KOSPI Closes Lower Amid 16 Trillion Won Sell-Off by Foreign and Institutional Investors... SK바사 Fails to Achieve Double Upper Limit Opening

[Asia Economy Reporter Park Jihwan] On the 19th, the KOSPI closed slightly lower due to the sharp rise in U.S. Treasury yields. The surge in bond yields negatively affected investor sentiment, leading foreigners and institutions to sell a combined 1.5898 trillion KRW, pulling the index down. The KOSDAQ, which had been declining throughout the early session, reversed to close higher. SK Bioscience, on its second day of listing, failed to achieve the anticipated 'ttasangssang' and closed lower.

On this day, the KOSPI closed at 3,039.53, down 26.48 points (0.86%) from the previous trading day. The index opened at 3,063.01, down 3.00 points (0.10%) from the previous close, and maintained a weak trend. It fell more than 1% in the early session but narrowed losses somewhat in the afternoon.

On the KOSPI, foreigners and institutions sold shares worth about 1.59 trillion KRW, dragging the index down. Foreigners and institutions net sold 587.5 billion KRW and 1.023 trillion KRW, respectively. In contrast, individual investors were the sole net buyers on the KOSPI, purchasing 1.606 trillion KRW.

Among the top 10 stocks by market capitalization, all declined in unison. LG Chem recorded the largest drop, falling 3.60% to 830,000 KRW compared to the previous day. SK Hynix (-2.82%), Samsung SDI (-0.15%), Kakao (-1.10%), Celltrion (-1.71%), and Samsung Electronics (-1.21%) also declined. SK Bioscience, on its second day of listing, failed to achieve the expected 'ttasangssang' (starting at double the initial price followed by two consecutive days of upper price limits) and closed down 1.48%.

On this day, the KOSDAQ showed a decline of over 1% in the early session but turned to an upward trend in the afternoon, closing 2.28 points (0.24%) higher at 952.11. Individuals and institutions net sold 50.9 billion KRW and 35.5 billion KRW, respectively. Meanwhile, foreigners were net buyers of 89.1 billion KRW.

Among the top market cap stocks, performances were mixed. Alteogen (1.56%), Kakao Games (2.49%), and EcoPro BM (1.33%) rose. Seegene (-1.41%), Celltrion Healthcare (-0.24%), and Celltrion Pharm (-1.33%) showed weakness.

Jeong Inji, a researcher at Yuanta Securities, commented, "When the economy improves, interest rates inevitably face upward pressure. The current stock market trend appears to be in a noise phase. While attempts to raise stock prices will continue in the domestic market for the time being, the likelihood of a sharp price surge as in the past seems low."

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