KOSPI Starts Upward but Quickly Turns Down... Foreigners and Institutions 'Sell Off'

[Image source=Yonhap News]

[Asia Economy Reporter Myung-hwan Lee] On the 15th, the domestic stock market briefly rose right after opening but is now expanding its decline. Foreign investors and institutions are showing net selling in the early session.

As of 9:30 a.m., the KOSPI is at 2303.05, down 0.83% (19.27 points) from the previous trading day. The KOSPI opened at 2335.12, up 0.55% (12.80 points) from the previous day, but soon turned downward and is showing a significant decline. By investor type, individuals are the only ones net buying with 210.6 billion KRW, while foreigners and institutions are selling 81.1 billion KRW and 142 billion KRW respectively.

Among the large-cap stocks in the KOSPI market, semiconductor-related stocks are mainly showing an upward trend. This appears to be due to improved concerns about the semiconductor industry after Taiwan's TSMC announced strong Q2 earnings the day before. Samsung Electronics is trading at 58,200 KRW, up 1.22% (700 KRW) from the previous day. SK Hynix is also trading at 96,400 KRW, up 2.55% (2,400 KRW) from the previous day. Most other stocks are showing a 'blue light' (decline). LG Chem fell 3.21%, along with NAVER (-2.14%), Kia (-1.78%), Hyundai Motor (-1.64%), and Samsung Biologics (-1.09%).

At the same time, the KOSDAQ index is at 761.73, down 0.57% (4.35 points) from the previous day. The KOSDAQ opened at 768.41, up 0.30% (2.33 points) from the previous day, but has turned downward and is declining. By investor type, individuals are net buying 73.1 billion KRW, while foreigners and institutions are net selling 49 billion KRW and 23.6 billion KRW respectively.

Most of the large-cap stocks in the KOSDAQ market are also declining. EcoPro BM, the largest by market capitalization in KOSDAQ, is trading at 115,200 KRW, down 1.54% (1,800 KRW) from the previous day. Kakao Games (-2.52%), Celltrion Healthcare (-1.68%), and L&F (-1.41%) are also showing significant declines. On the other hand, Alteogen is trading at 66,100 KRW, up 2.01% (1,300 KRW) from the previous day.

The domestic stock market is expected to be influenced by China's real economy indicators to be announced at 11 a.m. today. Sang-young Seo, Head of Media Content at Mirae Asset Securities, said on the 15th regarding the domestic stock market, "Attention should be paid to China's real economy indicators such as GDP growth rate, retail sales, and industrial production, which will be announced at 11 a.m. Korean time. In particular, the forecast for GDP growth rate is expected to decrease by 1.5% compared to the previous quarter and increase by only 1% year-on-year. The Chinese government's determination on economic stimulus policies in the upcoming press conference will be important."

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