KOSPI Falls 1.4% to 2930 Level Amid Foreign and Institutional Selling...

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] On the 26th, the KOSPI closed lower due to net selling by foreigners and institutions. Following three consecutive days of net selling by institutions, foreigners also turned to selling during the session, increasing the decline. This is attributed to a sharp deterioration in investor sentiment following news of a new COVID-19 variant emerging in South Africa.

On this day, the KOSPI closed at 2,936.44, down 1.47% (43.83 points) from the previous trading day. This marks four consecutive days of decline. The investor sentiment was significantly dampened by news in the afternoon about a variant virus from South Africa, which is more contagious than the Delta variant. The World Health Organization (WHO) announced plans to hold an emergency meeting to discuss countermeasures.

By investor type, individual investors were the sole net buyers with 491.1 billion KRW. In contrast, foreigners and institutions were net sellers of 182.2 billion KRW and 372.6 billion KRW, respectively.

Among the top 10 companies by market capitalization, most showed weakness. LG Chem, Hyundai Motor, and Kia all fell by around 2%. Samsung Electronics (-1.90%), SK Hynix (-1.70%), NAVER (-1.89%), and Kakao (-1.95%) also declined. On the other hand, Samsung Biologics closed up 2.72%.

The KOSDAQ also closed lower at 1,005.89, down 0.96% (9.77 points) from the previous trading day. Foreigners and institutions were net sellers of 145.1 billion KRW and 10.8 billion KRW, respectively. Individuals were net buyers of 128.2 billion KRW.

Among the top 10 KOSDAQ companies by market capitalization, L&F (-0.43%), SK Materials (-2.45%), and HL Biopharma (-3.49%) declined. Meanwhile, Celltrion Healthcare (1.43%), EcoPro BM (0.63%), Pearl Abyss (2.78%), Kakao Games (1.29%), and Wemade (2.84%) closed higher.

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