Foreigners and Institutions Sell... KOSPI Falls in Early Trading

KOSDAQ Starts Down but Turns Up... Rises to 1056 Level

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI opened lower in early trading due to selling pressure from foreigners and institutions. Semiconductor-related stocks such as Samsung Electronics and SK Hynix continued to show weakness following the previous day.

On the 11th, the KOSPI started at 3,235.36, down 0.24% (7.83 points) from the previous trading day. Although it briefly turned upward in early trading, it resumed its downward trend from 9:33 a.m.

Selling by foreigners and institutions led to the index's decline. Foreigners and institutions net sold 272.4 billion KRW and 73.4 billion KRW, respectively. Individuals net bought 345.5 billion KRW.

Most sectors rose. The medical precision sector posted the largest gain at 5.50%. This was followed by banks (3.85%), machinery (1.75%), steel and metals (1.39%), and transportation and warehousing (1.39%). On the other hand, electricity and electronics (-0.84%), services (-0.34%), electric and gas utilities (-0.18%), manufacturing (-0.16%), and food and beverage (-0.09%) declined.

However, the stock price movements of the top 10 companies by market capitalization were mixed. SK Hynix recorded the largest drop at 3.11%, followed by Kakao (-0.68%), Samsung Electronics (-0.62%), and NAVER (-0.22%). KakaoBank (3.64%), Celltrion (1.67%), and LG Chem (0.59%) rose. Samsung Biologics, Samsung SDI, and Hyundai Motor remained flat.

The KOSDAQ opened at 1,050.48, down 0.15% (1.59 points) from the previous day but soon turned upward. As of 9:32 a.m., it rose to 1,056.48.

Individuals led the upward trend, net buying 87.1 billion KRW. Meanwhile, foreigners and institutions net sold 34.4 billion KRW and 45.6 billion KRW, respectively.

Almost all sectors rose. IT components posted the largest gain at 1.52%, followed by transportation (1.25%), computer services (1.05%), medical and precision instruments (1.05%), and information devices (0.84%). Conversely, broadcasting services (-0.31%), machinery and equipment (-0.29%), general electric and electronics (-0.29%), semiconductors (-0.25%), and telecommunications and broadcasting services (-0.21%) declined.

The stock prices of the top 10 companies by market capitalization were mixed. L&F posted the largest gain at 6.68%, followed by Celltrion Pharm (3.64%), SK Materials (2.78%), Celltrion Healthcare (2.03%), and Seegene (1.54%). Kakao Games (-2.27%), EcoPro BM (-1.09%), Alteogen (-0.94%), and Pearl Abyss (-0.85%) declined. HL Biopharma remained flat.

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