KOSPI Falls Below 2300 During Session, Declines Narrow... Continued Selling by Foreigners and Institutions

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] On the morning of the 15th, the KOSPI, which had fallen more than 1% and dropped below the 2300 level, recovered above 2300 as the decline narrowed. Foreigners and institutions continued their net selling in the morning session.

As of 10:55 a.m., the KOSPI stood at 2309.77, down 0.54% (12.55 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 during the morning session, it fell more than 1%, breaking below the 2300 level for the first time in 7 trading days. By investor type, individuals were the sole net buyers with purchases worth 316 billion KRW, while foreigners and institutions were net sellers of 57.9 billion KRW and 270.8 billion KRW, respectively.

Among the top market capitalization stocks on the KOSPI, semiconductor-related stocks mainly showed gains. This appears to be due to improved concerns about the semiconductor industry following Taiwan's TSMC announcement of strong Q2 earnings the previous day. Samsung Electronics traded at 58,500 KRW, up 1.74% (1,000 KRW) from the previous day, and SK Hynix rose 2.98% (2,800 KRW) to 96,800 KRW. Samsung SDI (1.85%) and Samsung Electronics Preferred (0.19%) also showed upward trends. On the other hand, LG Chem traded down 3.02% (16,000 KRW) at 514,000 KRW. Naver (-1.50%), Hyundai Motor (-1.10%), Samsung Biologics (-0.97%), and LG Energy Solution (-0.88%) were also in decline.

By sector, only the electric and electronics sector rose, up 1.25%. Construction (-2.81%), transportation and warehousing (-2.37%), and insurance (-2.14%) sectors declined.

At the same time, the KOSDAQ index stood at 759.65, down 0.84% (6.43 points) from the previous day. The KOSDAQ opened at 768.41, up 0.30% (2.33 points) from the previous day, but then extended its decline. By investor type, individuals bought stocks worth 155.6 billion KRW, while foreigners and institutions sold 111.8 billion KRW and 41.6 billion KRW, respectively.

Many of the top market capitalization stocks on the KOSDAQ were also in the red. Kakao Games traded at 49,350 KRW, down 4.17% (2,150 KRW) from the previous day. EcoPro BM (-3.42%), Pearl Abyss (-1.71%), and L&F (-1.50%) also declined. Alteogen traded unchanged at 64,800 KRW.

By KOSDAQ sector, only non-metallic minerals rose slightly by 0.24%, while food and tobacco (-3.26%), publishing and media replication (-2.04%), and digital content (-1.99%) sectors declined.

The domestic stock market is expected to determine its direction based on the Chinese real economy indicators to be announced at 11 a.m. today. Kiwoom Securities researcher Yumi Kim said, "During the session, the market will be influenced by China's June retail sales, industrial production, and fixed asset investment data. If the indicators fall short of expectations, concerns will arise that the Chinese government may struggle to achieve its 2022 annual growth target of 5.5%, which could weaken overall investor sentiment in Asian markets."

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