KOSPI and KOSDAQ Open Lower Amid Foreign Selling Pressure
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[Asia Economy Reporter Kwon Jaehee] The KOSPI and KOSDAQ indices started slightly lower.
As of 9:10 a.m. on the 10th, the KOSPI index was trading at 2,488.99, down 0.58% (14.47 points) from the previous trading day. The KOSPI opened the session at 2,493.70, down 0.39% (9.76 points) from the previous day.
Looking at investor trends, individuals and institutions bought stocks worth 65.6 billion KRW and 43.8 billion KRW respectively, while foreigners net sold stocks worth 119.9 billion KRW.
Among the top 10 market capitalization stocks, all were down except Samsung SDI (1.14%) and Hyundai Motor (0.26%). Samsung Electronics was trading at 58,000 KRW, down 2% from the previous day. Other stocks included LG Energy Solution (-0.44%), SK Hynix (-3.26%), Samsung Biologics (-0.11%), LG Chem (-0.89%), Samsung Electronics Preferred (-2.35%), NAVER (-1.13%), and Kakao (-1.56%).
At the same time, the KOSDAQ index was at 828.33, down 0.64% (5.32 points) from the previous day. The KOSDAQ opened at 829.29, down 0.52% (4.36 points).
By investor type, individuals were the sole net buyers with 28.2 billion KRW, while foreigners and institutions sold stocks worth 25.8 billion KRW and 0.3 billion KRW respectively.
Among the top market capitalization stocks on the KOSDAQ, only EcoPro (1%) recorded gains. Celltrion Healthcare and HLB were flat, while all other stocks declined. These include EcoPro BM (-0.89%), L&F (-1.27%), Kakao Games (-0.68%), Pearl Abyss (-0.33%), Celltrion Pharm (-0.33%), Alteogen (-0.52%), and Chunbo (-0.568%).
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Seo Sangyoung, Head of Media Content at Mirae Asset Securities, analyzed, "The decline in the Philadelphia Semiconductor Index and the drop in electric vehicle-related stocks could weigh on the secondary battery sector, which may burden our stock market. The extent of market fluctuations will likely be determined by the continuity of foreign investor flows."
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