KOSPI Slightly Lower Amid Foreign Net Selling... Trading Around 3250 Level

Published 23 Jul.2021 09:20(KST)

Updated 22 Mar.2023 11:31(KST)

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[Asia Economy Reporter Minji Lee] The KOSPI is showing a slight decline amid net selling by foreign investors.

As of 9:11 a.m. on the 23rd, the KOSPI stood at 3,247.61, down 0.08% (2.60 points) from the previous trading day. The KOSPI opened at 3,253.44, up 0.10% (3.23 points) from the previous day, but then turned downward. Looking at investor trends, individual and institutional investors bought stocks worth 51.8 billion KRW and 6.1 billion KRW respectively, while foreign investors sold stocks worth 55.7 billion KRW alone.

Among the top market capitalization stocks, Samsung Electronics is down 0.38% from the previous day, trading at 79,400 KRW. SK Hynix (-0.42%), Hyundai Motor (-0.44%), and Celltrion (-0.19%) also declined. On the other hand, NAVER (0.68%), Samsung Biologics (0.11%), LG Chem (0.12%), and Samsung SDI (0.41%) rose.

The KOSDAQ index at the same time was at 1,053.18, up 0.28% (2.93 points) from the previous trading day. The KOSDAQ opened at 1,053.01, up 0.26% (2.76 points) from the previous day.

Regarding investor trends, individual investors alone bought stocks worth 55.5 billion KRW, while foreign and institutional investors sold stocks worth 39.2 billion KRW and 12.8 billion KRW respectively.

Among the top market capitalization stocks, Celltrion Healthcare and Kakao Games fell by 0.34% and 1.50% respectively. EcoPro BM (1.88%), Celltrion Pharm (0.27%), Pearl Abyss (0.38%), SK Materials (1.33%), and Seegene (0.13%) rose.

Seosangyoung, a researcher at Mirae Asset Securities, said, “The domestic stock market will start slightly positive and then digest selling pressure, leading to a market focused on individual stocks.” He added, “Despite ongoing debates about the peak of the economy and earnings in the U.S. stock market and the continuous increase in new COVID-19 cases, the strong performance of large tech stocks reporting earnings next week is positive for investor sentiment.”