KOSPI Slightly Declines in Early Trading... Foreigners and Institutions Sell Together

On the 16th, when the KOSPI index started lower due to selling by individuals and foreigners, dealers were working in the Hana Bank dealing room in Euljiro, Seoul. The KOSPI opened at 2,995.68, down 3.84 points (0.13%) from the previous trading day. Photo by Moon Honam munonam@

[Asia Economy Reporter Park Jihwan] On the morning of the 16th, the KOSPI showed a slight decline in early trading. It is interpreted that the overnight U.S. stock market's weak performance, centered on technology stocks due to the widening rise in Treasury yields, influenced investor sentiment.

As of 9:12 a.m. on this day, the KOSPI stood at 2,992.61, down 0.23% (6.91 points) from the previous trading day. The index opened at 2,995.68, down 0.13% (3.84 points) from the previous day.

Overnight, the New York stock market showed a slight decline influenced by the widening rise in Treasury yields. The Dow Jones Industrial Average closed at 36,087.45, down 0.04% (12.86 points) from the previous day. The Standard & Poor's (S&P) 500 index fell 0.00% (0.05 points) to 4,682.80, and the Nasdaq index closed down 0.04% (7.11 points) at 15,853.85.

By investor type, foreigners and institutions sold net amounts of 29.8 billion KRW and 55.9 billion KRW, respectively. Individuals bought net 85.1 billion KRW, defending the index.

Most of the top market capitalization stocks were down. LG Chem (1.05%) and Samsung SDI (0.66%) rose. Meanwhile, Hyundai Motor (-0.96%), Kia (-1.85%), and Celltrion (-1.72%) fell. Samsung Electronics, NAVER, and Samsung Biologics remained flat.

At the same time, the KOSDAQ was at 1,029.11, up 0.01% (0.08 points) from the previous trading day. The index opened at 1,029.35, up 0.03% (0.32 points) from the previous day but soon turned downward. It then increased again and is currently on an upward trend.

In the KOSDAQ, similar to the KOSPI, individuals alone bought net 63.5 billion KRW. Foreigners and institutions sold net 51.4 billion KRW and 11.0 billion KRW, respectively.

Among the top market capitalization stocks, most showed an upward trend. Celltrion Healthcare and EcoPro BM fell by 1.19% and 0.60%, respectively. Pearl Abyss (5.67%), L&F (0.78%), Kakao Games (0.51%), and Wemade (0.53%) rose.

Seo Sang-young, a researcher at Mirae Asset Securities, said, "The recent weakness in some technology stocks, which had been rising sharply due to the increase in U.S. Treasury yields, is a burden," adding, "Considering the recent large gains in the Korean stock market, it is expected to stimulate profit-taking desires."

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