KOSPI Starts Lower... Hit by Institutional Net Selling

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@

[Asia Economy Reporter Junho Hwang] On the 2nd, the stock market started off weak.

On this day, the KOSPI opened at 2451.00, down 1.25 points (-0.31%) from the previous session. As of 9:12 AM, it recorded 2444.76, down 7.49 points, continuing its weakness.

Individual and foreign investors showed net buying intentions of 88.7 billion KRW and 31.3 billion KRW respectively, but institutions sold off 119.8 billion KRW, causing the overall market to decline.

Among all stocks, 514 declined while 262 rose. Most of the top market capitalization stocks also showed weakness. Samsung Electronics, the unwavering market leader, traded at 61,300 KRW, the same as the previous day, while LG Energy Solution and SK Hynix were down 0.36% and 0.62% respectively compared to the previous day. LG Chem and Samsung SDI, which had risen the previous day, also fell by 0.33% and 0.17% respectively. On the other hand, Samsung Biologics traded at 881,000 KRW, up 0.34% from the previous day.

By sector, textiles and apparel, transportation equipment, machinery, and construction sectors showed upward trends. Following the previous day, Seongan recorded a sharp rise, increasing the overall gains in the textiles and apparel sector.

The KOSDAQ started the day with gains but soon reversed to a decline. It opened at 807.69, up 0.08 points (0.01%) from the previous day. However, at this time, the decline has widened to 0.14%. While individuals showed net buying of 63.5 billion KRW, foreigners (-58.5 billion KRW) and institutions (-5.6 billion KRW) showed net selling intentions, increasing the decline.

Among all KOSDAQ stocks, 816 are declining while 262 are rising. Among the top market capitalization stocks, EcoPro BM, which had a significant rise yesterday, recorded 126,300 KRW, down 1.10% from the previous day. Meanwhile, Celltrion Healthcare is up 0.14% at 71,700 KRW compared to the previous day. By sector, machinery equipment (1.55%), metals (0.99%), and transportation (0.76%) are showing upward trends.

Meanwhile, consumer prices in July rose by 6.3%, the highest in 23 years and 8 months. However, the securities industry evaluates this as being in line with the Bank of Korea’s expectations. Ha Geon-hyeong, a researcher at Shinhan Financial Investment, said, "Price instability continued through August, supporting the Bank of Korea’s tightening stance," adding, "We hope to see price stabilization from September and expect easing of tightening."

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