Individuals and Institutions 'Selling' vs Foreigners 'Buying'... Exploring Direction of KOSPI and KOSDAQ

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] The domestic stock market is continuing to fluctuate slightly as it searches for direction. While individuals and institutions are showing a selling bias, foreigners are the only ones with a buying bias. The KOSPI and KOSDAQ, which each surpassed the 3200 and 1000 points during the session, are currently hovering around 3180 and 990 points, respectively.

As of 1:26 PM on the 29th, the KOSPI is up 0.18% from the previous day at 3187.24. After reaching the 3200 level on the 26th, the KOSPI maintained the 3200 range for two consecutive trading days but has been declining since the 27th. At the same time, the KOSDAQ is down 0.30% at 995.30. Having entered the 1000-point range on the 12th, the KOSDAQ maintained it for 12 consecutive trading days but appears to be slowing down due to short-selling issues.

With the resumption of short selling and concerns about market adjustments, individual investors are showing a selling bias. In the KOSPI market, individuals are net sellers of 229.3 billion KRW. In the KOSDAQ market, they are net buyers of 75.3 billion KRW. Foreigners are net buyers of 243.8 billion KRW and 2.5 billion KRW in the two markets, respectively. Institutions are net sellers of 1 billion KRW and 65.3 billion KRW in the two markets, respectively.

Looking at the KOSPI sector status, the steel and metal sector (+2.89%) stands out with gains, along with transportation and warehousing (+1.47%) and construction (+0.95%). On the other hand, sectors such as pharmaceuticals (-0.56%) and medical precision (-0.18%) are relatively declining.

Examining the KOSDAQ sector status, the transportation sector (+1.34%) shows notable gains, along with lodging and food services (+0.97%) and IT S/W & SVC (+0.80%). Conversely, mining (0.00%) and other services (-0.72%) are on the decline.

Jeong In-ji, a researcher at Yuanta Securities, stated, "After the KOSPI attempted to break through the 3200 level on the 20th, it went through a short-term correction and then rose again, but the rise was limited around the 3220 level. The previous January high range of 3200?3260 is expected to be a very strong resistance zone, so it is natural that the price cannot surpass this resistance."

He added, "It is judged that the market is likely to continue a directionless trend for the time being. However, if a correction phase proceeds, 3150 or 3100 will be important short-term support levels, and ultimately, the market must break below the 60-day moving average and confirm this moving average as resistance to be considered entering a mid- to long-term correction phase."

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