KOSPI Falls to 2680 Level on Foreign Selling... Semiconductor Stocks ↓

by Hwang Yoonju

Published 27 Aug.2024 16:30(KST)

Updated 28 Aug.2024 07:38(KST)

[Image source=Yonhap News]

The KOSPI and KOSDAQ closed lower on the 27th. The KOSPI slipped to the 2680 level amid foreign investors' selling pressure. Ahead of NVIDIA's earnings announcement on the 28th (local time), cautious sentiment grew, leading major semiconductor stocks to finish in the red.

The KOSPI closed at 2689.25, down 0.32% (8.76 points) from the previous trading day. It opened at 2696.24, down 0.07% (1.77 points) from the previous close, and then widened its losses.

Foreign selling was prominent. Individual and foreign investors net sold 2.8 billion KRW and 408.8 billion KRW, respectively. Only institutions net bought 369.3 billion KRW. In the futures market, foreigners alone net bought 211 billion KRW, while individuals and institutions net sold 5.3 billion KRW and 206.6 billion KRW, respectively.

Among the top 10 stocks by market capitalization, notable declines included Shinhan Financial Group -2.77%, SK Hynix -2.56%, and Celltrion -2.20%. Only Samsung Biologics +1.14% and POSCO Holdings +0.29% closed higher.

The KOSDAQ closed at 764.95, down 0.24% (1.84 points) from the previous trading day. It opened at 765.10, down 0.22% (1.69 points) from the previous close. Foreign and institutional investors net sold 1.6 billion KRW and 77.9 billion KRW, respectively. Only individuals net bought 86.8 billion KRW.

Among the top 10 stocks by market capitalization, HLB -2.92%, Ligand Chem Bio -2.45%, and EcoPro BM -2.13% declined. Only Samchundang Pharmaceutical +5.73%, Alteogen +0.80%, and Classys +0.75% closed higher.