KOSDAQ Turns Lower Intraday on Foreign and Institutional Net Selling
"Focus on Neglected Sectors Amid Strong US Employment Data and Economic Recovery Hopes"
[Asia Economy Reporter Minji Lee] The KOSPI is maintaining an upward trend due to net buying by foreigners and individuals.
On the 8th, at 10:26 AM, the KOSPI stood at 3,038.21, up 0.39% (11.95 points) from the previous trading day. The index opened at 3,031.99, up 0.19% (5.73 points) from the previous day, and has maintained its upward momentum.
Looking at investor trends, foreigners and individuals bought stocks worth 38.7 billion KRW and 25 billion KRW respectively. Foreigners switched to net buying, while individuals reduced their net buying scale. Institutions alone sold stocks worth 59.7 billion KRW, increasing their net selling volume.
Among the top 10 market capitalization stocks, only NAVER rose by 0.79%. Following a sharp decline in electric vehicle-related companies such as Tesla in the US stock market last Friday, LG Chem (-0.44%), Hyundai Motor (-0.43%), and Samsung SDI (-1.64%) also fell.
Financial stocks showed an upward trend. KB Financial Group (5%), Shinhan Financial Group (2.5%), Hana Financial Group (3.6%), and Woori Financial Group (2.6%) also rose.
The KOSDAQ index at the same time was at 923.33, down 0.02% (0.15 points) from the previous trading day. The index opened at 925.19, up 0.19% (1.71 points) from the previous day, but then turned downward.
Regarding investor trends, individuals alone bought stocks worth 109 billion KRW. Foreigners and institutions increased their net selling after the market opened, selling stocks worth 88.1 billion KRW and 16.8 billion KRW respectively.
Among the top market capitalization stocks, Kakao Games (0.98%), SK Materials (3.9%), and Seegene (3.17%) also rose. Celltrion Healthcare (-0.85%), Celltrion Pharm (-0.57%), and Pearl Abyss (-1.54%) declined.
Securities experts advise expanding interest in stocks expected to rise in line with the real economy rebound, as expectations for economic recovery have increased following last month's improvement in US employment data.
Park Sung-woo, a researcher at DB Financial Investment, said, "Considering the speed of vaccine distribution and the strength of economic rebound by country, the expected returns of developed countries' stock markets will be higher than those of emerging markets," adding, "It is worth paying attention to the contact industry, which was neglected during last year's global stock market rebound."
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