KOSPI Declines Amid Net Selling by Foreigners and Institutions

[Asia Economy Reporter Minji Lee] The KOSPI index turned lower due to net selling by foreigners and institutions.

As of 9:13 a.m. on the 5th, the KOSPI stood at 3,108.76, down 0.13% (4.04 points) from the previous trading day. The KOSPI opened at 3,121.21, up 0.27% (8.43 points) from the previous day, but then turned lower. Looking at investor trends, institutions sold stocks worth 147 billion KRW, and foreigners sold stocks worth 44.1 billion KRW. Individuals were the only buyers, purchasing stocks worth 193.7 billion KRW.

Among the top market capitalization stocks, Samsung Electronics rose 0.59% to 85,300 KRW compared to the previous day. SK Hynix (1.06%), LG Chem (0.24%), and Kakao (0.20%) also increased. On the other hand, Hyundai Motor (-0.43%), Samsung Biologics (-1.48%), and Samsung SDI (-1.50%) declined.

At the same time, the KOSDAQ index stood at 967.63, down 0.25% (2.46 points) from the previous trading day. The KOSDAQ opened at 971.04, up 0.10% (0.95 points) from the previous day, but then turned lower. Regarding investor trends, institutions and foreigners sold stocks worth 1.2 billion KRW and 42.1 billion KRW, respectively. Individuals were the only buyers, purchasing stocks worth 44 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare (-1.35%), Celltrion Pharm (-0.80%), Pearl Abyss (-0.95%), and HL Biopharma (-2.84%) also declined.

Seojung Hoon, a researcher at Samsung Securities, said, “The domestic stock market is entering the full earnings season starting with Samsung Electronics’ preliminary earnings announcement, and there is much room for improvement in the earnings of domestic companies going forward.” He added, “Investment sentiment is expected to improve for stocks benefiting from the resumption of economic activities such as retail, travel, and leisure.”