KOSPI Weakens Around 2480... Foreigners and Institutions 'Sell Off'

On the 12th, the KOSPI index is showing weakness due to net selling by foreigners and institutions.

As of 9:10 AM that day, the KOSPI index stood at 2480.51, down 10.49 points (0.42%) from the previous day. Individuals alone bought stocks worth 89.4 billion KRW, but foreigners and institutions sold stocks worth 62.1 billion KRW and 29.1 billion KRW, respectively.

[Image source=Yonhap News]

The top 10 KOSPI market capitalization stocks are mixed. Samsung Electronics (-0.47%), LG Energy Solution (-1.81%), Samsung Biologics (-0.26%), and Hyundai Motor (-0.72%) are showing weakness. On the other hand, SK Hynix (0.23%), LG Chem (1.16%), and Kia (0.11%) are rising.

Experts expect the stock market to start slightly lower and continue to see selling pressure, considering ongoing concerns about an economic recession.

Seosangyoung, a researcher at Mirae Asset Securities, said, "Although the US stock market stabilized inflation-wise, concerns about regional banks resurfaced, and political division over the debt ceiling led to poor performance, which burdens our stock market. Of course, the Nasdaq successfully turned upward, but this is presumed to be due to Alphabet and Amazon showing strong performance for two consecutive days, so the impact is expected to be limited."

Seosangyoung added, "Currently, the global financial market is focusing on the debt ceiling negotiations between the White House and congressional leaders scheduled for Friday local time, increasing preference for safe assets, which is also a burden."

The KOSDAQ index is down 0.92 points (0.11%) from the previous trading day, standing at 823.62. Foreigners are net sellers of 55.6 billion KRW, institutions are net buyers of 4.6 billion KRW, and individuals have a buying advantage of 54.2 billion KRW.

By sector, the entertainment and culture sector is up over 1%, while computer services, information devices, transportation equipment parts, and distribution are slightly up. Telecommunications services, broadcasting services, internet, computer services, software, telecommunications equipment, semiconductors, IT parts, food and tobacco, textiles and apparel, publishing and reproduction, chemicals, pharmaceuticals, metals, medical precision instruments, construction, and finance are slightly down. Transportation, machinery equipment, paper and wood, and digital content sectors are down over 1%.

Among the top market capitalization stocks, L&F is up over 3%, HLB and JYP Ent. are up over 2%. SM is up over 1%, and EcoPro BM, EcoPro, Celltrion Healthcare, and Celltrion Pharm are slightly up. Kakao Games and Osstem Implant are slightly down, and Pearl Abyss is down over 1%.

Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate started at 1331 won, up 4.7 won.

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