Individual and Foreign 'Palja' KOSPI Falls for 3 Consecutive Trading Days... Below 2350 Level

KOSPI Narrows Losses to Recover 2350 Level
KOSDAQ Shows Uptrend Before Closing Lower

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI index closed lower for the third consecutive trading day as individuals and foreigners showed a selling bias.

On the 19th, the KOSPI index closed at 2352.17, down 7.85 points (0.33%) from the previous trading day. The index started at 2350.78, down 9.24 points (0.39%), then widened its decline to 2342.28. However, it narrowed the loss and recovered to the 2350 level. Institutions defended the index decline by net buying about 28.1 billion KRW, while individuals and foreigners sold about 17.5 billion KRW and 23.6 billion KRW worth, respectively.

Among the top market capitalization stocks, Samsung SDI (-3.00%) recorded the largest drop. Concerns over earnings due to the U.S. Inflation Reduction Act (IRA) highlighted declines in Kia (-2.65%) and Hyundai Motor (-2.15%). LG Chem (-1.86%), Samsung Biologics (-1.68%), and LG Energy Solution (-0.72%) also fell. On the other hand, Naver (NAVER) (1.66%) and SK Hynix (0.77%) rose. Samsung Electronics and Celltrion remained flat.

By sector, textiles and apparel (-1.68%), machinery (-1.43%), transportation equipment (-1.42%), pharmaceuticals (-1.33%), chemicals (-0.94%), electric and gas utilities (-0.92%), and construction (-0.80%) declined. Conversely, services (0.82%), transportation and warehousing (0.64%), insurance (0.41%), medical precision instruments (0.32%), securities (0.23%), and finance (0.17%) rose.

The KOSDAQ index closed at 717.22, down 0.19 points (0.03%) from the previous trading day. It started at 716.80, down 0.61 points (0.09%), fluctuated, and rose to 722.42. However, it gave back gains and eventually turned lower. Individuals and foreigners net sold about 3.5 billion KRW and 32.5 billion KRW, respectively, while institutions were the sole net buyers with about 39.5 billion KRW.

Among the top market capitalization stocks, L&F fell more than 3%, followed by HLB (-2.30%), EcoPro BM (-0.79%), and EcoPro (-0.61%). Studio Dragon rose 3.58%, recording the largest gain. It was followed by Celltrion Pharm (2.87%), Pearl Abyss (2.73%), Celltrion Healthcare (0.62%), Kakao Games (0.45%), and Rino Industries (0.31%).

Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, "Both major indices fluctuated around the flat line before the KOSPI widened its decline. Amid reduced trading volume, the overall decline in large secondary battery stocks and weakness in the Chinese stock market during the session also drove the index down."

On the day, the USD/KRW exchange rate closed at 1302.9 won, down 2.5 won from the previous trading day's closing price.

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