KOSPI and KOSDAQ Start Lower Together... Foreign and Institutional Selling Pressure
On the 6th, the domestic stock market opened lower.
As of 9:05 a.m. that day, the KOSPI index stood at 2,567.76, down 11.25 points (0.44%) from the previous trading day. Individual investors were net buyers of 132.3 billion KRW, while foreigners and institutions were net sellers of 76.5 billion KRW and 52.9 billion KRW, respectively.
Among the top market capitalization groups in the KOSPI market, Samsung Electronics was trading at 71,700 KRW, down 0.42% from the previous day. SK Hynix also declined 1.63% to 114,800 KRW, showing weakness in semiconductor stocks. LG Energy Solution (0.18%), Hyundai Motor (0.24%), and Kia (1.02%) showed slight gains.
Han Ji-young, a researcher at Kiwoom Securities, said, "The fact that the Chinese government decided to restrict exports of gallium and germanium used in semiconductors and other electronic devices caused U.S. semiconductor stocks to weaken, which could dampen investor sentiment for domestic semiconductor stocks that had adjusted the previous day." However, she added, "Considering that the outlook for a semiconductor industry turnaround remains valid after Samsung Electronics' Q2 earnings announcement and the expectation that tensions between the U.S. and China will ease to some extent following U.S. Treasury Secretary Janet Yellen's visit to China from the 6th to the 9th, the downward pressure on the domestic stock market, including semiconductors, is expected to be limited today."
At the same time, the KOSDAQ index was trading at 886.33, down 4.85 points (0.54%) from the previous day. In the KOSDAQ market, foreigners and institutions were net sellers of 54.2 billion KRW and 41.5 billion KRW, respectively, while individuals were net buyers of 105.5 billion KRW.
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The 'Ecopro' siblings, which hold the top market capitalization positions in the KOSDAQ, were both slightly up. Ecopro BM rose 0.18% to 282,000 KRW, and Ecopro increased 0.42% to 947,000 KRW. On the other hand, Celltrion Healthcare (-1.25%), HLB (-1.40%), Celltrion Pharm (-1.63%), and POSCO DX (-4.57%) were declining.
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