KOSPI Hesitates Again Amid Institutional Selling... KOSDAQ Down 1%

Switch from Net Buying in the Morning to Net Selling in the Afternoon... Foreigners Still 'Selling'

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI index, which had briefly rebounded in the morning, is faltering again and remains around the 3130 level. This appears to be due to institutional investors, who had maintained buying pressure in the morning, switching to selling. The KOSDAQ index widened its losses again, falling back to the 950 range.

As of 2:02 PM on the 13th, the KOSPI recorded 3135.28, down 0.83% from the previous day. After starting slightly lower compared to the previous day, the index dropped to 3103.88 in early trading, then recovered to 3161.93 around noon, but is showing signs of weakening again.

The rebound in the index appears to have stalled as institutional investors, who had shown net buying until the morning, switched to selling. Foreign investors continued to sell, offloading 895.7 billion KRW following the previous day. Institutions sold 5.1 billion KRW. Individuals were the only net buyers, purchasing 919.5 billion KRW worth of shares.

Most sectors are in decline. The medical precision sector experienced the largest drop at -3.13%. This was followed by steel and financial services (-2.95%), machinery (-2.50%), and securities (-2.12%). Banks (4.88%) and insurance (3.74%) were among the sectors that rose.

At the same time, the KOSDAQ index fell 1.13% from the previous day to 956.21. After dropping nearly 2% to 948.04 in early trading, it recovered to 965.27 around noon but is showing signs of weakening again.

In the KOSDAQ market as well, individuals were the only net buyers. Individuals purchased 119.3 billion KRW worth of shares, while foreign investors and institutions sold 25.2 billion KRW and 92.7 billion KRW respectively.

Almost all sectors are falling. Non-metallics (-3.00%), finance (-2.72%), metals (-2.43%), and semiconductors (-2.30%) experienced the largest declines. Only transportation (1.34%) and food & beverage and tobacco (0.44%) sectors rose.