[Featured Stock] KakaoBank Stumbles on 'Sell' Report, Rises 4% Intraday on Improved Supply and Demand
![[Featured Stock] KakaoBank Stumbles on 'Sell' Report, Rises 4% Intraday on Improved Supply and Demand](http://www.asiae.co.kr/news/img_view.htm?img=2021080413294663414_1628051386.jpg)
[Asia Economy Reporter Minji Lee] KakaoBank is showing an upward trend during trading hours.
At 11:27 AM on the 5th, KakaoBank was trading at 30,500 KRW, up 3.57% from the previous trading day. On the same day, KakaoBank's stock price even surged to 30,750 KRW. Previously, KakaoBank experienced a significant decline following an unusual 'sell' recommendation report from a domestic securities firm. Concerns over slowing growth and declining profitability, along with negative investor sentiment toward bank stocks, were the main reasons. As a result, the stock price fell by 26% over the past month.
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However, as the KOSPI index shows an increase approaching 2% at this time, and the net buying volume by foreigners and institutions has significantly increased, KakaoBank's stock price is also showing an upward trend. According to the current investor trading trends, foreigners purchased 134,000 shares and institutions bought 41,000 shares.
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