KOSPI Starts Lower Amid Selling Pressure from Institutions and Foreigners

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 1st, the KOSPI opened slightly lower due to selling by foreigners and institutions.

As of 9:26 AM, the KOSPI was at 1748.06, down 5.88 points (0.34%) from the previous session. The KOSPI opened at 1737.28, down 17.36 points (0.99%) compared to the previous trading day (1754.64).

In the securities market that day, individuals were net buyers with 162.1 billion KRW. On the other hand, foreigners and institutions were net sellers with 55.2 billion KRW and 105.1 billion KRW, respectively.

By sector, food and beverages (2.67%), pharmaceuticals (0.22%), and machinery (1.02%) rose, while chemicals (-0.28%) and electrical and electronics (-0.48%) declined.

Most of the top market capitalization companies were on a downward trend. Samsung Electronics (-0.42%) and SK Hynix (-0.84%) fell. Meanwhile, Hyundai Motor and Samsung SDI rose slightly by 0.45% and 0.62%, respectively.

At the same time, the KOSDAQ index was at 575.17, up 6.12 points (1.08%) from the previous session. The KOSDAQ opened at 568.88, down 0.19 points (0.03%) compared to the previous trading day (569.07).

In the KOSDAQ market, individuals were net buyers with 53.4 billion KRW, while foreigners and institutions were net sellers with 39.6 billion KRW and 11.6 billion KRW, respectively.

By sector, IT composite (2.16%), construction (1.11%), and distribution (2.09%) rose.

Among the top 10 companies by market capitalization, Celltrion Healthcare (1.11%) and HL Biotech (2.67%) rose, while Seegene (-12.15%) and Celltrion Pharm (-9.26%) experienced significant declines.