KOSPI Trades Flat Intraday Amid Selling Pressure from Institutions and Foreigners

by Jang Hyowon

Published 31 Jan.2023 09:37(KST)

[Asia Economy Reporter Jang Hyowon] The KOSPI index is moving sideways during the session amid selling pressure from institutions and foreigners.

As of 9:29 AM on the 31st, the KOSPI index is trading at 2453.79, up 0.14% from the previous day.

By investor type, institutions and foreigners recorded net sales of 7 billion KRW and 29.9 billion KRW respectively, while individuals showed net purchases of 34.7 billion KRW. In the futures market, institutions and individuals net sold 156.8 billion KRW and 26.9 billion KRW respectively, whereas foreigners recorded net purchases of 176.3 billion KRW.

[Image source=Yonhap News]

On this day, the KOSPI index opened down 0.02%. The previous day, the US New York stock market showed a downward trend ahead of the Federal Open Market Committee (FOMC) meeting, leading the KOSPI index to start weak as well.

By sector, electric and gas utilities fell 0.32%, electronics -0.37%, pharmaceuticals -0.31%, steel and metals -0.23%, securities -0.16%, and machinery -0.18%, showing weakness. On the other hand, non-metallic minerals rose 2.59%, medical precision equipment 1.05%, and insurance 0.61%.

Top market capitalization stocks showed mixed movements. Samsung Electronics, which announced earnings on this day, fell 0.79% from the previous day, while SK Hynix -0.44%, Samsung Biologics -0.62%, LG Chem -0.29%, Hyundai Motor -0.29%, and Kakao -0.63% were weak. Conversely, LG Energy Solution rose 0.39%, Samsung SDI 0.58%, and NAVER 0.24% showed strength.

Meanwhile, at the same time, the KOSDAQ index is trading at 736.27, down 0.32% from the previous day. The KOSDAQ index also started weak and is experiencing selling pressure from institutions and foreigners.

Most of the top market capitalization stocks are weak. Ecopro BM fell 3.77%, Celltrion Healthcare -0.17%, L&F -2.63%, Kakao Games -0.54%, Ecopro -4.42%, and Pearl Abyss -0.55% showed weakness. On the other hand, JYP Entertainment showed strength with a 1.84% rise.