Early Weakness in Domestic Stock Market... Foreigners and Institutions Selling Pressure

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] On the 15th, the domestic stock market, which started lower, showed weakness in the early session due to selling pressure from foreigners and institutions.

At 10:07 a.m. on the 15th, the KOSPI was at 2636.32, down 0.35% (9.3 points) from the previous trading day. The KOSPI opened at 2630.31, down 0.58% (15.34 points) from the previous day. Foreigners and institutions sold net amounts of 134 billion KRW and 37 billion KRW respectively in the KOSPI market, pulling the index down. Meanwhile, individuals bought a net 171.1 billion KRW.

On this day, the domestic stock market showed weakness alongside the US stock market, which declined. The US stock market fell as the Federal Reserve (Fed) was expected to raise the benchmark interest rate by 0.25 percentage points at the Federal Open Market Committee (FOMC) meeting on the 15th-16th (local time). Additionally, the Nasdaq index declined due to concerns over supply chain disruptions as Shenzhen, Guangdong Province, China, where iPhone supplier Taiwan Foxconn is located, was locked down due to COVID-19 until the 20th.

Among the top market capitalization stocks, LG Chem fell the most, down 2.74%. This was followed by Samsung SDI (-1.53%), SK Hynix (-1.29%), Kakao (-0.97%), Samsung Electronics (-0.43%), Hyundai Motor (-0.3%), Samsung Biologics (-0.25%), and LG Energy Solution (-0.14%). On the other hand, Naver (NAVER) (1.37%) and Kia (0.87%) showed gains.

By sector, steel & metals (-1.47%), construction (-1.47%), electric & gas (-1.43%), and machinery (-1.34%) declined in order. Medical precision (3.7%), banking (1.81%), finance (0.54%), and insurance (0.44%) rose.

At the same time, the KOSDAQ index recorded 871.37, down 0.12% (1.07 points) from the previous session. Foreigners and institutions sold net amounts of 53.9 billion KRW and 23.4 billion KRW respectively, while individuals bought a net 80.3 billion KRW.

Among the top market capitalization stocks, Pearl Abyss, a gaming-related company, recorded the largest drop, down 3.88%. Wemade and Kakao Games also fell 1.02% and 0.82%, respectively. Celltrion Healthcare and Celltrion Pharm, which resolved uncertainties related to accounting fraud, also declined by 1.57% and 1.91%, respectively.

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