KOSPI Falls on Net Selling by Foreigners and Institutions... KOSDAQ Closes Higher

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI closed slightly lower due to net selling by foreigners and institutions. Meanwhile, the KOSDAQ index showed an intraday rise of over 1%, driven by net buying from foreign investors.

On the 9th, the KOSPI ended the session at 3,131.88, down 0.36% (11.38 points) from the previous trading day. The KOSPI opened at 3,147.51, up 0.10% (3.25 points) from the previous day, but turned downward during the session, dropping to the 3,120 level. Looking at investor trends, individuals were the sole net buyers. Individuals purchased stocks worth 725.9 billion KRW in the KOSPI market, while foreigners and institutions sold stocks worth 324.9 billion KRW and 411.1 billion KRW, respectively.

Among the top market capitalization stocks, NAVER (0.5%), LG Chem (0.2%), Samsung Biologics (0.9%), Kakao (1.8%), and Samsung SDI (0.9%) rose, while Samsung Electronics and SK Hynix fell by 1.3% and 2.7%, respectively.

The KOSDAQ index closed at 989.39, up 0.75% (7.37 points) from the previous trading day. The index started at 983.40, up 0.14% (1.38 points), and rose over 1% intraday, reaching as high as 991.17. Regarding investor trends, individuals and institutions sold stocks worth 15 billion KRW and 36.4 billion KRW, respectively, while foreigners purchased stocks worth 51.3 billion KRW.

Among the top market capitalization stocks, Celltrion Pharm (0.1%), Seegene (1.3%), Pearl Abyss (1.2%), and EcoPro BM (0.3%) rose. Celltrion Healthcare (-0.7%), Kakao Games (-0.9%), and HL Biopharma (-0.4%) declined.

Lee Kyung-min, a researcher at Daishin Securities, explained, "The sharp rise in China's producer prices in March likely had a negative impact on investor sentiment. However, since the inflationary pressure was already priced into the market, there was no significant drop." He added, "The KOSDAQ index is attempting to break through the 990 level on net buying by foreigners, with strong performance in sectors such as digital content (2.14%), internet (1.91%), and pharmaceutical bio (1.83%)."