KOSPI Slips Repeatedly Around 2700... Attempts to Rebound with Samsung Electronics Low-Price Buying Inflow

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 18th, the KOSPI, which started the day lower, is attempting to reclaim the 2700 level as it narrows its losses. However, it keeps slipping as soon as it rises, fluctuating around the 2690 level. This is interpreted as a lack of momentum due to foreign and institutional investors' 'selling'.

As of 1:42 PM, the KOSPI is up 0.04% at 2697.17. The index, which started down at 2685.04, is reducing its intraday losses and fluctuating in the high 2690s. At the same time, the KOSDAQ is trading down 0.43% at 920.50. The index started down at 921.69 and is fluctuating between the high 910s and low 920s.

Individual investors are defending the index decline by 'buying' against the 'selling' by foreigners and institutions.

In the KOSPI market, foreigners and institutions are selling about 90.4 billion KRW and 57 billion KRW respectively. Only individuals are buying about 139.7 billion KRW. In the KOSDAQ market, individuals are recording net purchases of 153.9 billion KRW. Meanwhile, foreigners and institutions are showing net sales of about 116.2 billion KRW and 32.8 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 market is likely to remain unstable this week." He added, "The market is expected to fluctuate between concerns over China's economic instability versus expectations for additional stimulus (such as interest rate cuts), rising oil price pressures due to Ukraine uncertainties versus concerns over Chinese demand, and oil price downward pressure due to the Fed's hawkish stance."

The strong sectors in KOSPI are Food & Beverages (+1.69%), Distribution (+1.24%), and Textiles & Apparel (+1.12%), while the weak sectors are Services (-0.80%), Finance (-0.49%), and Construction (-0.40%). In KOSDAQ, the weak sectors are Entertainment & Culture (-3.14%), Paper & Wood (-2.83%), and Digital Content (-2.59%), while the strong sectors are Food & Tobacco (+4.42%), Textiles & Apparel (+1.54%), and General Electric & Electronics (+0.91%).

Most of the top market capitalization stocks in KOSPI are declining. However, Samsung Electronics is up 0.75% (500 KRW) from the previous trading day, trading at 67,100 KRW. Although it dropped to 66,100 KRW during the session, it successfully reversed to an upward trend as bargain buying flowed in. The KOSDAQ market capitalization is also mostly in the green. The top two, EcoPro BM and Celltrion Healthcare, are showing slight gains.

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