Foreigners and Institutions Sell... KOSPI Drops Over 1% in Early Trading

KOSDAQ Also Shows Early Session Decline of Over 1%

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI is falling in early trading due to selling pressure from foreigners and institutions. The KOSDAQ has fallen below the 1000-point mark again.

On the 8th, the KOSPI opened at 2965.36, down 0.13% (3.91 points) from the previous day. As of 9:34 a.m., it dropped to 2931.85, showing a decline of over 1%.

Selling pressure from foreigners and institutions is strong. Foreigners and institutions sold a net 37.5 billion KRW and 158.4 billion KRW, respectively. Individuals bought a net 192.5 billion KRW.

Most sectors declined. Pharmaceuticals had the largest drop at 4.35%. This was followed by Medical Precision (-3.18%), Banks (-2.69%), Financials (-1.52%), and Steel & Metals (-1.15%). Textile & Apparel (1.54%), Transportation & Warehousing (1.38%), Electric & Gas Utilities (0.93%), Telecommunications (0.18%), and Distribution (0.04%) rose.

All of the top 10 market capitalization stocks except Kia fell. Celltrion had the largest decline at 5.50%. This was followed by Samsung Biologics (-3.82%), Kakao (-2.72%), SK Hynix (-2.34%), LG Chem (-2.29%), Samsung SDI (-1.46%), Hyundai Motor (-0.93%), NAVER (-0.49%), and Samsung Electronics (-0.28%). Kia rose 0.11%.

The KOSDAQ opened at 999.08, down 0.23% (2.27 points) from the previous day. Although the closing price on the 5th was 1001.35, it fell below the 1000-point level as soon as trading began. It also dropped to 988.96 at 9:34 a.m.

Selling pressure from foreigners and institutions led to the index decline. Foreigners and institutions sold a net 27.2 billion KRW and 29.7 billion KRW, respectively. Individuals bought a net 62.4 billion KRW.

Almost all sectors declined. Distribution had the largest drop at 3.60%. This was followed by Pharmaceuticals (-3.48%), Transportation Equipment & Parts (-1.92%), Manufacturing (-1.43%), and Other Manufacturing (-1.25%). IT Components (0.98%), Telecommunications Equipment (0.98%), General Electric & Electronics (0.73%), Construction (0.68%), and Broadcasting Services (0.09%) rose.

Many of the top 10 market capitalization stocks showed weakness. Celltrion Pharm’s decline was the largest at 6.50%. This was followed by Celltrion Healthcare (-6.47%), HL Biotech (-3.89%), SK Materials (-2.42%), Kakao Games (-1.63%), and Pearl Abyss (-0.64%). L&F (3.54%), Wemade (3.45%), EcoPro BM (2.16%), and CJ ENM (1.31%) rose.

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