KOSPI Falls Over 1%... KOSDAQ Drops Below 1000 Level

Foreign Institutions Net Sell... Individuals Net Buy Over 1 Trillion Won

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices fell by more than 1% and 2%, respectively, due to net selling by foreigners and institutions.

On the 28th, the KOSPI closed at 3,181.47, down 1.06% (33.95 points) from the previous trading day. The index opened at 3,217.21, up 0.06% (1.79 points) from the previous day, but quickly turned downward and slipped below the 3,200 level. Selling pressure was mainly from foreigners and institutions. Foreigners sold stocks worth 607.1 billion KRW, institutions sold 428.8 billion KRW worth, while individuals alone bought stocks worth 1.0604 trillion KRW.

By sector, transportation and warehousing (1.63%), banking (1.39%), textiles and apparel (0.68%), and financials (0.36%) performed relatively well. Shipping stocks such as HMM (6.7%) and Korea Line Corporation (2.5%) led the rise in the transportation and warehousing sector.

Among the top market capitalization stocks, Hyundai Motor showed an upward trend, rising 0.68% compared to the previous day. Meanwhile, Samsung Electronics (-0.97%), LG Chem (-0.11%), NAVER (-1.71%), Kakao (-1.65%), and Samsung SDI (-2.63%) declined. SK Hynix fell 3.7% despite reporting solid earnings.

On the same day, the KOSDAQ index closed at 998.27, down 2.23% (22.74 points) from the previous trading day. The index opened at 1,021.13, up 0.01% (0.12 points) from the previous day, but the decline widened, falling below the 1,000 mark for the first time in 12 trading days. In the KOSDAQ market as well, foreigners and institutions net sold stocks worth 150.7 billion KRW and 209.2 billion KRW, respectively. Individuals purchased stocks worth 392.5 billion KRW.

Top market capitalization stocks showed a downward trend. Celltrion Healthcare and Celltrion Pharm fell 3.1% and 2.7%, respectively, while Kakao Games (-1.25%), EcoPro BM (-3.94%), Pearl Abyss (-4.04%), and SK Materials (-5.35%) also declined.

Lee Kyung-min, a researcher at Daishin Securities, explained, “Investors are focusing on the results of the April FOMC while responding to the recently announced earnings of big tech companies. The rebound in the won-dollar exchange rate also appears to have strengthened the simultaneous selling of spot and futures by foreigners.”

He added, “With vague anxiety about the resumption of short selling on the 3rd of next month acting as a factor limiting the improvement of investor sentiment, investors should focus their interest on companies with solid fundamentals.”

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