Despite Individual Net Buying, KOSPI Declines... Trading at 3240 Level

[Asia Economy Reporter Minji Lee] Despite individual net buying, the KOSPI continues its downward trend. Last week, as the U.S. stock market reflected concerns over changes in monetary policy stance, the domestic stock market is also being affected.

At 9:19 a.m., the KOSPI stood at 3,248.50, down 0.59% (19.43 points) from the previous trading day. The KOSPI opened the day at 3,264.18, down 0.11% (3.75 points) from the previous day. Looking at investor trends, individuals alone purchased stocks worth 364.9 billion KRW, while foreigners and institutions sold stocks worth 190.2 billion KRW and 174.9 billion KRW, respectively.

Among the top market capitalization stocks, Samsung Electronics and SK Hynix fell by 0.75% and 2.01%, respectively. This reflects the semiconductor industry peak-out issue, which influenced last week’s 2.44% decline in the Philadelphia Semiconductor Index. Other stocks such as LG Chem (-0.36%) and Samsung Biologics (-0.72%) also declined. On the other hand, Kakao (0.65%), NAVER (0.13%), Hyundai Motor (0.21%), and Celltrion (2.04%) rose.

At the same time, the KOSDAQ index stood at 3,247.65, down 0.62% (20.28 points) from the previous trading day. The KOSDAQ opened at 1,014.59, down 0.13% (1.29 points). Regarding investor trends, individuals alone bought stocks worth 75 billion KRW, while foreigners and institutions sold stocks worth 38.4 billion KRW and 32.1 billion KRW, respectively.

In the KOSDAQ market, Celltrion Healthcare (0.75%), Celltrion Pharm (1.87%), EcoPro BM (0.24%), Kakao Games (0.52%), and Seegene (4.98%) rose, while CJ ENM (-1.57%), Pearl Abyss (-2.25%), and HL Biopharma (-0.14%) declined.

Han Ji-young, a researcher at Kiwoom Securities, said, “The uncertainty from the Federal Reserve and the burden of a strong dollar, which were expected to ease after the June Federal Open Market Committee (FOMC) meeting, will limit the upper range of the index. However, although short-term volatility may increase, it will not break the upward trend of the stock market.”