Institutions Increase Selling Pressure on Kospi, Hovering Around 2460... Kosdaq Falls Below 800

[Image source=Yonhap News]

[Asia Economy Reporter Lee Myunghwan] The KOSPI index is further extending its downward trend in the afternoon of the 22nd. Institutional investors are selling off more than 200 billion KRW in the KOSPI market, fueling the index's decline. The KOSDAQ index also widened its losses, breaking below the 800-point mark.

As of 1:50 PM on the day, the KOSPI stands at 2461.90, down 1.24% (30.79 points) from the previous trading day. The KOSPI opened at 2467.38, down 1.02% (25.31 points), and the downward momentum has intensified in the afternoon session.

By investor type, individual and foreign investors are net buyers of 159.3 billion KRW and 76.8 billion KRW respectively, while institutions alone are net sellers of 231.6 billion KRW.

Lee Kyungmin, a researcher at Daishin Securities, commented on the index decline, stating, "Following the release of the July Federal Open Market Committee (FOMC) minutes, expectations for interest rate cuts next year have diminished. Additionally, the increased inflationary pressure in Europe is weighing on the economy, and the euro-dollar parity approaching again has heightened financial market volatility, dampening investor sentiment." However, he added, "Despite the won-dollar exchange rate surging to around 1340 KRW, foreign investors continue their net buying, which limits further declines in the KOSPI."

Among the top 10 stocks by market capitalization in the KOSPI market, most are in decline. Samsung SDI is trading at 602,000 KRW, down 2.59% (16,000 KRW) from the previous day. Samsung Biologics (-2.42%) and SK Hynix (-2.07%) are also recording losses in the 2% range. Large semiconductor stocks such as Samsung Electronics (-1.48%) and SK Hynix (-2.07%) are also down. Only LG Chem is slightly up, trading at 641,000 KRW, a 0.16% (1,000 KRW) increase from the previous day.

Socar, which was listed on the domestic stock market today, is trading below its public offering price. At the same time, Socar is trading at 26,650 KRW, down 4.82% (1,350 KRW) from its opening price, which is also below the public offering price of 28,000 KRW.

At the same time, the KOSDAQ index stands at 799.51, down 1.80% (14.66 points) from the previous trading day. The KOSDAQ opened at 806.90, down 0.89% (7.27 points), and the losses widened in the afternoon, breaking below the 800-point level.

By investor type, individuals are net buyers of 158.6 billion KRW alone, while foreign and institutional investors are net sellers of 26.2 billion KRW and 126.1 billion KRW respectively.

Most of the top market capitalization stocks in the KOSDAQ are also declining. Secondary battery-related stocks such as Cheonbo (-2.79%), L&F (-2.42%), EcoPro (-1.30%), and EcoPro BM (-0.88%) are seeing significant declines. Game-related stocks like Kakao Games (-2.89%) and Pearl Abyss (-1.73%) are also down. Celltrion Healthcare is trading unchanged at 74,500 KRW from the previous day.

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