KOSPI Falls Below 3000 Again... Decline Led by Institutional Investors

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market, which started with a firm tone, is showing weakness in the early session due to simultaneous selling by foreigners and institutions.

As of 9:40 a.m. today, the KOSPI is trading at 2992.15, up 1.14 points (0.04%) from the previous day. While individuals are net buyers with purchases worth approximately 204.8 billion KRW, foreigners and institutions are net sellers with sales worth 70.2 billion KRW and 135.5 billion KRW respectively, leading the index downward.

SK Hynix rose 3.15% following news that it completed the first phase of acquiring Intel, and Samsung Electronics is also up 0.51%. Samsung Biologics is up 2.13% after the previous day's news of Samsung's acquisition of the U.S. pharmaceutical company Biogen. On the other hand, LG Chem fell 2.07%, and Samsung SDI also showed a decline of 1.51%, with most of the top market capitalization stocks showing weakness.

The KOSDAQ is trading at 1026.24, up 1.81 points (0.18%) from the previous day. Foreigners are net sellers of 118.1 billion KRW, and institutions are net sellers of 106.3 billion KRW. Individuals are net buyers with purchases worth approximately 228.9 billion KRW.

Among the top market capitalization stocks on the KOSDAQ, except for Pearl Abyss (0.52%), Kakao Games (0.45%), and Cheonbo (0.32%), the rest are in decline. HL Biotech is down 2.46%, showing the largest drop.

Lee Kyung-min, a researcher at Daishin Securities, said, "Due to issues with individual stocks, the KOSPI rose to 3005 points in the early session, but concerns about the holiday, program selling by institutional investors after the ex-dividend date, and short selling appear to be factors for the decline." In fact, the program net selling amount on the day was 124.9 billion KRW for KOSPI and 130.3 billion KRW for KOSDAQ.

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