KOSPI and KOSDAQ Fall Over 1% Amid Foreign and Institutional Selling

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The domestic stock market showed a decline of over 1% due to simultaneous selling by foreigners and institutions.

As of 1:18 PM on the 17th, the KOSPI recorded 2405.09, down 1.27% (30.83 points) from the previous session. The KOSPI opened at 2430.77, down 0.21% (5.15 points) from the previous session, and fluctuated around the 2430 level.

By investor type, foreigners and institutions sold a net amount of 126.2 billion KRW and 264.1 billion KRW respectively. Meanwhile, individuals purchased stocks worth 379.9 billion KRW.

Among the top market capitalization stocks, Samsung Electronics traded at 59,600 KRW, down 2.30% from the previous session. Samsung Biologics (-2.19%), NAVER (-2.12%), and LG Chem (-6.26%) also declined.

At the same time, the KOSDAQ index traded at 885.06, down 1.25% (11.22 points) from the previous session. The KOSDAQ index opened at 897.88, up 0.18% (1.60 points) from the previous session, but turned downward in the early session.

The KOSDAQ market also saw net selling by foreigners and institutions, who sold stocks worth 78.3 billion KRW and 128.1 billion KRW respectively. On the other hand, individuals bought a net amount of 221.2 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare traded at 98,600 KRW, down 1.10% from the previous session. Alteogen (-3.02%) and Kakao Games (-2.11%) also showed downward trends.