Foreigners and Institutions' 'Palja'... Widening Decline in KOSPI

KOSDAQ Shows Mixed Trends... Drops to 1050 Level

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI's decline is deepening due to selling pressure from foreigners and institutions.

As of 1:46 PM on the 7th, the KOSPI recorded 3,179.57, down 0.74% (23.76 points) from the previous day. It even dropped to 3,176.81 at 1:01 PM that day.

Selling pressure from foreigners and institutions is strong. Foreigners and institutions net sold 261.3 billion KRW and 200.8 billion KRW, respectively. Individuals net bought 472.7 billion KRW.

Almost all sectors declined. The banking sector had the largest drop at 3.91%. This was followed by services (-1.42%), electrical and electronics (-1.25%), finance (-1.17%), and telecommunications (-0.99%). On the other hand, steel and metals (2.34%), textiles and apparel (1.29%), non-metallic minerals (0.75%), chemicals (0.69%), and machinery (0.24%) rose.

Most of the top 10 stocks by market capitalization fell. KakaoBank had the largest decline at 4.78%. This was followed by NAVER (-2.20%), Samsung Electronics (-1.68%), Hyundai Motor (-1.63%), SK Hynix (-1.42%), Kakao (-1.29%), and Samsung Biologics (-0.63%). Samsung SDI (0.78%), LG Chem (0.53%), and Celltrion (0.18%) rose.

At the same time, the KOSDAQ recorded 1,051.91, down 0.10% (1.05 points) from the previous day. The KOSDAQ, which started the day higher, showed mixed trends with fluctuations. It dropped to 1,050.27 at 1:32 PM but then rebounded.

Selling pressure from foreigners and institutions led to the index decline. Foreigners and institutions net sold 43.0 billion KRW and 34.3 billion KRW, respectively. Individuals net bought 81.3 billion KRW.

Sector indices were mixed. The internet sector had the largest decline at 1.37%. This was followed by textiles and apparel (-1.36%), digital content (-1.12%), semiconductors (-1.04%), and publishing and media replication (-0.92%). Meanwhile, non-metallics (2.65%), paper and wood (2.34%), broadcasting services (1.83%), general electrical and electronics (1.78%), and transportation (1.40%) rose.

The top 10 stocks by market capitalization also showed mixed results. L&F had the largest gain at 7.35%. This was followed by EcoPro BM (5.62%), HL Biopharma (3.22%), Celltrion Pharm (0.44%), and Celltrion Healthcare (0.26%). Meanwhile, Seegene (-1.98%), Alteogen (-1.63%), Kakao Games (-1.16%), Pearl Abyss (-0.93%), and SK Materials (-0.68%) declined.

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