KOSPI Slightly Rises, KOSDAQ Steady... Foreigners Sell Over 120 Billion Won

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] While the KOSPI index started higher on the 21st, the KOSDAQ showed a sideways trend, initially dropping nearly 1% before rebounding. This is interpreted as the aggressive moves by the U.S. Federal Reserve (Fed) having already been reflected in the domestic stock market on the previous day (21st), limiting their impact.

As of 9:20 a.m. on the day, the KOSPI stood at 2,695.38, up 9.33 points (0.35%) from the previous trading day. The KOSPI opened at 2,686.68, up 0.63 points (0.02%), and continued its upward trend. By investor type, individuals and institutions were net buyers of 50.8 billion KRW and 41.1 billion KRW respectively, while foreigners were the sole net sellers with 93.1 billion KRW sold.

Looking at the top market capitalization stocks, Samsung Electronics was trading up 0.29% at 70,100 KRW. Other gainers included ▲LG Energy Solution (1.55%) ▲Kakao (0.95%) ▲Hyundai Motor (2.08%) ▲LG Chem (0.82%). On the other hand, NAVER fell 0.59%, along with ▲Samsung Biologics (-0.36%) ▲Samsung Electronics Preferred (-0.47%) ▲Samsung SDI (-0.40%). SK Hynix was unchanged from the previous day, trading at 122,000 KRW.

By sector, ▲Insurance (2.21%) ▲Transportation Equipment (1.57%) ▲Steel & Metals (1.21%) rose, while ▲Pharmaceuticals (-1.59%) ▲Transportation & Warehousing (-0.98%) ▲Textiles & Apparel (-0.27%) declined.

At the same time, the KOSDAQ was at 919.49, up 1.09 points (0.12%) from the previous day. The KOSDAQ opened at 916.70, down 1.70 points (0.19%), and around 9:10 a.m. retreated to the 914 level, showing a nearly 1% drop before rebounding. By investor type, individuals and institutions bought 36.5 billion KRW and 6.2 billion KRW respectively, while foreigners were net sellers of 42.4 billion KRW.

Among the top market capitalization stocks, ▲Pearl Abyss (0.57%) ▲L&F (0.21%) ▲Kakao Games (1.15%) ▲Wemade (3.82%) ▲Cheonbo (0.29%) ▲CJ ENM (1.44%) were rising. Meanwhile, Celltrion Healthcare plunged 6.94%, along with ▲EcoPro BM (-0.33%) ▲Celltrion Pharm (-2.75%) ▲HLB (-1.82%) declining.

By sector, ▲Food & Beverage & Tobacco (3.50%) ▲Entertainment & Culture (1.94%) ▲Digital Content (1.55%) rose, while ▲Distribution (-3.04%) ▲Other Services (-0.73%) ▲Telecommunication Services (-0.39%) fell.

Han Ji-young, a researcher at Kiwoom Securities, said, "Similar to the U.S. stock market, the domestic market on the 22nd is expected to show limited price movement as it digests Fed Chair Jerome Powell’s hawkish remarks," adding, "There will be differentiated market trends among sectors and stocks depending on individual factors such as the rebound in international oil prices."

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