KOSPI Continues to Decline... KOSDAQ Reverses to Rise

[Asia Economy Reporter Hwang Junho] On the 6th, the KOSPI is showing a downward trend, pressured by concentrated selling from institutional investors. In contrast, the KOSDAQ has reversed to an upward trend.

As of 2 PM on the day, the KOSPI is trading at 3,265.77, down 0.32% (10.36 points). Following foreigners who are net buyers with 189.7 billion KRW, individuals have also stepped in with net purchases worth 119.2 billion KRW. However, the index is falling as institutions are net sellers with 297.1 billion KRW. Among all listed stocks, 513 are declining. Only 327 stocks are rising, while 74 stocks remain unchanged.

Top market capitalization stocks are also unable to avoid the downward trend. Samsung Electronics, which recently surpassed 80,000 KRW per share, raising expectations, is trading down 0.73% at 81,500 KRW. This follows the decline seen the previous day. Samsung Electronics began rising (1.02%) from the 2nd of this month, reaching the 80,000 KRW level (closing price of 81,400 KRW) on the 3rd, but has been on a downward path since the 5th.

SK Hynix is also declining for the second consecutive trading day following the previous day's 0.83% drop, with the decline widening to 2.08% today. Kakao, which announced its earnings today, is trading down 2.01% at 146,000 KRW. Kakao reported that its Q2 sales and operating profit increased by 42% and 66%, respectively, reaching 1.3522 trillion KRW and 162.6 billion KRW. While sales met market expectations, operating profit fell short.

Celltrion is trading up 0.56% at 270,500 KRW, buoyed by the pharmaceutical sector's upward momentum. Among KOSPI sectors, the pharmaceutical sector showed the largest gain with a 1.58% rise. Following it, machinery, transportation equipment, non-metallic minerals, and electric gas sectors also showed gains.

At the same time, the KOSDAQ is showing mixed trends. Currently, it is trading at 1,058.56, down 0.09% from the previous day, but after 2:31 PM, it reversed to an increase of 0.04%, reaching 1,059.95. Foreign investors, who had been seeking opportunities in the KOSDAQ market, are net sellers with 83.5 billion KRW, and institutions are also net sellers with 75.2 billion KRW. Amid this, only individuals are showing net buying worth 172.8 billion KRW.

Among the top market capitalization stocks in KOSDAQ, the pharmaceutical sector's upward trend is prominent. Alteogen, a research and development company related to biosimilars (equivalent biopharmaceuticals) and biobetters (improved biopharmaceuticals), is currently trading up 10.42% at 90,100 KRW. Following it, Celltrion Healthcare is up 0.26% at 116,500 KRW, and Celltrion Pharm is up 0.07% at 146,300 KRW.

Shinhan Investment Corp.'s domestic equities team analyzed the market today, stating, "The KOSPI initially maintained a preference for risk assets due to favorable U.S. economic indicators and a strong Q2 earnings season this year, but it turned downward as institutional selling intensified."

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