KOSPI Reverses to Decline... Foreigners and Institutions Strongly Net Sell

On the 23rd, with the KOSPI index starting higher buoyed by the positive momentum in the US stock market, dealers are working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Junho] On the 23rd, the KOSPI started higher but reversed to a decline after 10 a.m.

Despite individuals' net buying intentions, it is unable to overcome the net selling by foreigners and institutions.

As of 11:04 a.m. that day, the KOSPI was at 3,028.23, down 0.24% from the previous closing price. Individuals showed a net buying intention of 258.9 billion KRW, but foreigners and institutions showed net selling intentions of 135.4 billion KRW and 121.3 billion KRW respectively, exerting downward pressure on the index.

By sector, the Paper & Wood sector rose 2.83%. Daeyoung Packaging and Shinpung Paper led the sector's rise with gains exceeding 10%. The Construction sector followed with a 2.74% increase. Large construction stocks such as Hyundai Construction, GS Construction, and Daewoo Construction rose sharply.

Top market capitalization stocks are relatively weak. Samsung Electronics rose 0.24% to 82,200 KRW, and Samsung Biologics traded up 0.84% at 711,000 KRW. Kakao also showed a 0.1% increase.

The KOSDAQ is also declining, down 0.10% to 954.39. While individuals engaged in net buying of 78.7 billion KRW, foreigners and institutions drove the index down with net selling of 3 billion KRW and 48.5 billion KRW respectively.

By sector, Other Manufacturing, Non-metallic, Pharmaceuticals, and New Growth Companies showed gains in the 1% range. Textiles, Distribution, Other Services, and Telecommunications Equipment also showed upward trends.

Among the top market capitalization stocks, pharmaceutical stocks stand out with strength. Celltrion Healthcare rose 1.17%, Celltrion Pharm 0.74%, Alteogen 1.87%, and Seegene 5.27%.

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