KOSPI Continues Mixed Trend Amid Oversold Perception... Will It Hold the 2400 Level?

On the 21st, when the KOSPI index started with a slight rise, dealers were working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Kwon Jae-hee] On the 21st, the KOSPI index started higher, supported by the European stock markets closing up and news of the U.S. Biden administration's push for gasoline tax exemption. However, after fluctuating throughout the session, it fell back below the 2400 level. The KOSDAQ index also started higher but turned lower, showing mixed trends in both major indices.

As of 10:44 AM, the KOSPI index stood at 2393.88, up 0.12% (2.85 points) from the previous trading day. The index opened at 2402.99, up 0.50% (11.96 points) from the previous day.

By investor type, individual and foreign investors sold net amounts of 77.1 billion KRW and 185.3 billion KRW respectively, while institutions alone purchased stocks worth 261 billion KRW.

The top 10 market capitalization stocks also showed mixed trends. Samsung Electronics (-0.68%), LG Energy Solution (-1.09%), SK Hynix (-0.21%), Samsung Biologics (-0.49%), and Samsung Electronics Preferred (-0.37%) were on the decline, whereas LG Chem (0.87%), Samsung SDI (1.43%), NAVER (0.85%), and Hyundai Motor (0.29%) were on the rise.

By sector, transportation and warehousing (1.34%), securities (1.21%), transportation equipment (1.11%), insurance (0.75%), retail (0.72%), textiles and apparel (0.66%), services (0.60%), and chemicals (0.58%) were rising, while non-metallic minerals (-0.89%), construction (-0.66%), food and beverage (-0.47%), and steel and metals (-0.40%) were falling.

At the same time, the KOSDAQ index was trading at 768.68, down 0.16% (1.24 points) from the previous day. It opened at 774.80, up 0.63% (4.88 points) from the previous day.

By investor type, individuals and institutions bought net amounts of 61.7 billion KRW and 7.5 billion KRW respectively, while foreign investors sold a net amount of 54.5 billion KRW.

Among the top 10 market cap stocks, Ecopro BM (-0.27%), L&F (-2.94%), and Chunbo (-3.92%) were declining, while Celltrion Healthcare (0.49%), Kakao Games (13.86%), HLB (1.51%), Pearl Abyss (2.08%), Celltrion Pharm (1.09%), Alteogen (1.73%), and Wemade (7.34%) were rising.

By sector, digital content (5.06%), IT software (2.90%), other manufacturing (2.72%), medical/precision instruments (1.39%), entertainment and culture (1.23%), transportation (1.09%), software (0.92%), and information devices (0.67%) were rising, while paper and wood (-2.32%), chemicals (-1.16%), IT components (-1.03%), and general electrical and electronics (-0.72%) were declining.

Han Ji-young, a researcher at Kiwoom Securities, said, "Since there was no clear cause for the sharp drop in our stock market the previous day, today's rebound is expected, supported by the overreaction to the previous drop and the rise in European stock markets and U.S. futures markets. However, due to the recent sharp decline, the volume of margin call sell-offs by individual investors is increasing, so caution is needed against supply-demand noise caused by margin call sell-offs immediately after the market opens."

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