KOSPI Lacks Momentum 'Fails to Break 3000' · KOSDAQ Remains Steady... Only Individuals Net Sellers Alone

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 23rd, the KOSPI index, which started higher, gave up some of its gains and showed signs of weakening. It has not easily surpassed the 3000 level and is moving between the 2890 and early 2990 levels.

On this day, the KOSPI opened at 2998.02, up 13.54 points (0.45%) from the previous session, rose to 3000.70 in early trading, then gave up some gains. As of 10:55 AM, the KOSPI was at 2992.97. Meanwhile, the KOSDAQ started at 1004.45, up 4.32 points (0.43%), and continued its strong trend above the 1000 level. It is currently trading at 1006.92.

While foreigners and institutions are buying simultaneously, individuals are the only ones selling net. Individuals show a selling dominance of approximately 299.8 billion KRW and 130.7 billion KRW in the KOSPI and KOSDAQ markets, respectively. Foreigners are net buyers with 91.2 billion KRW and 38.2 billion KRW in the two markets, respectively. Institutions also show a buying dominance of 203.7 billion KRW and 114.4 billion KRW.

Seosangyoung, a researcher at Mirae Asset Securities, said, "Market participants believe the possibility of economic lockdowns due to COVID-19 is low, so overall investment sentiment has improved," adding, "The strong performance of Tesla has expanded the gains in the Nasdaq and S&P 500 indices."

The strong sectors in KOSPI are non-metallic minerals (+0.92%), electrical and electronics (+0.90%), and electricity and gas (+0.78%), while the weak sectors are medical precision (-2.05%), pharmaceuticals (-1.04%), and services (-0.49%).

The strong sectors in KOSDAQ are IT components (+2.67%), semiconductors (+2.50%), and non-metallic (+1.31%), while the weak sectors are publishing and media reproduction (-0.65%), other services (-0.37%), and pharmaceuticals (-0.31%).

Kim Seheon, a researcher at Kiwoom Securities, said, "The Korean stock market is expected to continue its strong trend supported by solid U.S. consumer confidence and easing concerns over the Omicron variant," adding, "The dollar's weakness yesterday is expected to increase the sustainability of recent foreign capital inflows."

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