KOSPI Extends Decline, 2300 Level 'At Risk'... Continued Selling by Foreigners and Institutions

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] The KOSPI is slightly extending its downward trend in the afternoon of the 12th. Foreign investors and institutions are increasing their selling pressure in both major markets, driving the index down.

As of 2 p.m. on the day, the KOSPI stands at 2307.24, down 1.41% (33.03 points) from the previous trading day. The KOSPI opened at 2330.88, down 0.40% (9.39 points) from the previous day, and the decline is gradually widening.

The decline appears to be influenced by the resurgence of COVID-19 in China. At the same time, the Shanghai Composite Index in China is down 1.07% (35.45 points) from the previous day, standing at 3278.13. Sangyoung Seo, Head of Media Content at Mirae Asset Securities, said, "Concerns related to China's economic lockdown have become a key topic in the market, which has expanded the decline in the Korean stock market," adding, "The Korean stock market's fluctuations will be determined by changes in the Chinese market."

By investor type, individual investors are the only ones buying, picking up 332.3 billion KRW. In contrast, foreign investors and institutions are net sellers of 77.8 billion KRW and 226 billion KRW, respectively.

Among the top 10 KOSPI market capitalization stocks, nine are declining. Samsung Electronics is trading at 58,100 KRW, down 1.19% (700 KRW) from the previous day, retreating to the low 58,000 KRW range. Naver (NAVER) is down sharply by 3.95% (9,500 KRW) to 231,000 KRW. Others also declined, including ▲SK Hynix (-0.64%) ▲Samsung Biologics (-0.36%) ▲Samsung Electronics Preferred (-2.21%) ▲Hyundai Motor (-0.56%) ▲LG Chem (-1.72%) ▲Samsung SDI (-1.52%) ▲Kia (-0.14%). LG Energy Solution is the only stock rising, up 0.76%.

By sector, only the insurance sector is up by 1.05%. Meanwhile, non-metallic minerals (-4.10%), securities (-3.45%), and steel & metals (-3.29%) are experiencing significant declines.

At the same time, the KOSDAQ index is at 748.43, down 2.43% (18.61 points) from the previous day. The KOSDAQ opened at 762.18, down 0.63% (4.86 points), and the downward trend is gradually increasing.

By investor type, individuals are net buyers of 302.5 billion KRW, while foreign investors and institutions are net sellers of 189.1 billion KRW and 93.7 billion KRW, respectively.

Most of the top market capitalization stocks on the KOSDAQ are also declining. Studio Dragon is down sharply by 4.28% (3,200 KRW) to 71,600 KRW. L&F (-3.81%), EcoPro BM (-3.14%), and Pearl Abyss (-3.11%) are also weak. Only HLB (1.60%) and Kakao Games (0.41%) are rising. Alteogen is trading unchanged at 61,800 KRW.

All major KOSDAQ sectors are also declining. Among them, paper & wood (-4.55%), semiconductors (-4.53%), and non-metallic minerals (-4.31%) are experiencing declines exceeding 4%.

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