KOSPI Declines Further Amid Increased Institutional Selling... KOSDAQ Rebounds Again

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market showed mixed trends on the 24th. The KOSPI index, which showed strength in the early session, turned to a decline and is slightly expanding its losses, while the KOSDAQ index, which fell during the session, is rebounding.

As of 2 p.m. on the day, the KOSPI index was trading at 2,986.01, down 11.32 points (0.38%) from the previous day. Individuals are net buyers of 266.5 billion KRW, and foreigners are net buyers of 264.1 billion KRW. On the other hand, institutions are net sellers of 556.8 billion KRW, leading the weakness.

Samsung Electronics, which showed strength in the early session, turned to a decline (-1.20%) and dropped to 7,400 KRW, while NAVER (-1.38%), Hyundai Motor (-1.63%), and Samsung Biologics (-1.63%) are recording losses exceeding 1%. Meanwhile, SK Hynix (+0.42%) and LG Chem (+0.54%) are showing upward trends.

At the same time, the KOSDAQ index is recording 1,014.27, up 0.55 points (0.05%). Foreigners bought 24.9 billion KRW and individuals bought 13.2 billion KRW, while institutions are net sellers of 29.3 billion KRW.

Celltrion Healthcare, which had been rising due to a surge in COVID-19 cases, turned to a decline (-0.12%). However, Seegene is recording a rise exceeding 12%.

Secondary battery-related stocks all turned to an upward trend as foreigners switched to buying. SK Materials showed a rise of over 6%, and EcoPro BM (+1.70%) and L&F (+3.8%) also turned to gains.

Jung Yong-taek, a researcher at IBK Investment & Securities, said, "Although the US market fell due to hawkish remarks from the Federal Reserve, the domestic stock market is holding up well today," and predicted, "The battle for KOSPI 3000 will continue for the time being unless there is a special trigger."

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