Foreigners and Institutions Sell Off... KOSPI Falls to 2946 Level

Early session saw a decline of over 1%, but the drop eased somewhat in the afternoon

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI fell due to selling pressure from foreigners and institutions. However, the decline, which was over 1%, has somewhat narrowed in the afternoon.

As of 1:58 PM on the 8th, the KOSPI stood at 2946.99, down 0.75% (22.28 points) from the previous day. It had dropped to 2930.90 at 10 AM that day.

Selling pressure from foreigners and institutions was strong. Foreigners and institutions net sold 149 billion KRW and 363.7 billion KRW, respectively. Individuals net bought 482.7 billion KRW.

Sector indices showed mixed results. The pharmaceutical sector had the largest decline at 6.15%. This was followed by medical precision (-4.23%), banks (-2.56%), financials (-1.04%), and non-metallic minerals (-0.90%). Textile and apparel (2.92%), electric and gas utilities (1.68%), transportation and warehousing (1.14%), machinery (0.79%), and distribution (0.74%) rose.

Almost all of the top 10 market capitalization stocks fell. Celltrion's decline was the largest at 6.94%. This was followed by Samsung Biologics (-5.79%), Kakao (-3.11%), LG Chem (-2.29%), Samsung SDI (-1.85%), NAVER (-0.49%), Hyundai Motor (-0.23%), and Samsung Electronics (-0.14%). Kia rose 0.23%. SK Hynix remained flat.

At the same time, the KOSDAQ was down 0.52% (5.23 points) from the previous day, standing at 996.12. It had dropped to 988.36 at 10:27 AM.

Selling pressure from foreigners and institutions led to the index decline. Foreigners and institutions net sold 50.5 billion KRW and 16.5 billion KRW, respectively. Individuals net bought 71.4 billion KRW.

Sector indices were mixed. The pharmaceutical sector had the largest decline at 3.54%, followed by distribution (-3.38%), transportation equipment and parts (-2.97%), other services (-1.90%), and chemicals (-1.23%). Digital content (3.44%), entertainment and culture (2.32%), IT software & services (2.09%), broadcasting services (1.87%), and telecommunications broadcasting services (1.61%) rose.

The top 10 market capitalization stocks also showed mixed results. HLB had the largest decline at 8.59%, followed by Celltrion Healthcare (-7.18%), Celltrion Pharm (-6.84%), SK Materials (-1.13%), and L&F (-0.14%). Wemade (8.78%), Pearl Abyss (3.63%), CJ ENM (3.46%), EcoPro BM (1.82%), and Kakao Games (1.63%) rose.

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