KOSPI Falls to 2460 Level... Foreigners Expand 'Selling'

KOSDAQ Uptrend Expands... Institutions Shift to 'Sell'

[Asia Economy Reporter Hwang Yoon-joo] On the 15th, the KOSPI index, which started higher, turned downward. As foreigners increased their selling pressure, the index, which had risen to the 2480 level, dropped to the 2460 level by mid-morning.

As of 10 a.m., the KOSPI was trading at 2466.55, down 0.33% (8.10 points) from the previous day. The KOSPI opened up 0.33% at 2482.76 but soon turned to a downward trend.

The expanding selling by foreigners is pulling the index down. Foreigners are net selling 221.2 billion KRW at this time, nearly double the 102.3 billion KRW net selling seen at the market open. In the futures market, foreigners are net buying 31.1 billion KRW, but this buying pressure has weakened compared to 54.4 billion KRW at the opening. Meanwhile, individuals and institutions are net buying 157.2 billion KRW and 63.7 billion KRW respectively. Despite individuals increasing their buying more than threefold compared to early trading, it was insufficient to defend the index.

The top market capitalization stocks also reversed from early trading. SK Hynix is up +0.11%, Samsung Biologics +0.33%, Naver +0.27%, and Celltrion +0.57%.

[Image source=Yonhap News]

Samsung Electronics, the largest by market cap, turned downward (-0.32%), and LG Energy Solution, which was flat, is down 1.82%. Notably, Samsung SDI is down 5.27%, recording the largest decline. It is precariously holding at 720,000 KRW after giving back all gains from the past two trading days.

By sector, Food & Beverage is down -1.16%, Steel & Metals -0.84%, Insurance -0.66%, Electrical & Electronics -0.62%, Chemicals -0.44%, and Transportation Equipment -0.33%.

As of 10:12 a.m., the KOSDAQ is up 0.29% (2.17 points) at 731.71. It started the day up 0.11% at 730.33 and is showing a slight upward trend.

Individuals alone are net buying 17 billion KRW, driving the index. Foreigners and institutions are net selling 7.4 billion KRW and 9 billion KRW respectively. Institutions were buyers early on but turned to selling along with foreigners.

Among the top market cap stocks, only HLB (-3.46%) and EcoPro (-2.15%) are down. Meanwhile, Cheonbo is up +3.05%, Lino Industrial +1.99%, and Pearl Abyss +1.67%.

Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate opened at 1326 KRW, up 0.1 KRW from the previous trading day’s close of 1325.9 KRW. This follows a rebound close the day before, maintaining a cautious sentiment.

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