KOSPI, Starts Up but Reverses to Decline Due to Foreign Selling

by Jang Hyowon

Published 09 Mar.2023 10:14(KST)

The KOSPI index turned to a decline during the session, pressured by foreign selling.

As of 10 a.m. on the 9th, the KOSPI index was trading at 2,426.70, down 0.24% from the previous day. The index started higher, buoyed by strength in the semiconductor sector on the New York Stock Exchange the day before. However, heavy foreign selling is seen as weighing on the index.

[Image source=Yonhap News]

By investor type, institutions and individuals are net buyers with 27.1 billion KRW and 74.9 billion KRW respectively, while foreigners are net sellers of 103.1 billion KRW, pressuring the index. Program trading also saw net selling, with 9.3 billion KRW in arbitrage trades and 72.8 billion KRW in non-arbitrage trades.

Sector performance is mixed. The insurance sector is up 1.98%, and construction is also strong at 2.01%. Transportation equipment is up 0.79%, machinery 0.68%, securities 0.52%, and finance 0.55%. On the other hand, non-metallic minerals are down 5.01%, chemicals -1.2%, paper and wood -0.95%, and electrical and electronics -0.77%.

Top market capitalization stocks are also mixed. Samsung Electronics, ranked first by market cap, remains flat, while LG Energy Solution is down 1.78%, SK Hynix -1.61%, Samsung SDI -2.92%, and LG Chem -1.4%. Conversely, Samsung Biologics rose 0.39%, Hyundai Motor 1.66%, and Kakao 0.51%.

The KOSDAQ index continues to deepen its losses. At the same time, the KOSDAQ index is trading at 802.07, down 1.46% from the previous day.

By investor type, institutions and foreigners are net sellers of 80.5 billion KRW and 152.7 billion KRW respectively, while individuals are net buyers of 249.4 billion KRW.

Among top market cap stocks, secondary battery-related shares are weak. Ecopro BM fell 3.83%, L&F -5.89%, and Ecopro -3.89%. Meanwhile, Celltrion Healthcare rose 1.25%, HLB 6.98%, and Celltrion Pharm 3.5%.