KOSPI Starts Slightly Lower... Foreigners and Institutions Selling Pressure
On the 23rd, the domestic stock market started off slightly lower.
As of 9:10 AM, the KOSPI index stood at 2,510.21, down 5.53 points (0.22%) from the previous trading day. Institutions and foreigners were net sellers of 68.2 billion KRW and 7 billion KRW respectively, while individuals were net buyers of 75.9 billion KRW.
Among the top market capitalization stocks on the Korea Exchange, all stocks except Samsung Electronics (0.15%) were either flat or declining. NAVER was trading down 1.58% at 217,000 KRW, and SK Hynix (-1.20%) and Samsung SDI (-1.17%) were also weak.
Lee Kyung-min, a researcher at Daishin Securities, said, "Risks will continue to affect the stock market until the Jackson Hole meeting, leading to a differentiated market trend. The market direction will be determined by how the market accepts the results of the Jackson Hole meeting and the ‘prolongation’ of the high interest rate environment."
At the same time, the KOSDAQ index was trading at 890.22, down 3.11 points (0.35%) from the previous day. Foreigners and institutions were net sellers of 58.7 billion KRW and 19.6 billion KRW respectively, while individual investors were net buyers of 80.4 billion KRW.
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Among the top market capitalization stocks on KOSDAQ, entertainment stocks such as SM (3.98%) and JYP Ent. (2.48%) showed early gains. On the other hand, Pearl Abyss (-7.41%), POSCO DX (-3.05%), and EcoPro BM (-2.96%) were weak.
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