Foreign and Institutional Selling Pressure Weighs on KOSPI Early Session... KOSDAQ Falls Below 800 Mark

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] Following the decline in the US stock market, the domestic stock market opened lower on the 1st.

As of 9:07 a.m., the KOSPI index was recorded at 2440.81, down 31.24 points (1.26%) from the previous trading day. The index started at 2443.00, down 29.05 points (1.18%), and the decline has been widening since. Individual investors net bought about 106.7 billion KRW, but foreigners and institutions sold about 22.7 billion KRW and 85 billion KRW respectively.

The KOSDAQ index is also weak. At the same time, the KOSDAQ index was at 798.56, down 8.48 points (1.05%). It started trading at 800.74, down 6.30 points (0.78%), but the decline deepened, breaking below the 800 mark. Individual investors bought about 44.8 billion KRW, but foreigners and institutions net sold about 30 billion KRW and 14.3 billion KRW respectively, leading the index decline.

Due to ongoing concerns about tightening by the Federal Reserve (Fed), the US stock market fell for the fourth consecutive trading day. On the 31st of last month (local time), the Dow Jones Industrial Average closed at 31,510.43, down 280.44 points (0.88%) from the previous session. The large-cap S&P 500 index closed at 3,955.00, down 31.16 points (0.78%). The tech-heavy Nasdaq index recorded 11,816.20, down 66.93 points (0.56%).

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