Quiet KOSPI... Continues in a Narrow Range

Foreigners and Institutions Both Buy on KOSPI
"External Conditions Are Poor, but China's Stock Market Rise Supports Korea's Market"

On the 27th, the KOSPI and other indices are displayed in the dealing room of the Hana Bank headquarters in Myeongdong, Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI is relatively quiet, hovering sideways after opening slightly higher. With year-end dividends approaching and major shareholders' transfer tax avoidance volumes already out, a somewhat cautious stance has deepened.

As of 11:28 a.m. on the 27th, the KOSPI recorded 3,011.45, down 0.03% from the previous day. It turned downward after opening slightly higher at 3,013.94, but there has been no significant fluctuation.

Sangyoung Seo, a researcher at Mirae Asset Securities, explained, "Investors are cautious due to concerns about the new COVID-19 variant 'Omicron,' as U.S. airlines are canceling many flights, and international oil prices are falling, so the overall market trend is not favorable. Nevertheless, as the Chinese stock market itself is rising, the domestic market is maintaining a sideways trend rather than declining."

By investor type, foreigners and institutions net bought stocks worth 28.5 billion KRW and 217.2 billion KRW, respectively. Individuals net sold stocks worth 250.5 billion KRW.

More sectors declined. Banks (-0.85%), transportation and warehousing (-0.73%), telecommunications (-0.59%), and services (-0.54%) showed the largest drops. Medical precision (3.55%), textiles and apparel (1.49%), and food and beverages (0.57%) rose.

The KOSDAQ index rose 0.42% to 1,011.62 at the same time. After opening slightly higher at 1,008.90, there has been little movement.

In the KOSDAQ market, institutions alone purchased stocks worth 71.1 billion KRW. Foreigners and individuals net sold stocks worth 39.3 billion KRW and 19.4 billion KRW, respectively.

More sectors rose. Medical and precision instruments (1.46%), pharmaceuticals (1.28%), distribution (1.20%), and digital content (1.07%) led the gains. Entertainment and culture (-1.72%) and publishing and media reproduction (-1.59%) declined.

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