KOSPI Starts Lower but Narrows Losses... Foreign Investors Net Buy Futures Inflow

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[Asia Economy Reporter Jang Hyowon] The KOSPI index is narrowing its losses after opening the session with a decline of over 1%.

As of 9:48 a.m. on the 16th, the KOSPI index is trading at 2,340.20, down 0.85% from the previous day. Institutions and foreigners are net sellers with 19.7 billion KRW and 400 million KRW respectively, while individuals are net buyers with 11.6 billion KRW. In the futures market, institutions and foreigners are net buyers with 53.1 billion KRW and 182.3 billion KRW respectively, whereas individuals are net sellers with 197.9 billion KRW.

By sector, electric and gas utilities (3.68%) and non-metallic minerals (0.05%) are rising, while medical precision (-1.52%), construction (-1.27%), services (-1.06%), and electrical and electronics (-1.03%) are declining.

All of the top market capitalization stocks are in decline. Samsung Electronics fell 1.01%, and LG Energy Solution also dropped 0.72%. Samsung Biologics -0.73%, SK Hynix -2.37%, Samsung SDI -1.35%, LG Chem -1.24%, Hyundai Motor -0.62%, NAVER -1.64%, Kia -0.47%, among others.

At the same time, the KOSDAQ index is down 1.21% at 713.98. Institutions and foreigners are net sellers with 10.7 billion KRW and 23.2 billion KRW respectively, while individuals are net buyers with 33.4 billion KRW.

Top market capitalization stocks on KOSDAQ also showed declines. Celltrion Healthcare fell 1.84%, and EcoPro BM dropped 1.08%. L&F -0.36%, Kakao Games -1.64%, HLB -1.68%, EcoPro -1.76%, Pearl Abyss -2.11%, Studio Dragon -0.48%, Celltrion Pharm -1.63%, etc.

Today, the domestic stock market started weak following the previous day’s decline in the U.S. stock market due to slowing real economic indicators in China. On the previous day in New York, the Dow Jones Industrial Average fell 2.25%, while the S&P 500 and Nasdaq indices plunged 2.49% and 3.23%, respectively.

Seo Sangyoung, a researcher at Mirae Asset Securities, said, “The ECB and the Bank of England (BOE) also mentioned concerns about the economy, spreading recession issues further, which could burden foreign investor flows.” However, he added, “Chinese Vice Premier Liu He mentioned considering new measures to restore market confidence, and the U.S. Public Company Accounting Oversight Board gaining audit rights over Chinese companies listed in the U.S. reduces the risk of delisting, which is favorable.”

He continued, “U.S. Treasury Secretary Janet Yellen met with the Chinese ambassador to the U.S. to discuss global economic development, easing concerns over U.S.-China conflicts, which is positive,” and forecasted, “If the Chinese stock market remains resilient, the domestic stock market could narrow its losses.”

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