KOSPI Hits 2340 Level... Foreigners and Institutions Net Sell

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] On the 22nd, the KOSPI showed a downward trend in the early session due to selling pressure from foreign and institutional investors.

As of 9:50 a.m. that day, the KOSPI stood at 2349.68, down 21.18 points (0.89%) from the previous trading day. The index opened at 2355.61, down 15.25 points (0.64%) from the previous close, and continued its weak trend.

Sang-young Seo, a researcher at Kiwoom Securities, said, "The U.S. stock market showed a tendency to focus on negotiations as uncertainties regarding additional stimulus measures persist," adding, "The domestic stock market is expected to show a stock-specific market sensitive to individual stock issues such as earnings announcements amid an overall process of digesting selling pressure."

Looking at trading trends by participant, individual investors net bought 156.1 billion KRW. Foreigners and institutions net sold 66.4 billion KRW and 93.4 billion KRW, respectively.

Among the top market capitalization stocks, all stocks showed a decline except LG Chem, which rose alone by 2.59%.

At the same time, the KOSDAQ index stood at 823.53, down 7.14 points (0.86%) from the previous close. The index opened at 826.71, down 3.96 points (0.48%) from the previous close, and continued its downward trend.

In terms of supply and demand, individual investors net bought 72.4 billion KRW, while foreign and institutional investors net sold 25.5 billion KRW and 43.0 billion KRW, respectively.

Among the top market capitalization stocks, Seegene and Kakao Games are rising. On the other hand, Celltrion Healthcare, HLB, and Alteogen declined.