KOSPI, Donghak Ants' 4th Largest Ever Net Purchase of 3.5 Trillion Won...Maintains 3200 Level

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 11th, the KOSPI held the '3200 level' thanks to net purchases of over 3.5 trillion won by Donghak Ants. Although the 3200 level was breached during the session due to a sharp decline in U.S. tech stocks overnight, the index was defended by the fourth-largest net buying by individual investors in history.

According to the Korea Exchange on the 11th, the KOSPI closed at 3,209.43, down 39.87 points (1.23%) from the previous trading day. During the session, it fell as low as 3,192.25, breaking below the 3200 level.

On the day, individuals net bought 3.5554 trillion won in the KOSPI, defending the index. This is the fourth-largest net buying amount in history. Meanwhile, foreigners and institutions net sold 2.2091 trillion won and 1.3503 trillion won, respectively, leading the index decline.

In the overnight New York stock market, tech stocks collectively closed lower amid growing inflation concerns. As a result, foreigners showed a selling trend exceeding 2 trillion won, reflecting deteriorated investor sentiment.

Among the top market capitalization stocks, most showed a decline including Samsung Electronics (-2.40%). SK Hynix (-5.38%), LG Chem (-0.11%), NAVER (-3.59%), and Hyundai Motor (-1.31%) all declined. In contrast, Samsung Biologics and POSCO rose by 0.12% and 0.61%, respectively.

The KOSDAQ closed at 978.61, down 14.19 points (1.43%) from the previous day. By investor type, individuals net bought 507.9 billion won, while foreigners and institutions net sold 218.4 billion won and 266.9 billion won, respectively.

Among the top market capitalization stocks, all except CJ ENM (0.99%) were weak. Celltrion Healthcare (-1.81%), Celltrion Pharm (-2.39%), Pearl Abyss (-2.61%), and Kakao Games (-1.67%) all declined.