KOSPI Starts Lower but Narrows Losses... Foreigners and Institutions 'Net Buyers'

KOSPI Trades Below 3000
Reflecting Impact of US Nasdaq Index Decline

[Asia Economy Reporter Minji Lee] The KOSPI is trading below the 3000 mark in early trading due to the decline in the US Nasdaq index.

At 9:08 a.m. on the 17th, the KOSPI stood at 2997.15, down 0.31% (9.26 points) from the previous trading day. The KOSPI opened the day at 2985.20, down 0.71% (21.21 points) from the previous day, but the decline is gradually narrowing. Looking at investor supply and demand trends, foreigners and institutions bought stocks worth 18.9 billion KRW and 17.5 billion KRW respectively, while individuals sold stocks worth 32.5 billion KRW alone.

The KOSPI started lower today influenced by the previous day’s decline in the US stock market, centered on the Nasdaq. The European Central Bank (ECB) announced it would accelerate tightening, and the Bank of England (BOE) decided to raise interest rates abruptly for the first time in three years, which led to a decline in major tech stocks. Additionally, increased volatility in supply and demand ahead of the simultaneous expiration of US futures and options also had an impact.

However, securities experts believe the domestic stock market will not fall sharply. Sangyoung Seo, a researcher at Mirae Asset Securities, said, “The hawkish moves by central banks caused the Nasdaq to fall, which can be a burden on the stock market, but considering that supply and demand factors played a role ahead of the US futures and options expiration, volatility is expected to improve,” adding, “A rebound buying trend is expected to appear centered on stocks with improved earnings.”

Among the top market capitalization stocks, Samsung Electronics and SK Hynix fell about 0.9% and 1.2%, respectively. NAVER (-0.39%), Kakao (-1.26%), LG Chem (-0.99%), Samsung SDI (-1.17%), and Kia (-0.70%) also declined.

At the same time, the KOSDAQ index stood at 1001.61, down 0.62% (6.25 points) from the previous trading day. The KOSDAQ opened at 1001.51, down 0.63% (6.35 points) from the previous day. Looking at investor supply and demand trends, individuals bought stocks worth 35.8 billion KRW alone, while foreigners and institutions sold stocks worth 15.4 billion KRW and 17.6 billion KRW, respectively.

All of the top market capitalization stocks in the KOSDAQ market are on a downward trend. Celltrion Healthcare (-1.22%), EcoPro BM (-2.03%), Pearl Abyss (-1.45%), L&F (-3.09%), Kakao Games (-1.13%), Wemade (-0.06%), and Celltrion Pharm (-1.51%) all declined.

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