Foreigners and Institutions Selling... KOSPI Declines for 8 Consecutive Trading Days

by Kim Daehyun

Published 12 Jan.2024 10:52(KST)

The KOSPI index declined on the 12th due to selling pressure from foreigners and institutions.

As of 10:40 a.m. that day, the KOSPI index was trading at 2,532.11, down 8.16 points (-0.82%) from the previous trading day. The KOSPI index opened at 2,536.55, down 3.72 points (0.15%), and has not rebounded. Foreigners and institutions sold 158.3 billion KRW and 6.1 billion KRW worth of stocks, respectively. Individuals were net buyers with 170.4 billion KRW.

Dealers are working in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

Among the top market capitalization stocks, POSCO Future M (-3.26%), EcoPro (-2.47%), Samsung SDI (-2.16%), EcoPro BM (-2.12%), LG Chem (-1.52%), and POSCO Holdings (-1.11%) were declining. Samsung Electronics (0.84%), Samsung Electronics Preferred (0.41%), and Samsung C&T (0.33%) were rising.

By sector, transportation and warehousing (1.36%), insurance (1.36%), electric and gas utilities (0.27%), wholesale and retail trade (0.11%), and telecommunications (0.02%) rose. Except for these, most sectors such as medical precision instruments (-1.14%), steel and metals (-1.08%), textiles and apparel (-0.99%), and chemicals (-0.95%) were declining.

On the 11th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 37,711.02, up 15.29 points (0.04%) from the previous session. The S&P 500 index fell 3.21 points (0.07%) to 4,780.24, and the Nasdaq index closed at 14,970.18, up 0.54 points (0.00%). The U.S. stock market experienced increased volatility from the start of trading as the Consumer Price Index (CPI) exceeded market expectations, but later eased as the perception that the inflation (price increase) downward trend remains valid and mixed comments from Federal Reserve (Fed) officials regarding the CPI created both upward and downward factors. In the S&P 500, all nine sectors except technology and energy stocks declined.

At the same time, the KOSDAQ index fell 12.29 points (1.39%) to 870.24 compared to the previous session. The index opened at 878.69, down 3.84 points (0.44%), and widened its losses. Foreigners and institutions were net sellers of 114.9 billion KRW and 96.7 billion KRW, respectively. Individuals bought 208.4 billion KRW.

Among the top market capitalization stocks, LS Materials (8.02%), Dongjin Semichem (2.02%), Alteogen (1.6%), Soulbrain (1.19%), Celltrion Pharm (0.83%), L&F (0.74%), Rainbow Robotics (0.74%), and HPSP (0.71%) were on the rise. On the other hand, Wemade (-7.10%), L&F (-5.11%), SM Entertainment (-3.67%), Lunit (-3.15%), Pearl Abyss (-3.02%), HLB (-2.89%), and EcoPro (-2.16%) were falling.