Foreign Institutional Investors Continue Net Selling... KOSPI and KOSDAQ Down in the Afternoon

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] As foreign investors and institutions increased their net selling, the KOSPI is showing a decline of nearly 1%.

As of 1:33 PM on the 17th, the KOSPI stood at 3,125.73, down 0.88% (27.59 points) from the previous trading day. The KOSPI opened at 3,163.21, up 0.31% (9.89 points) from the previous day, but soon turned downward. Looking at investor trends, individual investors alone bought stocks worth 797.7 billion KRW, while foreign investors and institutions sold stocks worth 503.4 billion KRW and 296.0 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics and SK Hynix fell by 0.87% and 0.84%, respectively. Samsung Biologics (-7.49%), Samsung SDI (-1.12%), and Hyundai Motor (-1.09%) also declined.

At the same time, the KOSDAQ index stood at 960.23, down 0.67% (6.49 points) from the previous trading day. The KOSDAQ index opened at 968.02, up 0.13% (1.30 points) from the previous day, but the decline widened in the afternoon. Looking at investor trends, individual investors alone bought stocks worth 205.2 billion KRW, while foreign investors and institutions sold stocks worth 170.2 billion KRW and 30.6 billion KRW, respectively.

Among the top market capitalization stocks, Pearl Abyss (-1.41%), EcoPro BM (-1.59%), HL Biopharma (-0.16%), SK Materials (-1.60%), Alteogen (-1.37%), and Studio Dragon (-0.21%) also declined.

Seosangyoung, a researcher at Mirae Asset Securities, explained, “The Taiwan stock market once plunged more than 3%, and the downward trend is growing due to the COVID-19 spread issue. The market is paying attention to changes in the Taiwan and Japan stock markets, and as concerns about delayed economic recovery due to global supply chain disruption increase, foreign investors continue to sell.”