KOSPI Drops Below 3010 Due to Foreign and Institutional Selling... "Patience Needed Until Mid-Month"

[Asia Economy Reporter Ji-hwan Park] The KOSPI is showing a decline of over 1.5% due to simultaneous net selling by foreigners and institutions.

As of 2:02 PM on the 1st, the KOSPI is trading at 3,017.80, down 51.02 points (-1.66%) from the previous day.

By investor type, institutions and foreigners net sold 455.6 billion KRW and 310 billion KRW respectively. Foreigners initially showed net buying early in the session but switched to net selling. Only individuals net bought 751.8 billion KRW.

Among the top 10 market capitalization stocks, most showed weakness. SK Hynix (-2.91%), Samsung Electronics (-1.48%), NAVER (-1.68%), and most other stocks declined. Only Samsung Biologics showed a slight rise of 0.34%.

At the same time, the KOSDAQ is down 18.15 points (-1.81%) at 985.12. By investor type, institutions and foreigners net sold 33.2 billion KRW and 140.7 billion KRW respectively. Meanwhile, individuals net bought 184.1 billion KRW.

Among the top 10 market capitalization stocks, Celltrion Healthcare (-5.21%), Celltrion Pharm (-4.17%), and EcoPro BM (-2.91%) declined. On the other hand, Pearl Abyss (6.97%) and L&F (2.07%) showed strength.

Seok-hwan Kim, a researcher at Mirae Asset Securities, said, "The stock market appears to require patience until mid-month," adding, "The factors that caused the market weakness last month were varied, including the U.S. Federal Reserve’s monetary policy normalization, rising market interest rates, inflation concerns, and the China Evergrande Group issue, but none of these have been satisfactorily resolved yet."

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