Individual Investors Switch from 'Palja' to Buying... KOSPI Recovers to 2560 Level with 'Narrowed Decline'

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] As the U.S. stock market plunged due to concerns over an economic recession, the domestic stock market also showed a downward trend on the 10th. However, in the KOSPI market, individual investors who had been selling turned to buying, reducing the extent of the index decline.

The KOSPI index was at 2,561.55 at 10:26 a.m., down 49.26 points (1.89%) from the previous trading day. During the session, the KOSPI fell to 2,553.64, marking a level lower than the year's lowest point of 2,591.53 recorded on January 28. However, as individuals who had been net sellers of over 120 billion KRW turned to buying, the index recovered to the 2,560 level. Currently, individuals and institutions are net buyers of approximately 25.2 billion KRW and 12.8 billion KRW respectively, while foreigners are net sellers of 39.6 billion KRW.

Among the top market capitalization stocks, all declined except SK Hynix, which remained flat. LG Chem recorded the largest drop, falling 4.17%. This was followed by Hyundai Motor (-2.20%), Kakao (-2.14%), and Samsung SDI (-1.86%). Samsung Electronics, ranked first in market capitalization, fell 1.06%.

All sectors also declined, with insurance (-3.10%), construction (-2.86%), and transportation and warehousing (-2.74%) showing particularly notable drops.

At the same time, the KOSDAQ index fell 22.64 points (2.88%) from the previous session to 838.20. Individuals and institutions were net sellers of approximately 31.9 billion KRW and 3.8 billion KRW respectively, while foreigners were net buyers of 40.4 billion KRW.

Among the top market capitalization stocks on KOSDAQ, all showed weakness, including Ligno Industrial (-4.87%), EcoPro BM (-3.31%), Celltrion Pharm (-2.97%), and Kakao Games (-2.28%).

Jung Da-woon, a researcher at Ebest Investment & Securities, explained, "Due to concerns about an economic recession in the U.S., there has been a preference for safe assets, and panic selling has also appeared. Because of these influences, the domestic stock market is also showing a downward trend."

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