Foreigners and Institutions' 'Joint Selling' Drives KOSPI and KOSDAQ Decline

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[Asia Economy Reporter Lee Seon-ae] On the 16th, the domestic stock market, which started higher, continued to show a weak trend in the afternoon. Although it started higher thanks to the rise in the New York stock market overnight, simultaneous selling by foreigners and institutions is driving the index down.

As of 1:51 PM, the KOSPI is down 0.47% at 3138.47, and the KOSDAQ is down 0.25% at 1040.19.

Simultaneous selling by foreigners and institutions is driving the index down. Foreigners are net sellers of 186.9 billion KRW and 169.3 billion KRW in the KOSPI and KOSDAQ markets, respectively. Institutions are also net sellers with 365.9 billion KRW and 91.7 billion KRW, respectively. Only individuals are net buyers alone, showing net purchases of approximately 418.1 billion KRW and 285.2 billion KRW, respectively.

Weak sectors in the KOSPI are Textile and Apparel (-1.58%), Electrical and Electronics (-1.53%), and Pharmaceuticals (-1.36%), while strong sectors are Electric and Gas (+2.43%), Construction (+1.28%), and Machinery (+0.82%). Weak sectors in the KOSDAQ are Information Technology (-1.88%), Medical and Precision Instruments (-1.58%), and Publishing and Media Reproduction (-1.45%), while strong sectors are Transportation Equipment and Parts (+1.55%), General Electrical and Electronics (+0.86%), and Paper and Wood (+0.76%).

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