KOSPI Falls Below 3200 Due to Net Selling by Foreigners and Institutions... KakaoBank Plummets Over 6%

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The KOSPI fell below the '3200 level' in early trading due to simultaneous net selling by foreigners and institutions.

On the 2nd, as of 9:20 a.m., the KOSPI stood at 3,195.16, down 11.86 points (-0.37%) from the previous trading day. The index started at 3,198.03, 8.99 points lower than the previous close, and has been fluctuating around the 3200 level.

By investor type, individuals are net buyers with 228.3 billion KRW. In contrast, foreigners and institutions are net sellers with 145.8 billion KRW and 81.3 billion KRW, respectively.

Most of the top 10 market capitalization stocks are in decline. Major stocks such as Samsung Electronics (-0.39%), SK Hynix (-0.93%), NAVER (-0.45%), and Samsung Biologics (-0.94%) fell. Meanwhile, Kakao, involved in a block deal worth about 1 trillion KRW, rose alone by 0.65%. KakaoBank, which announced a block deal (large volume trading outside regular hours) worth 1 trillion KRW the previous day, plunged 6.87%.

At the same time, the KOSDAQ also dropped 0.76 points (-0.07%) to 1,045.22.

Individuals are defending the index with net purchases of 102.2 billion KRW. Meanwhile, foreigners and institutions are net sellers of 94.2 billion KRW and 8.9 billion KRW, respectively.

Among the top 10 market capitalization stocks, price movements were mixed. HLB had the largest gain at 2.81%, followed by Pearl Abyss (2.57%) and Kakao Games (0.38%). On the other hand, Celltrion Healthcare (-0.74%), EcoPro BM (-1.85%), Celltrion Pharm (-0.82%), L&F (-2.33%), Alteogen (-1.28%), and Seegene (-0.75%) declined.

Han Ji-young, a researcher at Kiwoom Securities, forecasted, "The Korean stock market is expected to show limited price movements due to some profit-taking after three consecutive days of gains and cautious sentiment ahead of U.S. employment data."

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