Foreigners and institutions 'sell-off' widen KOSPI early losses... KOSDAQ turns to gains

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI index is showing weakness in the early session due to selling pressure from foreigners and institutions.

As of 9:13 a.m. on the 27th, the KOSPI index stood at 2406.97, down 5.99 points (0.25%) from the previous close. The index opened at 2412.52, down 0.44 points (0.02%) from the previous close, and then widened its losses. While individuals net bought about 55.8 billion KRW to curb the index's decline, foreigners and institutions net sold approximately 22.2 billion KRW and 17.9 billion KRW worth, respectively.

At the same time, the KOSDAQ index is on the rise. It was recorded at 792.65, up 2.72 points (0.34%) from the previous trading day. The KOSDAQ index started trading at 789.16, down 0.77 points (0.10%) from the previous close, but then turned upward. Individuals and institutions net bought about 10.3 billion KRW and 0.6 billion KRW, respectively, while foreigners sold around 11.5 billion KRW worth.

Today, the domestic stock market is expected to enter a cautious trading phase ahead of the International Monetary Fund (IMF) lowering its global economic growth forecast to 3.2% for this year and the upcoming U.S. Federal Open Market Committee (FOMC) meeting on the 27th (local time). Han Ji-young, a researcher at Kiwoom Securities, explained, "The domestic stock market is expected to enter a cautious trading phase with limited price movements, influenced by the IMF's downward revision of growth forecasts, July FOMC caution, and earnings events of major domestic companies such as SK Hynix, LG Chem, and Samsung Electro-Mechanics."

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