KOSPI Weakens on Foreign and Institutional Net Selling... KOSDAQ Hits Highest Intraday Level This Year

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The KOSPI continues to weaken in early trading due to net selling by foreigners and institutions. Meanwhile, the KOSDAQ has extended its four-day consecutive rise, setting a new intrayear high this year.

As of 9:18 a.m. on the 1st, the KOSPI stood at 3,288.93, down 0.24% (7.75 points) from the previous trading day. The KOSPI opened at 3,297.92, up 0.04% (1.24 points) from the previous day, and has been fluctuating slightly around the 3,290 level.

By investor type, individual investors defended the index with net purchases of 256.5 billion KRW. Foreigners and institutions net sold 44.7 billion KRW and 209.6 billion KRW, respectively.

Among the top market capitalization stocks, performance was mixed. Samsung Electronics (-0.62%), SK Hynix (-1.18%), Hyundai Motor (-0.84%), and Celltrion (-0.93%) were down. Kakao (0.61%), NAVER (1.08%), LG Chem (1.29%), and Samsung SDI (3.15%) rose.

On the other hand, the KOSDAQ is showing an upward trend. At the same time, the index was up 0.17% (1.71 points) at 1,031.67. The index opened at 1,030.48, up 0.05% (0.52 points) from the previous day. Early in the session, it rose to 1,032.87, surpassing the intraday record high of 1,032.64 set on April 19.

By investor type, individuals were the sole net buyers with 77.2 billion KRW. Foreigners and institutions were net sellers of 52.5 billion KRW and 20.4 billion KRW, respectively.

Among the top market capitalization stocks, Celltrion Healthcare was down 0.09% at 115,600 KRW. Others such as EcoPro BM (-0.28%), CJ ENM (-0.05%), and SK Materials (-0.09%) also declined. Meanwhile, Pearl Abyss (9.11%), Seegene (2.90%), and Kakao Games (0.87%) rose.

Han Ji-young, a researcher at Kiwoom Securities, said, "The domestic stock market is expected to show limited price movement," adding, "Concerns over the delta variant surge, the U.S. Institute for Supply Management (ISM) manufacturing index (on the 1st), and nonfarm payrolls (on the 2nd) will keep investors cautious around major U.S. economic indicators."