KOSPI Falls Below 3200, KOSDAQ Embarks on a New Path

Foreign Investors, Who Had Bought Net for 4 Consecutive Days, Turn to Net Selling
KOSDAQ Closes at 1029... Highest Since September 6, 2000
Foreigners and Institutions Both Drive Buying Inflow

On the morning of the 19th, an employee is working in the dealing room of Hana Bank in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI closed below 3200 after failing to maintain its intraday gains. Meanwhile, the KOSDAQ steadily maintained its upward trend, recording its highest closing price in over 20 years.

On the 19th, the KOSPI closed at 3198.84, up 0.01% (0.22 points) from the previous trading day. After a firm start at 3201.11, it rose to 3214.45 but gave back gains in the afternoon, eventually falling below 3200.

Individual investors were the sole net buyers with 390.4 billion KRW. Foreigners and institutions were net sellers of 300.9 billion KRW and 116.3 billion KRW, respectively. Foreign investors, who had been net buyers for four consecutive trading days, turned to selling.

The number of rising and falling sectors was similar. Transportation and warehousing (1.89%), steel (1.60%), pharmaceuticals (1.10%), and insurance (0.82%) rose, while securities (-1.08%), transportation equipment (-0.47%), and services (-0.46%) declined.

Most of the top 10 market capitalization stocks fell. LG Chem had the largest drop at -1.7%, followed by Kia (-1.3%), Samsung SDI (-0.8%), Samsung Electronics (-0.7%), Hyundai Motor (-0.6%), NAVER (-0.3%), and Samsung Biologics (-0.1%). Only Celltrion (0.4%) and SK Hynix (0.3%) rose.

In contrast, the KOSDAQ maintained its upward momentum until the close. It ended at 1029.46, up 0.77% (7.84 points) from the previous day. This is the highest closing price since September 6, 2000, when it reached 1074.10. After opening slightly higher at 1022.06, it steadily climbed.

In the KOSDAQ market, foreigners and institutions were net buyers of 91.7 billion KRW and 59.3 billion KRW, respectively. Individuals were net sellers of 110.6 billion KRW.

Many sectors rose, including chemicals (1.14%), distribution (1.13%), non-metallic minerals (1.04%), and general electrical and electronics (0.91%). Financials (-1.52%) and entertainment & culture (-1.32%) declined.

Most of the top 10 market capitalization stocks rose. Seegene had the largest gain at 5.2%, followed by Celltrion Pharm (2.8%), Pearl Abyss (2.2%), Celltrion Healthcare (1.8%), EcoPro BM (1.4%), CJ ENM (1.2%), SK Materials (0.7%), HL Biopharma (0.4%), and Kakao Games (0.3%). Alteogen was the only stock to fall, down -0.8%.