KOSPI Narrows Intraday Losses Amid Foreign and Individual Buying Pressure

by Jang Hyowon

Published 24 May.2023 10:01(KST)

On the 24th, the KOSPI index, which started off lower, is narrowing its losses as foreign and individual investors rush to buy during the session.

[Image source=Yonhap News]

As of 9:50 a.m. that day, the KOSPI index was trading at 2563.55, down 4.01 points (0.16%) from the previous day.

By investor type, institutions are net sellers with 111.1 billion KRW, while foreigners and individuals are net buyers with 32.5 billion KRW and 80.8 billion KRW respectively, supporting the market. In futures trading, institutions and foreigners are net sellers with 76.5 billion KRW and 144.9 billion KRW respectively, while individuals are net buyers with 144.6 billion KRW. Program trading saw net buying of 3.4 billion KRW in arbitrage trading and 29.2 billion KRW in non-arbitrage trading.

Sector-wise, performance is mixed. Construction is up 1.69%, insurance 1.44%, food and beverages 1.54%, securities 0.99%, transportation equipment 0.71%, non-metallic minerals 0.37%, and finance 0.2% showing strength. Conversely, services are down 1.55%, textiles and apparel -1.23%, pharmaceuticals -0.57%, chemicals -0.46%, and paper and wood -0.26% are weak.

Among the top market capitalization stocks, more are down than up. Samsung Electronics remains flat, while SK Hynix is down 1.53%, Samsung Biologics -0.51%, Samsung SDI -0.56%, Hyundai Motor -0.48%, and NAVER -2.12% are weak. On the other hand, LG Energy Solution is up 0.52%, LG Chem 0.28%, and Kia 0.34% are showing strength.

At the same time, the KOSDAQ index is widening its losses under heavy selling pressure from foreigners. The KOSDAQ index is trading at 853.42, down 5.74 points (0.67%) from the previous day.

By investor type, institutions and foreigners are net sellers with 69.9 billion KRW and 122.8 billion KRW respectively, while individuals are net buyers with 200.9 billion KRW supporting the index.

Most of the top market capitalization stocks are declining. Only EcoPro BM is up 0.41%, while EcoPro is down 1.05%, Celltrion Healthcare -0.78%, L&F -0.76%, HLB -0.4%, JYP Ent. -3.28%, and Celltrion Pharm -1.01% are weak.