KOSPI Rises to 2700 Then Falls Back 'Lacking Stamina'... Only Individuals Defend the Index

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 18th, the KOSPI, which started the day lower, briefly reclaimed the 2700 level as the intraday decline narrowed in the morning session, but then slipped back to the 2690 level. It is interpreted that only individual investors defended the index by 'buying,' showing a lack of follow-through strength.

As of 11:09 a.m., the KOSPI is down 0.02% at 2695.53. The index, which started lower at 2685.04, has narrowed its intraday losses and is fluctuating in the high 2690s. At the same time, the KOSDAQ is trading down 0.48% at 919.97. The index started lower at 921.69 and has been oscillating between the high 910s and low 920s.

Foreigners and institutions are 'selling,' while individuals are countering with 'buying' to defend the index's decline, but due to supply-demand imbalance, the index seems to struggle to rise dynamically.

In the KOSPI market, foreigners and institutions are selling approximately 71.8 billion KRW and 67.9 billion KRW respectively. Only individuals are buying about 130.8 billion KRW worth. In the KOSDAQ market, individuals are recording net purchases of 136.4 billion KRW. Meanwhile, foreigners and institutions are net selling about 10.5 billion KRW and 28.1 billion KRW respectively.

Lee Kyung-min, a researcher at Daishin Securities, said, "China's Q1 GDP growth rate and March real economy indicators are inevitably weak, and hawkish Federal Reserve (Fed) officials' press conferences are scheduled, so the global financial markets are likely to remain unstable this week as well." He added, "The market is expected to fluctuate between concerns over China's economic instability versus expectations for additional economic stimulus (such as interest rate cuts), increased oil price pressure due to uncertainty over Ukraine versus concerns over China's demand, and oil price downward pressure due to the Fed's hawkish stance."

Meanwhile, the top market cap stocks in the KOSPI are showing slight gains. Samsung Electronics is up 0.45%. Although it hit a new 52-week low early in the session at 66,100 KRW, it rebounded afterward. SK Hynix and Hyundai Motor are also on the rise. Conversely, the top market cap stocks in the KOSDAQ are showing declines, with Cheonbo falling more than 3%.

Weak sectors in the KOSPI are services (-0.79%), finance (-0.42%), and pharmaceuticals (-0.27%), while strong sectors are textiles and apparel (+1.80%), food and beverages (+1.46%), and distribution (+1.04%). Weak sectors in the KOSDAQ are entertainment and culture (-3.18%), paper and wood (-2.79%), and digital content (-2.41%), while strong sectors are food and tobacco (+3.88%), textiles and clothing (+1.40%), and internet (+1.04%).

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