KOSPI and KOSDAQ Start Higher...Only Institutions Buy Early, Foreigners Sell

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 23rd, the domestic stock market started higher. From the beginning of the session, only institutional investors are showing a net buying preference.

The KOSPI index opened at 3,086.81, up 26.30 points (0.86%), and the KOSDAQ index opened at 977.87, up 9.97 points (1.03%). As of 9:11 AM, the KOSPI stands at 3,074.34 and the KOSDAQ at 975.06.

Looking at trading trends by investor type, only institutions are net buyers. Institutions are net buying 78.2 billion KRW in the KOSPI market and 22.1 billion KRW in the KOSDAQ market. Individual investors are net sellers of 42.8 billion KRW in the KOSPI market but net buyers of 36.6 billion KRW in the KOSDAQ market. Foreign investors continue to be net sellers, offloading 31.9 billion KRW and 58.8 billion KRW in the KOSPI and KOSDAQ markets, respectively.

By sector in the KOSPI, telecommunications (+1.29%), steel and metals (+1.19%), and finance (+1.13%) are showing strength, while chemicals (-0.20%) are declining.

In the KOSDAQ sectors, transportation (+1.66%), textiles and apparel (+1.37%), and general electrical and electronics (+1.36%) are performing strongly.

Kim Dae-jun, a researcher at Korea Investment & Securities, stated, "At this moment, the market sentiment is not likely to change rapidly. It is a time to look for various factors that can restore risk asset preference, and we need to watch closely whether any favorable variables emerge ahead of the Jackson Hole Symposium."

He added, "We need to monitor the spread of the Delta variant in the U.S., vaccination speed, U.S. PMI and durable goods orders, and the Bank of Korea's monetary policy rate decision. If better-than-expected results come from these areas, market sentiment could improve. However, if not, the sluggish atmosphere may continue, so it is necessary to avoid aggressive responses and refine strategies until the outcomes of these factors are confirmed."

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