'Four Witches Day' Passes Smoothly... KOSPI Ends Slightly Higher

Institution Net Selling of 1 Trillion Won Again in 1 Month
KOSDAQ Closes Up About 1%

On the afternoon of the 10th, dealers are working in the dealing room of Hana Bank in Jung-gu, Seoul. [Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] Despite the increased market volatility caused by the overlapping expiration of futures and options known as the ‘Four Witching Days’ (Quadruple Witching Day), the KOSPI closed slightly higher without significant fluctuations.

On the 10th, the KOSPI closed at 3,224.64, up 0.26% (8.46 points) from the previous day. It initially dropped to 3,210.31 in early trading but then began to rebound, recovering to 3,235.39 around 1:30 PM. However, due to a surge in selling by institutional investors toward the end of the session, it closed near the 3,220 level.

The simultaneous selling by foreigners and institutions that persisted throughout the day began to change toward the end of trading. Foreign investors, who had consistently been net sellers, turned to buying after 3 PM. They increased their purchases and ended with a net buying of 707.5 billion KRW. In contrast, institutions recorded a net selling of 1.1131 trillion KRW. This is the first time since the 11th of last month, when institutions net sold 1.3513 trillion KRW, that they have sold over one trillion KRW. Meanwhile, individual investors were net buyers of 387.4 billion KRW.

Many sectors rose. The largest gains were seen in Services (2.21%), Pharmaceuticals (2.10%), Textiles & Apparel (1.76%), and Medical Precision Instruments (1.69%). Meanwhile, Machinery (-3.31%), Banking (-1.84%), and Construction (-1.41%) declined.

Among the top 10 sectors by market capitalization, most rose. NAVER led with a 4.18% increase, followed by Kakao (3.49%), Samsung Biologics (2.52%), Celltrion (1.53%), Samsung SDI (0.66%), LG Chem (0.62%), and SK Hynix (0.41%). Hyundai Motor (-1.22%), Kia (-1.22%), and Samsung Electronics (-0.12%) fell.

The KOSDAQ index closed at 987.77, up 0.92% (8.98 points) from the previous day. After a slightly higher start at 979.52, it steadily widened its gains, reaching 993.08 around 1:53 PM before closing slightly down in the 980 range.

In the KOSDAQ market, foreigners and institutions were net buyers of 39.3 billion KRW and 341.8 billion KRW, respectively. Individuals were net sellers of 368.5 billion KRW.

Most sectors rose. The largest gains were in Other Services (2.30%), Medical & Precision Instruments (2.28%), and Technology Growth Companies Division (2.10%). Financials (-1.58%), Metals (-0.33%), and Transportation Equipment & Parts (-0.27%) declined.

All of the top 10 market capitalization stocks rose. Alteogen led with a 4.61% increase, followed by EcoPro BM (4.23%), Pearl Abyss (3.89%), Seegene (2.15%), Celltrion Pharm (1.40%), HLB (1.37%), Kakao Games (0.89%), SK Materials (0.87%), Celltrion Healthcare (0.86%), and CJ ENM (0.73%).