KOSPI Turns Down to 2850 Level as Foreigners Expand 'Sell' Orders

by Hwang Yoonju

Published 15 Jul.2024 09:31(KST)

Global stock markets, including the KOSPI, which had been rising toward the 2900 level, were expected to face adjustment pressure due to the Trump shooting incident. However, on the 15th, the KOSPI started with a rise of more than 10 points and then showed a slight fluctuation in a sideways trend. Various indices are displayed on the electronic board in the dealing room at the Seoul Hana Bank headquarters. Photo by Heo Younghan younghan@

On the 15th, the KOSPI index started higher but turned lower, battling around the 2850 level. Foreign investors showed a 'selling' trend in both major markets, weakening the buying momentum.

As of 9:17 AM, the KOSPI was trading at 2856.56, down 0.02% (0.44 points) from the previous trading day. The index opened at 2869.15, up 0.43% (12.15 points) from the previous close, but then turned downward.

Foreign investors alone sold a net 110.6 billion KRW, pulling the index down. They have increased their selling compared to early trading. Individuals and institutions are buying net amounts of 80.6 billion KRW and 24.9 billion KRW respectively, but it is not enough to offset the selling. In the futures market, foreign investors also sold a net 146.3 billion KRW, while individuals and institutions bought net 87.8 billion KRW and 81.1 billion KRW respectively.

Among the top 10 stocks by market capitalization, most are declining. LG Energy Solution is down 1.88%, KB Financial Group down 1.72%, and Kia down 1.24%. In contrast, semiconductor stocks Samsung Electronics and SK Hynix are up 0.24% and 0.43% respectively. NAVER is trading up 1.37% at 177,200 KRW.

As of 9:22 AM, the KOSDAQ index was trading at 849.52, down 0.10% (0.84 points) from the previous day. The index opened at 852.62, up 0.26% (2.25 points), but soon slipped. Foreign and institutional investors sold net 31.8 billion KRW and 19.7 billion KRW respectively, pushing the index down. Only individuals are net buyers with 59.2 billion KRW.

Among the top 10 KOSDAQ stocks by market capitalization, most are declining. Enchem is down 6.21%, Samchundang Pharmaceutical down 2.46%, Lino Industrial down 2.46%, and HPSP down 1.89%. Meanwhile, HLB is up 2.13%, EcoPro up 1.38%, and Alteogen up 1.10%.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate opened at 1377.0 KRW, up 1.2 KRW.