Due to Foreign and Institutional Selling... KOSPI Falls Below 3200 Early in the Session

KOSDAQ Starts Rising... Turns Down During Session

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI index fell below the 3200 level in early trading due to selling pressure from foreigners and institutions.

On the 7th, the KOSPI opened at 3200.07, down 0.10% (3.26 points) from the previous day. At 9:31 a.m., it dropped to 3190.47, falling below the 3200 mark.

Foreigners and institutions were heavy sellers. Foreigners and institutions net sold 61.1 billion KRW and 63.8 billion KRW, respectively. Individuals net bought 119 billion KRW.

Almost all sectors declined. The banking sector had the largest drop at 1.06%. This was followed by electrical and electronics (-0.87%), services (-0.75%), insurance (-0.68%), and finance (-0.42%). On the other hand, steel and metals (2.63%), machinery (0.61%), chemicals (0.31%), construction (0.18%), and pharmaceuticals (0.08%) rose.

Most of the top 10 market capitalization stocks fell. KakaoBank had the largest decline at 1.29%, followed by Samsung Electronics (-1.16%), Hyundai Motor (-0.93%), Kakao (-0.64%), NAVER (-0.55%), SK Hynix (-0.47%), and Samsung Biologics (-0.42%). Samsung SDI (1.17%), LG Chem (0.27%), and Celltrion (0.18%) rose.

The KOSDAQ opened at 1054.03, up 0.10% (1.07 points) from the previous day, but turned downward after 9:22 a.m.

Selling pressure from foreigners and institutions led to the index decline. Foreigners and institutions net sold 42.5 billion KRW and 10.3 billion KRW, respectively. Individuals net bought 55.8 billion KRW.

Sector indices showed mixed results. The transportation equipment and parts sector had the largest decline at 0.77%, followed by internet (-0.70%), information devices (-0.66%), entertainment and culture (-0.62%), and semiconductors (-0.55%). Meanwhile, paper and wood (1.24%), metals (1.19%), general electrical and electronics (0.87%), chemicals (0.80%), and other manufacturing (0.55%) rose.

Many of the top 10 market capitalization stocks showed strength. L&F had the largest gain at 3.54%, followed by Pearl Abyss (3.26%), EcoPro BM (3.08%), Alteogen (0.81%), Kakao Games (0.64%), Celltrion Pharm (0.25%), and Celltrion Healthcare (0.09%). HL Biotech (-0.77%), Seegene (-0.76%), and SK Materials (-0.05%) declined.

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