KOSPI Closes Down 0.45% at 2620 Due to Foreign and Institutional Selling...

KOSPI Turns Down Despite 52-Week High
KOSDAQ Rises on Net Buying by Individuals and Foreigners

The KOSPI index closed lower due to net selling by foreigners and institutions.

[Image source=Yonhap News]

On the 12th, the KOSPI index closed at 2,629.35, down 11.81 points (0.45%) from the previous trading day. The index opened at 2,647.49, up 6.33 points (0.24%), and even rose to a 52-week high of 2,650.45. However, it turned downward during the session and fell as low as 2,623.43. While individual investors bought about 345.6 billion KRW worth of stocks alone, foreigners and institutions sold approximately 340.7 billion KRW and 15.9 billion KRW, respectively.

Among the top market capitalization stocks, Kia (-1.57%), Samsung Electronics (-1.39%), LG Chem (-0.80%), Samsung Biologics (-0.75%), POSCO Holdings (-0.63%), SK Hynix (-0.52%), and Hyundai Motor (-0.46%) declined in that order. Samsung SDI and LG Energy Solution rose by 0.68% and 0.49%, respectively. Naver (NAVER) remained flat.

By sector, securities (-1.26%), machinery (-1.13%), medical precision (-1.09%), paper & wood (-0.97%), transportation & warehousing (-0.97%), and pharmaceuticals (-0.77%) fell. Meanwhile, services (0.40%), telecommunications (0.37%), and steel & metals (0.16%) rose.

The KOSDAQ index closed higher due to buying pressure from individuals and foreigners. It ended the day at 885.76, up 2.05 points (0.23%) from the previous trading day. The index started higher but turned lower to 881.76 before closing higher again. Individuals and foreigners net bought about 13.9 billion KRW and 43.5 billion KRW, respectively, while institutions net sold about 24.8 billion KRW.

Among the top market capitalization stocks, L&F (4.40%), EcoPro (3.28%), Pearl Abyss (2.66%), JYP Ent. (0.91%), and EcoPro BM (0.56%) rose. On the other hand, HLB (-3.16%), Celltrion Pharm (-1.33%), Celltrion Healthcare (-1.11%), and Kakao Games (-0.38%) declined.

Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, "Ahead of major global stock market events this week, the domestic market saw profit-taking selling. Since mid-March, the won-dollar exchange rate, which had widened significantly, narrowed again."

On the day, the won-dollar exchange rate closed at 1,288.3 KRW, down 3.2 KRW from the previous day's closing price. This is the lowest level since March 23, when it was 1,278.3 KRW. With expectations prevailing that the U.S. Federal Open Market Committee (FOMC) regular meeting scheduled for the 14th (local time) will keep the benchmark interest rate unchanged, a wait-and-see stance appeared.

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