Foreigners and Institutions 'Sell-off'... KOSPI Drops Over 1%

KOSDAQ Falls to 1010 Level

On the 20th, the KOSPI index and the KRW-USD exchange rate are displayed on the electronic board in the dealing room of Hana Bank in Euljiro, Jung-gu, Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Gong Byung-sun] Despite individuals net buying over 2 trillion won, the KOSPI fell more than 1% due to selling pressure from foreigners and institutions. It even dropped to the 3160 level.

As of 2 PM on the 21st, the KOSPI recorded 3171.17, down 1.54% (49.53 points) from the previous trading day. It had fallen to 3165.49 at 12:50 PM that day.

The decline is interpreted as being driven by selling from foreigners and institutions. Foreigners and institutions sold 988.4 billion won and 1.1293 trillion won respectively. Individuals net bought 2.1307 trillion won.

All sectors except paper and wood declined. The insurance sector had the largest drop at -2.10%. This was followed by textiles and apparel (-2.20%), transportation equipment (-2.05%), distribution (-1.96%), and medical precision (-1.93%). Paper and wood rose by 1.09%.

Except for Samsung Biologics, all of the top 10 stocks by market capitalization fell. SK Hynix had the largest decline at -2.89%. This was followed by Celltrion (-2.67%), Samsung SDI (-2.61%), LG Chem (-2.58%), Kia (-2.44%), NAVER (-2.43%), Hyundai Motor (-1.97%), Kakao (-1.67%), and Samsung Electronics (-1.31%). Samsung Biologics remained flat.

At the same time, the KOSDAQ recorded 1020.86, down 1.07% (11.02 points) from the previous trading day. It had fallen to 1019.59 at 11:42 AM that day.

Again, selling pressure from foreigners and institutions led to the index decline. Foreigners and institutions net sold 136.6 billion won and 109 billion won respectively. Individuals net bought 278.2 billion won.

Most sectors declined. Distribution had the largest drop at -2.26%, followed by computer services (-1.77%), semiconductors (-1.52%), machinery and equipment (-1.39%), and internet (-1.34%). Transportation (0.72%), telecommunications services (0.67%), publishing and media reproduction (0.50%), and information devices (0.35%) rose.

Except for Seegene, all of the top 10 stocks by market capitalization fell. Celltrion Healthcare had the largest decline at -3.31%, followed by Pearl Abyss (-3.30%), Celltrion Pharm (-2.91%), SK Materials (-2.80%), Alteogen (-2.76%), Kakao Games (-2.43%), CJ ENM (-1.88%), EcoPro BM (-1.74%), and HLB (-1.57%). Seegene rose by 0.29%.