KOSPI Barely Holds at 2970 Amid Foreign and Institutional Selling Bombardment... Cheonseudak Also Collapses
[Asia Economy Reporter Park Jihwan] On the 29th, the KOSPI closed sharply lower as the 3000-point level was breached due to a selling spree by foreigners and institutions. The KOSDAQ also fell below the 1000-point mark.
On that day, the KOSPI closed at 2,970.68, down 38.87 points (1.29%) from the previous trading day. This marked the third consecutive day of decline. The index started trading at 3,025.67, up 16.12 points from the previous close, and showed a strong trend, rising to 3,030.17. However, it soon turned downward and maintained a sideways trend before the decline accelerated sharply near the end of the session.
By investor type, foreigners and institutions sold a net 806 billion KRW and 476.1 billion KRW respectively, pulling the index down. Individuals bought a net 1.2575 trillion KRW.
All of the top market capitalization stocks closed lower. In particular, Samsung Electronics and SK Hynix fell by 1.27% and 3.29%, respectively. Celltrion plunged more than 6.96%, dropping out of the top 10 in market capitalization rankings.
The KOSDAQ closed at 992.33, down 7.80 points (0.78%) from the previous day. This was the first time in four days since the 25th, when it closed at 994.31, that the KOSDAQ fell below the 1000-point level. The index opened at 1,004.91, up 4.78 points (0.48%) from the previous day, but soon turned bearish.
By investor type, foreigners bought a net 33.2 billion KRW. In contrast, institutions and individuals sold a net 12.6 billion KRW and 11.1 billion KRW, respectively.
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Among the top market capitalization stocks in the KOSDAQ, there were mixed movements. Wemade showed the largest gain, rising 14.18%. EcoPro BM (1.71%) and Kakao Games (1.40%) also showed upward trends. On the other hand, Celltrion Healthcare fell 7.33%, and Celltrion Pharm dropped 5.82%. HL Biopharma, SK Materials, and Pearl Abyss also declined by more than 1%.
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