KOSPI Starts Lower Amid COVID-19 Spread Concerns... Foreigners and Institutions 'Sell'

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 19th, the domestic stock market started lower.

On that day, the KOSPI opened at 3,258.87, down 18.04 points (0.55%). The KOSDAQ started the session at 1,049.51, down 2.47 points (0.23%). As of 9:13 AM, the KOSPI further declined below the 3,250 level, standing at 3,247.12. The KOSDAQ was recorded at 1,048.50.

Foreigners and institutions' selling dominance is driving the index down. Foreigners showed net selling of 107.3 billion KRW and 10.8 billion KRW in the KOSPI and KOSDAQ markets, respectively. Institutions also sold about 99.0 billion KRW and 5.2 billion KRW in both markets. Only individuals are showing net buying dominance, with net purchases of 212.5 billion KRW and 24.2 billion KRW, respectively.

Looking at investor trends, foreigners and institutions are both selling, pushing the index down, while individuals alone are supporting the index decline by buying. Individuals are net buying 93.8 billion KRW, whereas foreigners and institutions are net selling 41.4 billion KRW and 43.3 billion KRW, respectively.

By sector in the KOSPI, most sectors are declining, including Steel & Metal (-1.19%), Machinery (-0.99%), and Services (-0.88%), while some sectors such as Medical Precision (+2.66%), Paper & Wood (+0.27%), and Pharmaceuticals (+0.12%) are showing strength.

By sector in the KOSDAQ, most sectors are also declining, including Broadcasting Services (-1.21%), Paper & Wood (-0.73%), and Semiconductors (-0.62%), while some sectors such as Distribution (+0.54%), Textiles & Apparel (+0.41%), and Telecommunications Equipment (+0.23%) are showing strength.

Kim Dae-jun, a researcher at Korea Investment & Securities, analyzed, "The KOSPI has not been able to surpass 3,300 since the 6th," adding, "The delta variant of COVID-19, which is spreading domestically and internationally, is acting as a factor weakening the upward momentum of the index."

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