Fluctuating Stock Market... Continued Net Selling by Foreign Investors

On the 28th, the KOSPI index opened at 2,437.57, up 0.91% (22.04 points) from the previous trading day, as dealers were working in the Hana Bank dealing room in Euljiro, Seoul. The won-dollar exchange rate started at 1,306 won, down 7.3 won. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Hwang Junho] On the afternoon of the 1st, the stock market continues to show mixed trends amid persistent net selling intentions by foreign investors, similar to the morning session.

As of 1:19 PM, the KOSPI stands at 2449.06, down 0.10% from the previous close. While individual investors are showing net buying intentions worth 83.6 billion KRW, foreign and institutional investors are net selling 25.4 billion KRW and 54.3 billion KRW respectively, causing the index to decline. The KOSPI fluctuated in the early trading hours.

Although the index fell, 474 stocks are rising while 361 are declining. Among the top market capitalization stocks, LG Chem and Samsung SDI stand out with gains. LG Chem rose after announcing it had submitted a Phase 3 clinical trial plan for its self-developed gout drug 'Tigulixostat' to the U.S. Food and Drug Administration (FDA).

The trial will evaluate the efficacy and safety of the drug over six months in 350 adult gout patients with hyperuricemia across multiple countries including the U.S. The primary endpoint is the proportion of patients reaching a serum uric acid level of 6 mg/dL at six months.

Samsung SDI's stock price appears positively influenced by Hana Securities' report at the end of last month, which described the battery business as excessively undervalued, issuing a 'Buy' rating and setting a target price of 1.08 million KRW.

By sector, the textile and apparel industry shows notable gains in the afternoon. The sector is up 2.50%, led by stocks such as Seongan (+26.37%) and F&F (+6.02%). The non-metallic minerals sector rose 1.52%, followed by gains in chemicals, construction, machinery, and transportation equipment sectors.

On the 28th, the KOSPI index opened at 2,437.57, up 0.91% (22.04 points) from the previous trading day, as dealers were working in the Hana Bank dealing room in Euljiro, Seoul. The won-dollar exchange rate started at 1,306 won, down 7.3 won. Photo by Moon Honam munonam@

The KOSDAQ, which successfully drew an upward curve, is up 0.54% from the previous close at 807.96. Individual investors are driving the rise with net buying worth 17.2 billion KRW, while foreign and institutional investors show net selling intentions of 4.7 billion KRW and 10 billion KRW respectively.

Among all stocks, 773 are rising. Among the top market cap stocks, strong gains were seen in some stocks as in the morning session, including Ecopro BM (+6.70%), L&F (+3.37%), Chunbo (+3.13%), and Ecopro (+2.69%).

By sector, the electric and electronics sector rose 3.81%, led by Canary Bio, Ecopro BM, and PNT, each gaining more than 5%. Publishing media (+2.08%) and metals (+1.95%) also recorded significant gains.

Choi Yuna, a researcher at Shinhan Financial Investment, analyzed, "The KOSPI is showing weakness as South Korea recorded a trade deficit for four consecutive months last month. The U.S. PCE price index rose 6.8% year-on-year, and core PCE increased 4.8% year-on-year. Additionally, the decline in China's July manufacturing and services PMI has dampened investor sentiment across Asian stock markets."

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