KOSPI Falls Below 2800 Amid Selling Pressure from Individuals and Foreigners

KOSDAQ Drifts Away from 1000 Level... Falls to 916 Level

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI, which fell below the 2800 mark for the first time in 13 months, remains sluggish. Selling pressure from individuals and foreigners is leading to the index's decline.

As of 1:53 PM on the 24th, the KOSPI recorded 2788.19, down 1.63% (46.10 points) from the previous day. This is the first time the KOSPI has fallen below 2800 since December 24, 2020, marking 13 months. It even dropped to 2780.68 at 12:04 PM on the same day.

Selling pressure from individuals and foreigners is strong. Individuals and foreigners sold a net 66.9 billion KRW and 435.2 billion KRW, respectively. Institutions bought a net 520.3 billion KRW.

Most sectors declined. The textile and apparel sector saw the largest drop at 3.65%. This was followed by steel and metals (-3.00%), transportation and warehousing (-2.96%), machinery (-2.73%), and transportation equipment (-2.55%). Food and beverage (1.09%) and medical precision (0.10%) sectors rose.

All of the top 10 stocks by market capitalization fell. LG Chem had the largest decline at 3.46%. This was followed by KB Financial Group (-2.82%), Hyundai Motor (-2.00%), Kakao (-1.96%), Kia (-1.62%), NAVER (-1.20%), Samsung SDI (-1.02%), Samsung Biologics (-0.98%), SK Hynix (-0.84%), and Samsung Electronics (-0.79%).

At the same time, the KOSDAQ recorded 916.06, down 2.84% (26.79 points) from the previous day. The KOSDAQ even dropped to 911.02 at 11:35 AM on the same day.

Selling pressure from foreigners led to the index's decline. Foreigners sold a net 178.6 billion KRW. Individuals and institutions bought a net 167.7 billion KRW and 29.8 billion KRW, respectively.

All sectors declined. The digital content sector saw the largest drop at 6.28%. This was followed by entertainment and culture (-5.46%), IT software & services (-5.23%), general electric and electronics (-5.14%), and paper and wood (-4.46%).

Most of the top 10 stocks by market capitalization fell. Pearl Abyss had the largest decline at 9.47%. This was followed by Wemade (-8.18%), EcoPro BM (-7.33%), Kakao Games (-4.60%), HLB (-2.81%), Chunbo (-1.33%), and L&F (-1.16%). Seegene (3.32%), Celltrion Healthcare (2.55%), and Celltrion Pharm (0.56%) rose.

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