KOSPI Falls to 2320 Level Amid Net Selling by Foreigners and Institutions

On the 23rd, the KOSPI index opened at 2,352.56, up 19.97 points (0.86%) from the previous trading day, showing a strong upward trend. Dealers are working in the Hana Bank dealing room in Euljiro on this day. Photo by Moon Honam munonam@

[Asia Economy Reporter Geum Bo-ryeong] On the afternoon of the 23rd, the KOSPI index showed a downward trend due to net selling by foreign and institutional investors.

As of 1:25 PM that day, the KOSPI index was at 2326.33, down 6.26 points (0.27%) from the previous session.

The KOSPI opened at 2352.56, up 19.97 points (0.86%) from the previous trading day, and seemed to continue its strong performance, but turned downward around 9:32 AM.

In the KOSPI market, foreigners and institutions net sold 73.8 billion KRW and 280.5 billion KRW respectively, while individuals net bought 346.2 billion KRW.

By sector, chemicals (down 1.07%) and telecommunications (down 1.08%) declined, while paper & wood (up 1.61%) and distribution (up 0.47%) rose.

Among the top 10 companies by market capitalization, Samsung Electronics (down 0.34%), Samsung Biologics (down 2.46%), LG Chem (down 1.56%), and Hyundai Motor (down 0.56%) fell, while SK Hynix (up 1.97%), NAVER (up 2.64%), and Kakao (up 2.97%) rose.

At the same time, the KOSDAQ was at 844.47, up 1.75 points (0.21%) from the previous day.

The KOSDAQ opened at 855.57, up 12.85 points (1.52%) from the previous trading day, fluctuated throughout the morning, and then expanded its gains from 1:04 PM.

In the KOSDAQ market, individuals and foreigners net bought 103.4 billion KRW and 34.6 billion KRW respectively, while institutions net sold 123.2 billion KRW.

By sector, non-metallic minerals (up 0.51%), medical & precision instruments (up 1.24%), and semiconductors (up 1.68%) rose, while paper & wood (down 1.89%) and metals (down 0.6%) declined.

Among the top market cap companies, Celltrion Healthcare (up 1.54%), Seegene (up 1.26%), Kakao Games (up 1.43%), Celltrion Pharm (up 0.81%), and Genexine (up 2.89%) rose.