Due to the decline in the US stock market, the KOSPI also faltered... Foreigners returned to net selling after one day

[Image source=Yonhap News]

[Asia Economy Reporter Myung-Hwan Lee] On the morning of the 24th, the KOSPI is showing a downward trend. This is interpreted as a ripple effect of the U.S. stock market closing lower the previous day due to rising international oil prices. Foreign investors, who had shown buying momentum for the first time in a while the day before, turned to net selling in just one day.

As of 9:20 a.m. today, the KOSPI is at 2717.93, down 17.12 points (0.63%) from the previous trading day. The KOSPI started the day at 2716.25, down 18.80 points (0.69%). By investor type, individuals and institutions are buying 119.4 billion KRW and 5.2 billion KRW respectively, while foreign investors are the only ones net selling 126.5 billion KRW.

Most of the top 10 market capitalization stocks are declining. Kakao is trading down 2.35% at 104,000 KRW, and Samsung Electronics is down 0.71% at 70,000 KRW. Others also falling include ▲LG Energy Solution (-0.98%) ▲SK Hynix (-1.62%) ▲Naver (NAVER) (-1.74%) ▲Samsung Biologics (-0.84%) ▲Samsung Electronics Preferred (-0.47%). LG Chem (1.57%) and Samsung SDI (0.38%) are rising. Hyundai Motor is trading at the same price as the previous day, 176,000 KRW.

By sector, medical precision equipment is up 1.13%, showing strength, while services (-1.27%), pharmaceuticals (-1.24%), and banks (-1.19%) are weak.

At the same time, the KOSDAQ is at 926.12, down 4.45 points (0.48%) from the previous trading day. The KOSDAQ started at 926.29, down 4.28 points (0.46%), gradually narrowing the decline. By investor type, individuals are the only net buyers with 124.1 billion KRW, while institutions and foreigners are selling 36.2 billion KRW and 73.4 billion KRW respectively.

All of the top 10 market capitalization stocks on the KOSDAQ are falling. Kakao Games stands out with a 7.20% drop, trading at 74,700 KRW. Pearl Abyss (-2.04%), HLB (-1.88%), and EcoPro BM (-1.79%) are also declining.

By sector, food and tobacco (1.15%) show notable strength. Digital content (-2.63%) and general electric and electronics (-1.58%) are in decline.

Sang-Young Seo, a researcher at Mirae Asset Securities, said, "The recent decline in the U.S. stock market, which had been rising, due to increased profit-taking desire is a burden on our stock market," adding, "The heightened concerns about economic slowdown and the expectation that the U.S. Federal Reserve's tightening pace will proceed rapidly are also burden factors."

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