KOSPI Closes in the 2970s, Decline Narrowed by Individual and Institutional Buying

KOSDAQ Recovers Near 900 Level

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI, which had fallen to the 2920 level for the first time since the beginning of the year, rebounded to the 2970 level. While foreigners continued their selling trend, buying by individuals and institutions appears to have reduced the decline.

On the 9th, the KOSPI closed at 2976.12, down 0.67% (19.99 points) from the previous day. It widened its losses from the opening and dropped to 2929.36 at 11:01 a.m., then slightly rebounded before closing. On this day, the KOSPI fell to the 2920 level for the first time since January 5.

From early in the session until the morning, foreigners increased their selling, leading the index decline. However, individuals and institutions maintained their buying, preventing a further drop. In the KOSPI market that day, foreigners net sold 642.3 billion KRW, while individuals and institutions net bought 351 billion KRW and 292.7 billion KRW, respectively.

Many sectors declined. Non-metallic minerals (-3.43%), transportation and warehousing (-3.22%), chemicals (-1.94%), and paper & wood (-1.84%) were among the biggest decliners. Conversely, construction (2.11%), telecommunications (1.73%), and insurance (1.41%) rose.

Most of the top 10 market capitalization stocks also fell. LG Chem had the largest drop at -3.2%. Following were Kakao (-2.8%), Samsung SDI (-2.1%), NAVER (-1.9%), Celltrion (-1.2%), Samsung Biologics (-1.2%), and Samsung Electronics (-0.7%). Kia Motors (0.8%), SK Hynix (0.7%), and Hyundai Motor (0.4%) rose.

At the same time, the KOSDAQ closed at 896.36, down 0.93% from the previous day. It started slightly down at 904.04 but broke below the 900 mark shortly after opening. Around 11 a.m., it even dropped to 877.84. The KOSDAQ falling to the 870 level was the first since November 27 of last year. Later, around 2:43 p.m., it briefly recovered above 900.

In the KOSDAQ market, foreigners and individuals led the index rebound. Foreigners net bought 90.8 billion KRW, and individuals net bought 0.5 billion KRW. Individual investors net bought over 88 billion KRW around 2 p.m. but then reduced their buying. Meanwhile, institutions net sold 81.8 billion KRW.

Almost all sectors declined. Information devices (-1.85%), distribution (-1.75%), publishing & media replication (-1.67%), and transportation (-1.59%) were among the losers. Paper & wood (3.07%) and computer services (0.76%) rose.

Among the top 10 market cap stocks, Alteogen had the largest drop at -3.7%. Following were Celltrion Pharm (-2.8%), Celltrion Healthcare (-2.3%), Kakao Games (-1.0%), and EcoPro BM (-0.6%). On the other hand, Seegene (4.8%), SK Materials (2.0%), HLB (0.4%), and Pearl Abyss (0.1%) rose. CJ ENM remained flat.

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