Despite Individual Net Buying, KOSPI Weakness in Early Trading Session
[Asia Economy Reporter Minji Lee] Despite individual investors' net buying, the KOSPI is widening its losses in early trading.
At 9:15 a.m. on the 28th, the KOSPI stood at 2713.02, down 0.62% (16.96 points) from the previous trading day. The KOSPI opened the session at 2721.22, down 0.32% (8.76 points) from the previous day. At this time, individual investors alone are purchasing stocks worth 220.3 billion KRW in the KOSPI market. Foreigners and institutions sold stocks worth 96.1 billion KRW and 127.7 billion KRW, respectively.
Last Friday, the U.S. stock market showed mixed trends amid rising oil prices, and major central banks, led by the Federal Reserve (Fed), have been emphasizing the need for aggressive monetary policies, which is believed to be weighing on the stock market. Junghoon Seo, a researcher at Samsung Securities, explained, “For the time being, the Fed’s high-intensity tightening and the resulting high interest rate levels will act as constants in the market,” adding, “It is especially important to exercise caution when investing in growth stocks with high valuation burdens.”
Looking at the top market capitalization stocks, all are showing declines. Samsung Electronics (-0.57%), LG Energy Solution (-1.59%), SK Hynix (-0.85%), Samsung Biologics (-0.61%), NAVER (-2.25%), Kakao (-1.90%), LG Chem (-0.57%), Hyundai Motor (-0.86%), and Samsung SDI (-1.11%) all fell.
At the same time, the KOSDAQ index stood at 928.77, down 0.63% (5.92 points) from the previous trading day. The KOSDAQ opened at 934.18, down 0.05% (0.51 points) from the previous day. Regarding investment trends, individual investors alone bought stocks worth 84 billion KRW, while institutions and foreign investors sold stocks worth 21.6 billion KRW and 62.9 billion KRW, respectively.
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The top market capitalization stocks on the KOSDAQ also turned red. Celltrion Healthcare (-0.62%), EcoPro BM (-2.80%), L&F (-2.09%), Pearl Abyss (-2.37%), Celltrion Pharm (-0.91%), and WeMade (-1.17%) all declined.
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