KOSPI Turns Pale Blue Again... Retreats to 2980 Level
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[Asia Economy Reporter Ji Yeon-jin] The KOSPI index turned downward during trading on the 24th. After recovering the 3000 level in a single day due to simultaneous buying by foreigners and individuals, the index is widening its decline as institutions pour out sell orders.
As of 11:17 a.m. on the day, the KOSPI was trading at 2,984.81, down 12.53 points (0.42%) from the previous day.
The index opened at 3,006.34, up 0.3%, and early in the session, the simultaneous buying by foreigners and individuals expanded the gains, spreading expectations for a year-end rally, but its momentum is weakening as time passes. Individuals have net bought about 201.6 billion KRW, foreigners about 187.1 billion KRW, while institutions have net sold about 393.8 billion KRW.
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At the same time, the KOSDAQ recorded 1,005.77, down 7.95 points (0.78%) from the previous day. The KOSDAQ also started the day with gains but turned downward about an hour after the opening and widened its losses. Individuals net bought about 36.6 billion KRW, while foreigners and institutions net sold about 26.0 billion KRW and 5.7 billion KRW, respectively.
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