Foreigners' 'Solo Fate' Amid KOSPI Rebound Attempt... Meritz Trio Up

On the 3rd, as the U.S. Federal Reserve (Fed) took a more hawkish stance than the market expected, the domestic stock market also started lower. This is a view of the Hana Bank dealing room in Jung-gu, Seoul. On that day, the KOSPI opened at 2297.45, down 39.42 points (1.69%) from the previous trading day, and the won-dollar exchange rate opened at 1425.3 won, up 7.9 won. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market is attempting a slight rebound during trading on the 22nd. Although it started lower due to foreign selling amid renewed concerns about an economic downturn caused by China's COVID-19 lockdowns, investor sentiment is recovering as expectations grow for a slowdown in the pace of U.S. monetary tightening.

On this day, the KOSPI index opened at 2405.96, down 13.54 points (0.56%) from the previous day, but turned upward early in the session. At 9:22 a.m., the index was at 2423.0, up 3.52 points (0.15%) from the previous day. Foreigners, who had initially sold heavily, appear to have calmed their selling pressure. At the same time, foreigners are net selling about 16.9 billion KRW, while individuals and institutions are net selling approximately 5 billion KRW and 17 billion KRW, respectively.

Last night in the U.S. stock market, semiconductor-related stocks including Apple showed weakness, causing Samsung Electronics, SK Hynix, and NAVER to decline, but other sectors are on the rise.

In particular, LG Chem surged more than 5%, and Samsung SDI is also recording gains of over 1%. Additionally, LG Energy Solution, Samsung Biologics, Kia, and Celltrion are showing firm gains.

By sector, Meritz Financial Group is showing strength in securities and finance industries, as Meritz Financial Group announced the day before that it plans to make Meritz Securities and Meritz Fire & Marine Insurance its wholly owned subsidiaries, causing these stocks to surge to their daily limit early in the session.

At the same time, the KOSDAQ index is at 719.28, up 0.71 points (0.10%) today. The index opened down 2.33 points (0.32%) at 716.24 but rebounded. Individuals are expanding their buying with net purchases worth about 25.5 billion KRW, while institutions have turned to net selling of about 7.8 billion KRW. Foreigners are net selling about 15 billion KRW.

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