Fell to 3125.90 by 9:15 AM
KOSDAQ Starts Up 0.09%... Turns Downward from 9:04 AM
[Asia Economy Reporter Gong Byung-sun] The KOSPI opened lower due to selling pressure from institutions and foreigners in the early session. It is showing slight fluctuations around the 3120 level.
On the 8th, the KOSPI opened at 3137.25, down 0.01% (0.16 points) from the previous day. It later dropped to 3125.90 at 9:15 a.m.
The selling by institutions and foreigners is interpreted as the main factor driving the index down. Foreigners and institutions net sold 41.9 billion KRW and 189.9 billion KRW, respectively. Individuals net bought 231.1 billion KRW.
Most sectors declined. Securities had the largest drop at -1.24%. This was followed by pharmaceuticals (-0.65%), finance (-0.62%), food and beverage (-0.59%), and electrical and electronics (-0.57%). Meanwhile, medical precision (0.94%), insurance (0.69%), services (0.63%), electricity and gas (0.34%), and steel and metals (0.25%) rose.
Among the top 10 stocks by market capitalization, many are falling. Samsung Electronics had the largest decline at -1.05%. This was followed by Kia (-0.94%), Hyundai Motor (-0.87%), LG Chem (-0.86%), Samsung Biologics (-0.78%), and Celltrion (-0.65%). Kakao (3.14%), NAVER (0.39%), and Samsung SDI (0.31%) rose. SK Hynix remained flat.
At the same time, the KOSDAQ opened higher. It started at 974.14, up 0.09% (0.92 points) from the previous day. However, it turned downward after 9:04 a.m., dropping to 969.53 at 9:21 a.m.
Again, foreigners and institutions are selling heavily. Foreigners and institutions sold 47.6 billion KRW and 7.8 billion KRW, respectively. Individuals net bought 54.9 billion KRW.
Most sectors declined. Finance had the largest drop at -1.47%, followed by publishing/media replication (-1.11%), transportation (-1.10%), transportation equipment/parts (-1.06%), and non-metal (-0.88%). Paper/wood (2.38%), chemicals (1.31%), metals (0.32%), and broadcasting services (0.14%) rose.
The top 10 stocks by market capitalization showed mixed results. Kakao Games (2.21%), Studio Dragon (0.94%), EcoPro BM (0.36%), HLB (0.14%), and Seegene (0.07%) rose. Conversely, SK Materials (-1.78%), Pearl Abyss (-1.62%), Celltrion Pharm (-1.05%), Celltrion Healthcare (-0.55%), and CJ ENM (-0.14%) fell.
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