KOSPI Continues to Decline... Foreigners and Institutions Jointly Net Sell

[Image source=Yonhap News]

[Asia Economy Reporter Junho Hwang] On the morning of the 7th, the stock market continues to decline amid net buying by individual investors, while foreign and institutional investors continue to sell.

The KOSPI is currently down 0.85% at 2647.82 as of 10:22 AM. While individuals have net bought stocks worth 240.3 billion KRW, foreign and institutional investors have net sold stocks worth 35.4 billion KRW and 221.3 billion KRW respectively, causing the index to struggle to recover.

Among all listed stocks, 623 stocks are declining, indicating that most stocks are showing red. Among the top market capitalization stocks, even LG Energy Solution, which showed a slight rise in the early session, is now falling, showing a downward trend. The unchanging market leader Samsung Electronics is trading down 1.05% at 66,100 KRW. Samsung Biologics (-3.29%), NAVER (-2.74%), and SK Hynix (-1.40%) are also showing significant declines. By sector, the electricity and gas (0.13%) and transportation equipment (0.03%) sectors are showing slight gains.

The KOSDAQ is also recording a decline. As of this time, it is down 1.03% at 882.36 compared to the previous session. Although individuals are showing a net buying intention worth 105.3 billion KRW, foreign and institutional investors are net selling stocks worth 62.7 billion KRW and 37.9 billion KRW respectively, causing the index to head downward.

The number of declining stocks among all listed stocks has increased to 1,058 compared to the early session. Among the top market capitalization stocks, all are declining except Pearl Abyss (0.32%).

Despite the market downturn, the newly listed stock Cheongdam Global has hit the upper price limit for the second trading day. This stock is trading at 9,930 KRW, up to the price limit of 29.97%. Cheongdam Global, an e-commerce platform company established in November 2017, was listed on the 3rd. On its first listing day, the closing price was 7,640 KRW, up 17.54% from the opening price of 6,500 KRW. This is 27.33% higher than the public offering price of 6,000 KRW.

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