KOSPI Declines on Net Selling by Foreigners and Institutions... KOSDAQ Also Down 0.56%

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI index is on a downward trend as foreigners and institutions show a selling bias.

As of 9:50 a.m. on the 17th, the KOSPI index was recorded at 2200.11, down 12.44 points (0.56%) from the previous trading day. The index opened at 2187.17, down 25.38 points (1.15%) from the previous trading day, but later narrowed the decline and recovered to the 2200 level. Individuals were the sole net buyers with approximately 226.7 billion KRW, while foreigners and institutions were net sellers of 35.6 billion KRW and 193.2 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion (-2.01%), Kia (-1.16%), Hyundai Motor (-0.90%), SK Hynix (-0.84%), and LG Chem (-0.52%) showed weakness. On the other hand, Samsung SDI (1.16%), LG Energy Solution (0.72%), and Samsung Biologics (0.12%) rose. Samsung Electronics and NAVER remained flat. Kakao, which experienced a data center fire, fell by 7.88%.

By sector, construction (-3.98%), electric and gas utilities (-2.58%), services (-2.10%), machinery (-1.56%), and distribution (-1.18%) declined. Medical precision (0.45%) and non-metallic minerals (0.27%) showed gains.

Seo Sang-young, head of the Media Content Division at Mirae Asset Securities, explained, "The U.S. stock market's decline due to a combination of factors such as lack of trust in the UK government, rising expected inflation, and recession concerns from slowing retail sales is a burden on the domestic stock market. In particular, the strengthening of the dollar and the resulting weakening of the Korean won could dampen investor sentiment."

On the 14th (local time), the Dow Jones Industrial Average closed at 29,634.83, down 403.89 points (1.34%) from the previous session. The large-cap-focused S&P 500 index ended at 3,583.07, down 86.84 points (2.37%). The tech-heavy Nasdaq index recorded 13,210.39, down 327.76 points (3.08%).

The USD/KRW exchange rate started at 1,440.9 won, up 12.4 won from the previous day's closing price, and briefly approached the intraday high of 1,442.2 won recorded on the 28th of last month. However, it later declined.

At the same time, the KOSDAQ index was at 674.45, down 3.79 points (0.56%) from the previous trading day. Foreigners and institutions were net sellers of approximately 8.2 billion KRW and 42.4 billion KRW, respectively, while individuals were net buyers of about 59.9 billion KRW.

Among the top market capitalization stocks, Kakao Games, a Kakao affiliate, showed the largest drop at 6.27%. This was followed by Pearl Abyss (-4.42%), HLB (-3.97%), L&F (-3.28%), Celltrion Healthcare (-2.87%), and Celltrion Pharm (-1.72%) showing weakness. On the other hand, EcoPro (5.46%), EcoPro BM (2.77%), L&F (2.29%), and JYP Ent. (1.93%) rose.

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