KOSDAQ Turns Upward on Foreign Net Buying... KOSPI Declines

[Asia Economy Reporter Minji Lee] The KOSDAQ index is showing an upward trend due to net buying by foreigners and individual investors.

[Image source=Yonhap News]

At 12:10 PM on the 21st, the KOSDAQ index stood at 950.12, up 0.3% (2.80 points) from the previous trading day. The KOSDAQ index started the day higher but briefly turned to a 0.5% decline during the session; however, it is now rising as foreigners switched to net buying. Looking at investor trends, individuals and foreigners net bought stocks worth 81.4 billion KRW and 86.2 billion KRW respectively, while institutions alone sold stocks worth 86.6 billion KRW.

In the KOSDAQ market, Celltrion Healthcare (5.83%), Celltrion (0.49%), HL Biopharma (1.84%), and EcoPro BM (1.17%) rose. Seegene (-2.82%) and Alteogen (-1.82%) declined.

At the same time, the KOSPI index was at 2,761.95, down 0.37% (10.23 points) from the previous session. The KOSPI initially showed a rise of over 0.1% but soon widened its losses. In the KOSPI market, individuals alone bought stocks worth 314.1 billion KRW, while foreigners and institutions net sold stocks worth 136.4 billion KRW and 138.4 billion KRW respectively.

In the KOSPI market, LG Chem (0.49%), Samsung Biologics (1.12%), Celltrion (2.25%), Naver (0.18%), and Kakao (2.32%) rose.

Lee Kyung-min, a researcher at Daishin Securities, explained, “Although news came that the US economic stimulus bill passed Congress, this implies a weakening influence of positive factors. Considering the strengthened lockdown measures in Europe and the US and the Q4 corporate earnings, volatility may increase again toward the end of this year.”