Foreigners' 'Palja'... KOSPI Starts Down 3116 Points

KOSDAQ Starts Lower Amid Foreign and Institutional Selling
Pearl Abyss Shows Early Strength with Over 11% Gain

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI opened lower due to foreign selling pressure. It briefly fell below the 3110 level in the early session.

On the 27th, the KOSPI started the session at 3116.29, down 0.39% (12.24 points) from the previous day. It even recorded 3109.99 at 9:01 AM.

Foreign selling pressure is strong. On this day, foreigners and individuals net sold 59.8 billion KRW and 2.3 billion KRW respectively. Institutions net bought 63.1 billion KRW.

Almost all sectors declined. The steel and metal sector had the largest drop at 1.32%. This was followed by transportation equipment (-0.78%), telecommunications (-0.60%), machinery (-0.57%), and paper and wood (-0.55%). On the upside were textiles and apparel (0.98%), securities (0.47%), banking (0.29%), and electric and gas utilities (0.18%).

Most of the top 10 market capitalization stocks fell. Kakao had the largest decline at 1.00%. This was followed by SK Hynix (-0.96%), Hyundai Motor (-0.95%), LG Chem (-0.76%), NAVER (-0.71%), Samsung Biologics (-0.63%), and Samsung Electronics (-0.27%). KakaoBank (0.48%) and Samsung SDI (0.13%) rose. Celltrion remained flat.

The KOSDAQ opened at 1017.36, down 0.30% (3.08 points) from the previous day. It also dropped to 1014.10 at 9:05 AM.

Foreign and institutional selling led to the index decline. Foreigners and institutions net sold 23.9 billion KRW and 17.8 billion KRW respectively. Individuals net bought 42.5 billion KRW.

Many sectors showed weakness. Transportation had the largest drop at 0.93%, followed by textiles and apparel (-0.86%), computer services (-0.77%), internet (-0.67%), and software (-0.61%). On the upside were paper and wood (1.49%), digital content (1.45%), non-metallic minerals (0.63%), transportation equipment and parts (0.54%), and metals (0.39%).

Most of the top 10 market cap stocks declined. Kakao Games had the largest drop at 3.40%, followed by Alteogen (-1.19%), L&F (-0.80%), Celltrion Pharm (-0.59%), Celltrion Healthcare (-0.57%), and EcoPro BM (-0.34%). Pearl Abyss (11.04%), HLB (4.53%), and SK Materials (0.05%) rose. Seegene remained flat.

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