Domestic Stock Market Drops by 1%... Foreigners and Institutions Sell Off Together

[Image source=Yonhap News]

[Asia Economy Reporter Park Ji-hwan] On the afternoon of the 22nd, the KOSPI showed a decline of over 1% due to simultaneous selling by foreign and institutional investors.

As of 1:54 PM that day, the KOSPI stood at 2344.21, down 26.65 points (1.12%) from the previous trading day. The index opened at 2355.61, down 15.25 points (0.64%) from the previous close, and the decline has been widening since.

Looking at trading trends by participant, individuals net bought 256.4 billion KRW. Foreigners and institutions net sold 105.2 billion KRW and 152.5 billion KRW, respectively.

Among the top market capitalization stocks, LG Chem alone rose 2.59%, while all other stocks showed a downward trend.

At the same time, the KOSDAQ index was at 814.91, down 15.76 points (1.90%) from the previous close. The index opened at 826.71, down 3.96 points (0.48%) from the previous close, and the decline widened to nearly 2%.

In terms of supply and demand, individual investors net bought 237.2 billion KRW, while foreign and institutional investors net sold 98.0 billion KRW and 132.0 billion KRW, respectively.

Among the top market capitalization stocks, only Hugel rose 6.77%, while all other stocks declined.