Foreigner and Institution Dual Selling Causes KOSPI to 'Hesitate'

KOSPI Falls 0.78%... Drops to 3230 Level

On the 10th, employees are working in the dealing room at the Myeongdong Hana Bank headquarters in Jung-gu, Seoul.
[Photo by Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI fell nearly 1%, dropping to the 3230 level. The index appears to be stalling as foreign and institutional investors continue selling.

As of 1:48 PM on the 10th, the KOSPI stood at 3,235.81, down 0.75% from the previous day. After opening slightly higher, it reversed to a decline and fell to 3,232.46 at 1:37 PM.

The continuous selling pressure from foreign and institutional investors seems to have pulled the index down. At the same time, foreign investors and institutions sold 568.6 billion KRW and 435.1 billion KRW worth of stocks, respectively. Individual investors were net buyers, purchasing 1.3768 trillion KRW worth of stocks.

The KOSDAQ also dropped 0.98% compared to the previous day, closing at 1,049.65. It similarly opened slightly higher but widened its losses. Around 10:58 AM, it fell to 1,048.98, down 1.04% from the previous day.

Most sectors declined. The banking sector saw the largest drop at -8.08%, followed by food and beverages (-2.14%), non-metallic minerals (-2.07%), finance (-1.75%), and construction (-1.64%). Meanwhile, medical precision (5.76%), pharmaceuticals (5.10%), and securities (0.02%) sectors rose.

In the KOSDAQ market, foreign and institutional investors also showed strong selling pressure, net selling 158.1 billion KRW and 94.7 billion KRW, respectively. Conversely, individual investors were net buyers with 263.7 billion KRW.

Almost all sectors were in decline. The internet sector had the largest drop at -4.29%, followed by paper and wood (-2.48%), non-metallic (-2.06%), semiconductors (-1.97%), and construction (-1.84%). Only pharmaceuticals (0.27%) and medical precision instruments (0.22%) rose.

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