by Cha Minyoung
Published 15 Mar.2024 09:37(KST)
The KOSPI index fell to the low 2680s in early trading on the 15th due to foreign selling pressure. This came just one day after reclaiming the 'magical 2700 level' the previous day.
As of 9:25 a.m., the KOSPI index stood at 2684.92, down 33.84 points (1.24%) from the previous close. The index started lower and widened its losses.
Currently in the KOSPI market, foreigners are net sellers of 227.3 billion KRW, while individuals and institutions are net buyers of 199 billion KRW and 21.2 billion KRW respectively. Program trading also shows a net selling bias when combining arbitrage and non-arbitrage trades.
By sector, retail (-3.30%), transportation and warehousing (-2.40%), electrical and electronics (-1.86%), manufacturing (-1.22%), services (-1.12%), finance (-1.03%), machinery (-0.98%), and telecommunications (-0.92%) are all in decline.
Among the top market cap stocks, 8 out of 10 are weak. Samsung Electronics fell 1.62%, and SK Hynix dropped 1.30%. LG Energy Solution is showing a decline in the 3% range, marking a significant drop.
At the same time, the KOSDAQ index is also down 10.21 points (1.15%) at 877.31. The KOSDAQ index started lower and widened its losses as well.
In the KOSDAQ market, foreigners and institutions are net sellers of 73.9 billion KRW and 40.2 billion KRW respectively, while individuals are net buyers of 118.1 billion KRW.
In the market today, with the U.S. stock market closing lower due to a producer price index (PPI) shock and weak consumer indicators, the domestic market was also expected to start lower.
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