KOSPI Falls Below 2400, Exchange Rate Nears 1400 Won... Foreigners and Institutions 'Sell Off'

On the 16th, when the won-dollar exchange rate started to rise, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Hwang Yoon-joo] On the 16th, the KOSPI started lower, failing to hold the 2400 level. The won-dollar exchange rate is approaching 1400 won, dampening foreign investor demand.

On this day, the KOSPI opened at 2387.56, down 0.59% (14.27 points). As of 9:20 AM, it was trading at 2387.93, down 0.58% (13.90 points).

In the early session, individual investors are supporting the downside by showing a 'buying' trend. Currently, individuals are purchasing stocks worth 143.1 billion won. In contrast, foreigners and institutions are net sellers of 34 billion won and 111.5 billion won, respectively.

The variable today is the exchange rate. The won-dollar exchange rate opened at 1399.0 won, up 5.3 won from the previous day. Foreign exchange dealers expect the exchange rate to range between 1392 won and 1403 won.

Kim Dae-jun, a researcher at Korea Investment & Securities, said, "Key indicators such as China's industrial production and retail sales are scheduled to be announced today," adding, "Given the circumstances, we should keep the possibility of 1400 won open."

Among the top market capitalization stocks, only automobile stocks are on the rise. Hyundai Motor and Kia Motors are up 1.01% and 0.88%, respectively, compared to the previous day. The stock with the largest decline is Naver (-2.44%). Following are SK Hynix (-1.96%), LG Chem (-1.37%), and Samsung SDI (-1.30%), which are relatively more down.

Samsung Electronics, ranked first in market capitalization, is down 0.71% at 55,600 won. This is the 52-week low based on the closing price on the 8th (55,600 won).

By industry, chemicals are down 0.99%, pharmaceuticals -0.84%, textiles and apparel -0.66%, electrical and electronics -0.56%, manufacturing -0.40%, and medical precision -0.30%.

The KOSDAQ opened at 776.49, down 4.89 points (0.63%), and is narrowing its losses. As of 9:30 AM, it is trading at 779.75, down 0.21% (1.63 points).

In the KOSDAQ as well, individual buying supports the downside. Individuals are net buyers of 76 billion won, while foreigners and institutions are net sellers of 57.4 billion won and 18 billion won, respectively.

Unlike the KOSPI, the top market capitalization stocks show mixed trends. Pharmaceutical stocks such as Celltrion Pharm (-2.13%), Celltrion Healthcare (-1.75%), and Alteogen (-1.25%) are among the top decliners.

Battery stocks show mixed performance: EcoPro BM is down 1.06%, while L&F is up 2.74%. EcoPro is also up 1.10%.

SM, which announced the termination of its contract with Lee Soo-man's personal company 'Like Planning,' surged immediately after the market opened. It is currently trading at 72,800 won, up 13.02% (8,400 won).

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