners Leaving Again, Institutions Selling Over 1 Trillion Won... KOSPI Closes Down at 3133

Individual Investors Bought 1.8 Trillion Won but Failed to Rebound... KOSDAQ Remains Quiet

On the 17th, employees are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul.
[Photo by Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI closed down about 1% compared to the previous day as foreign investors and institutions continued their selling spree. Although individuals net bought 1.8 trillion won worth of shares, it was not enough to prevent the index from falling.

On the 17th, the KOSPI closed at 3,133.74, down 0.93% (29.51 points) from the previous day. It started slightly lower at 3,162.95 but struggled to rebound throughout the trading session.

Foreigners and institutions showed prominent selling pressure, net selling 509.9 billion won and 1.3452 trillion won respectively. Foreign investors, who had been net buyers for three consecutive trading days, turned to net selling again on this day. This is interpreted as an effect of the sharp rise in U.S. Treasury yields. Institutional investors increased their selling volume to over 1 trillion won for the first time in seven trading days since the 4th (1.8357 trillion won). On the other hand, individuals net bought 1.8382 trillion won, the largest amount since 2.4704 trillion won on the 4th.

Many sectors declined. Transportation equipment (-2.7%), electrical and electronics (-1.53%), pharmaceuticals (-1.24%), and machinery (-1.18%) saw the largest drops. Meanwhile, paper and wood (5.14%), textiles and apparel (3.69%), and insurance (3.29%) rose.

The KOSDAQ closed at 979.77, up 0.21% (2.03 points) from the previous day. It started slightly higher at 977.93, dropped to 970.55, but remained steady around the 970 level without significant fluctuations.

Almost all of the top 10 market capitalization stocks declined. Kia Motors had the largest drop at -2.9%, followed by LG Chem (-2.1%), Samsung Electronics (-2.0%), SK Hynix (-1.8%), Hyundai Motor (-1.6%), Samsung Biologics (-1.2%), Celltrion (-1.0%), Kakao (-0.9%), and NAVER (-0.5%). Only Samsung SDI rose by 0.2%.

In the KOSDAQ market, foreigners and institutions also continued their selling streak, net selling 29.3 billion won and 79 billion won respectively. Conversely, individuals net bought 163.5 billion won.

Unlike the KOSPI, more sectors rose. The telecommunications services sector rose the most at 4.40%, followed by information devices (3.83%), agricultural broadcasting services (3.65%), internet (3.55%), and broadcasting services (3.42%), all rising over 3%. Meanwhile, transportation equipment and parts (-1.53%), digital content (-1.14%), and other services (-0.87%) declined.

Among the top 10 market cap stocks, SK Materials (3.7%), CJ ENM (1.5%), Seegene (1.1%), Celltrion Healthcare (0.4%), and Celltrion Pharm (0.3%) rose. On the other hand, Pearl Abyss (-8.1%), HLB (-6.0%), EcoPro BM (-2.0%), Kakao Games (-1.4%), and Alteogen (-0.1%) fell.

Seosangyoung, a researcher at Kiwoom Securities, explained, "Due to the expansion of foreign investors' futures selling, institutional investors also released program sales and foreign investors' spot sales, which widened the decline. Financials showed strength, while large-cap sectors such as electrical and electronics and transportation equipment declined, which is a notable feature."

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