KOSDAQ Rises 0.8%... Recovers to 950 Level
[Asia Economy Reporter Minwoo Lee] The KOSPI, which briefly recovered above the 3000 mark in the morning, ultimately closed below 3000. The index fell due to consecutive sell-offs by foreigners and institutions.
On the 24th, the KOSPI closed at 2996.35, down 0.28% (8.39 points) from the previous day. Although it briefly regained the 3000 level in the morning, it could not maintain it and fell back to the 2900 level.
The index appears to have been dragged down by the combined selling pressure from foreigners and institutions. They sold a net amount of 478.7 billion KRW and 433.6 billion KRW, respectively. Meanwhile, individual investors bought a net 897.5 billion KRW worth of shares that day. This trend has continued since the 19th. During this period, foreigners and institutions sold 2.0825 trillion KRW and 2.0098 trillion KRW, respectively. In the same period, individuals bought a net 4.0999 trillion KRW worth of shares.
Many sectors declined. Steel & Metals (-1.64%), Banks (-1.35%), Transportation Equipment (-1.31%), and Textiles & Apparel (-1.14%) were among the sectors that fell. On the other hand, Non-metallic Minerals (2.54%), Medical Precision (1.46%), and Chemicals (1.08%) rose.
Among the top 10 companies by market capitalization, more stocks rose than fell. Celltrion rose the most at 2.5%. This was followed by Samsung SDI (1.7%), LG Chem (1.1%), Samsung Biologics (0.4%), Kakao (0.3%), and NAVER (0.2%). Meanwhile, Hyundai Motor (-2.4%), Kia (-2.0%), SK Hynix (-1.1%), and Samsung Electronics (-0.9%) declined.
Meanwhile, the KOSDAQ closed at 953.82, up 0.79% (7.51 points) from the previous day. It started slightly down at 946.23 and fell to 939.19 but soon began to rebound. In the afternoon, it maintained above 950 and closed higher.
In the KOSDAQ market, foreigners and institutions were actually buying. They bought a net 85.4 billion KRW and 85.9 billion KRW, respectively. In contrast, individuals sold a net 151.1 billion KRW.
Almost all sectors rose. Non-metallic (2.32%), Publishing & Media Replication (1.94%), Entertainment & Culture (1.82%), and Digital Content (1.75%) were among the sectors that increased. Transportation Equipment & Parts (-0.89%) and Broadcasting Services (-0.13%) declined.
Among the top 10 companies by market capitalization, most stocks rose. Pearl Abyss had the largest gain at 3.4%. This was followed by Celltrion Healthcare (2.1%), SK Materials (1.6%), Celltrion Pharm (1.0%), EcoPro BM (0.3%), and Kakao Games (0.3%). Alteogen (-2.6%), CJ ENM (-0.7%), Studio Dragon (-0.4%), and Seegene (-0.1%) declined.
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