KOSPI and KOSDAQ Both Fall Over 1%... Foreigners' Net Selling Intensifies

[Image source=Yonhap News]

[Asia Economy Reporter Myung-hwan Lee] On the morning of the 24th, the KOSPI and KOSDAQ indices are showing a decline of around 1%. This is presumed to be the aftermath of the previous day’s U.S. stock market closing lower due to rising international oil prices and the aggressive monetary policy of the U.S. Federal Reserve (Fed). Foreign investors are selling about 430 billion KRW combined in both markets.

As of 10:35 a.m., the KOSPI is at 2,708.75, down 26.30 points (0.96%) from the previous trading day. The KOSPI opened at 2,716.25, down 18.80 points (0.69%), and the decline is gradually widening. By investor type, individual investors are the only ones net buying with 487.5 billion KRW, while foreign investors and institutions are net selling 310.7 billion KRW and 181.1 billion KRW, respectively.

Most of the top 10 stocks by market capitalization are in a downtrend. NAVER is trading down 2.89% at 335,500 KRW, and SK Hynix is down 2.83% at 120,000 KRW. Others include Samsung Electronics (-1.13%), LG Energy Solution (-1.72%), Samsung Biologics (-2.16%), Samsung Electronics Preferred (-0.78%), Kakao (-2.35%), and Hyundai Motor (-0.28%). LG Chem is the only stock among the top 10 showing gains, up 2.17% at 519,000 KRW. Samsung SDI is trading unchanged at 520,000 KRW.

By sector, Medical Precision (1.20%) and Electric Gas (1.15%) are rising, while Pharmaceuticals (-1.93%), Services (-1.68%), and Steel & Metals (-1.62%) are weak.

At the same time, the KOSDAQ is at 921.31, down 9.26 points (1.00%) from the previous trading day. The KOSDAQ opened at 926.29, down 4.28 points (0.46%), and the decline has somewhat widened. By investor type, individual investors are net buyers with 210.3 billion KRW, while foreign investors and institutions are net sellers of 124.3 billion KRW and 73.4 billion KRW, respectively.

Among the top 10 KOSDAQ stocks by market capitalization, 9 are down. Kakao Games stands out with a 7.58% drop to 74,400 KRW. EcoPro BM (-3.96%), Pearl Abyss (-3.72%), and HLB (-2.66%) are also down. WeMade is the only stock rising, up 0.19% at 103,500 KRW.

By sector, Food & Beverage and Tobacco (1.15%) show notable strength. Digital Contents (-2.63%) and General Electric & Electronics (-1.58%) are declining.

Han Ji-young, a researcher at Kiwoom Securities, commented on the domestic stock market on the 24th: "Due to short-term profit-taking following recent gains, Fed tightening, and the Ukraine situation are acting as renewed burdens, leading to a weak trend. The overall index ceiling is limited, and going forward, stock price patterns will continue to differentiate among stocks depending on earnings forecasts and individual issues."

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