KOSPI Reverses to Decline on Foreign Selling... Closes Down 0.9%

The KOSPI index closed lower, pressured by foreign selling.

On the 8th, the KOSPI index closed at 2,421.62, down 22.34 points (0.91%) from the previous day. Trading volume was 461.3 million shares, and the trading value was tentatively estimated at 7.5457 trillion KRW.

By investor type, institutions were net buyers with 75.5 billion KRW, while foreigners and individuals were net sellers with 13.8 billion KRW and 27.2 billion KRW, respectively. Program trading saw net buying of 10 billion KRW in arbitrage trading and net selling of 39.8 billion KRW in non-arbitrage trading.

On the 8th, the KOSPI index closed at 2,421.62, down 22.34 points (0.91%) from the previous day, as dealers were working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul. On the same day, the KOSDAQ closed at 811.02, down 13.15 points (1.62%) from the previous day. Photo by Jinhyung Kang aymsdream@

The previous day, the New York stock market rose slightly despite Federal Reserve officials leaving the door open for further rate hikes, due to a decline in Treasury yields. Accordingly, the KOSPI index started higher but turned lower amid foreign selling and continued a weak trend.

More sectors declined than rose. The chemical sector fell 1.8%, insurance -1.74%, electrical and electronics -1.58%, steel and metals -1.54%, transportation equipment -1.52%, manufacturing -1.33%, and machinery -0.97% showed weakness. On the other hand, the medical precision sector rose 2.06%, electric and gas utilities 1.61%, services 0.96%, and transportation and warehousing 0.81% increased.

Most of the top market capitalization stocks showed weakness. Samsung Electronics fell 1.41%, LG Energy Solution -1.24%, SK Hynix -2.15%, POSCO Holdings -1.72%, Hyundai Motor -0.74%, and LG Chem -2.85%. Meanwhile, Samsung Biologics rose 0.27%, and Celltrion also increased by 1.22%.

The KOSDAQ index also continued its weakness. The KOSDAQ index closed at 811.02, down 13.35 points (1.62%) from the previous day. By investor type, institutions and foreigners were net buyers with 5.5 billion KRW and 32.1 billion KRW, respectively, while individuals were net sellers with 45.5 billion KRW.

Among the top market capitalization stocks, the decline in secondary battery-related stocks was notable. EcoPro BM and EcoPro fell 10.19% and 14.2%, respectively, while POSCO DX -4.68%, L&F -3.71% also showed weakness. HLB -2.44%, JYP Ent. -0.67%, and Alteogen -7.22% also declined. On the other hand, Celltrion Healthcare rose 1.3%, and Pearl Abyss closed strong with a 2.77% gain.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1,310.6 won, up 2.7 won from the previous day.

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