Domestic Stock Market Closes Down Over 1% Amid Foreign and Institutional Selling

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] The domestic stock market showed a decline of over 1% due to simultaneous selling by foreign and institutional investors.

On the 17th, the KOSPI closed at 2406.17, down 1.22% (29.75 points) from the previous session. The KOSPI opened at 2430.77, down 0.21% (5.15 points) from the previous session, fluctuating around the 2430 level. Due to selling pressure from institutions and foreigners, the market briefly fell below the 2400 level.

By investor type, foreigners and institutions net sold 127 billion KRW and 333.9 billion KRW respectively. Meanwhile, individuals purchased stocks worth 458.1 billion KRW.

Among the top market capitalization stocks, Samsung Electronics traded at 59,500 KRW, down 2.46% from the previous session. Samsung Biologics (-2.45%), NAVER (-2.12%), and LG Chem (-6.11%) also declined. On the other hand, SK Hynix (0.86%) and Hyundai Motor (0.27%) rose.

The KOSDAQ closed at 885.18, down 1.24% (11.10 points) from the previous session. The index opened at 897.88, up 0.18% (1.60 points) from the previous session, but turned downward early in the session.

The KOSDAQ market also saw simultaneous selling by foreigners and institutions, who net sold 31.2 billion KRW and 172.7 billion KRW respectively. Individuals, however, net bought stocks worth 224.1 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare traded at 98,100 KRW, down 1.60% from the previous session. Alteogen (-4.79%) and Kakao Games (-2.56%) also recorded declines. Seegene and HL Biotech rose by 0.56% and 4.09%, respectively.