Due to Institutional Selling... KOSPI Falls to 2924 Level

KOSDAQ Shows Decline of Around 2%

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] Institutional investors are showing a selling trend in both KOSPI and KOSDAQ. Gaming stocks, including Kakao Games, which had been on the rise since the spread of COVID-19, fell sharply.

As of 2:08 PM on the 6th, the KOSPI recorded 2924.29, down 1.00% (29.68 points) from the previous day. It has continued to decline since opening lower today.

Institutional selling is strong. Institutions net sold 193.8 billion KRW. Individuals and foreigners net bought 139.6 billion KRW and 46.4 billion KRW, respectively.

Most sectors declined. The service sector had the largest drop at 3.27%. This was followed by pharmaceuticals (-2.76%), securities (-1.77%), textiles and apparel (-1.62%), and non-metallic minerals (-1.34%). Steel and metals (3.39%), construction (1.88%), transportation equipment (1.88%), insurance (0.53%), and chemicals (0.28%) rose in order.

The top 10 stocks by market capitalization showed mixed results. Kakao had the largest decline at 5.21%. This was followed by NAVER (-4.65%), Samsung Biologics (-2.21%), Samsung Electronics (-0.52%), and Samsung SDI (-0.31%). POSCO (4.40%), LG Chem (3.01%), Hyundai Motor (0.94%), SK Hynix (0.40%), and Kia (0.23%) rose in order.

At the same time, KOSDAQ recorded 982.22, down 2.71% (27.40 points) from the previous day. Although it recovered above the 1000 mark early in the session, reaching 1003.01 at 9:41 AM, it then plunged again.

Foreigners and institutions’ selling led to the index decline. Foreigners and institutions net sold 123.5 billion KRW and 207.5 billion KRW, respectively. Individuals net bought 345.6 billion KRW.

Almost all sectors declined. Digital content had the largest drop at 8.35%. This was followed by IT S/W & SVC (-6.00%), entertainment and culture (-4.37%), software (-3.53%), and medical and precision instruments (-3.08%). Computer services (2.60%), information devices (0.55%), and telecommunications services (0.16%) rose in order.

All of the top 10 stocks by market capitalization declined. Kakao Games had the largest drop at 13.54%. This was followed by Wemade (-10.98%), Pearl Abyss (-7.47%), Celltrion Pharm (-4.70%), HLB (-3.09%), Celltrion Healthcare (-2.88%), Chunbo (-2.46%), EcoPro BM (-2.17%), CJ ENM (-1.57%), and L&F (-0.55%).

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