KOSPI Narrows Gains in Afternoon... Institutions Turn to Net Selling

[Asia Economy Reporter Minji Lee] On the 3rd, the KOSPI showed a flat trend in the afternoon. On the day when short selling was partially resumed for the first time in 13 months, the KOSPI showed an increase of over 0.8% in the morning, but the rise significantly slowed down as institutional investors switched to net selling in the afternoon.

As of 1 PM on the 3rd, it stood at 3,152.87, up 0.15% (4.87 points). The KOSPI opened at 3,149.05, up 0.04% (1.19 points) from the previous trading day, and showed an upward trend, but from around 11 AM, the net buying by institutions decreased, causing a downward trend. Looking at investor trends, individual investors alone bought stocks worth 320.5 billion KRW, while foreigners and institutions sold stocks worth 288.9 billion KRW and 26.7 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics is up 0.37% from the previous trading day, at 81,800 KRW. SK Hynix (3.13%), NAVER (1.81%), Kakao (1.32%), and Hyundai Motor (4.01%) also showed upward trends.

At the same time, the KOSDAQ index stood at 977.22, down 0.63% (6.23 points) from the previous trading day. The KOSDAQ index started at 982.97, down 0.05% (0.48 points), and has been showing a weak trend. Although individual investors continue net buying, it is judged insufficient to increase the rise. Looking at investor trends, individuals alone bought stocks worth 169.5 billion KRW, while foreigners and institutions sold stocks worth 129.7 billion KRW and 38 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare (-2.67%), Celltrion Pharm (-2.33%), Kakao Games (-2.95%), EcoPro BM (-2.10%), Pearl Abyss (-0.71%), SK Materials (-0.53%), and HLB (-2.72%) declined.