KOSDAQ Also Starts Lower After Closing at Yearly High the Previous Day
[Asia Economy Reporter Gong Byung-sun] The KOSPI opened lower due to selling pressure from foreigners and institutions.
On the 16th, the KOSPI started the session at 3,282.89, down 0.10% (3.33 points) from the previous trading day. It even dropped to 3,264.39 at 9:01 AM.
Foreigners and institutions are selling off. Foreigners and institutions net sold 23.4 billion KRW and 179.5 billion KRW, respectively. Individuals net bought 214.2 billion KRW.
Most sectors declined. The banking sector saw the largest drop at 0.95%. This was followed by electrical and electronics (-0.91%), services (-0.83%), transportation equipment (-0.74%), and construction (-0.70%). Meanwhile, food and beverage (0.90%), paper and wood (0.59%), medical precision (0.56%), non-metallic minerals (0.46%), and telecommunications (0.16%) rose.
Almost all of the top 10 stocks by market capitalization showed weakness. Kakao had the largest decline at 1.25%, followed by SK Hynix (-1.21%), Celltrion (-1.13%), Kia (-0.91%), Samsung Electronics (-0.87%), NAVER (-0.67%), Hyundai Motor (-0.65%), and Samsung SDI (-0.40%). Samsung Biologics (1.26%) and LG Chem (0.49%) rose.
On the same day, the KOSDAQ opened at 1,053.85, down 0.04% (0.46 points) from the previous trading day. It also dropped to 1,047.77 at 9:02 AM.
Selling pressure from foreigners and institutions is strong. Foreigners and institutions net sold 21.1 billion KRW and 12.5 billion KRW, respectively. Individuals net bought 34.2 billion KRW.
Almost all sectors declined. Non-metallics had the largest drop at 1.40%, followed by finance (-1.24%), transportation equipment and parts (-0.93%), semiconductors (-0.92%), and pharmaceuticals (-0.87%). Telecommunications services (1.00%) and chemicals (0.48%) rose.
Most of the top 10 stocks by market capitalization declined. Seegene had the largest drop at 3.27%, followed by Celltrion Healthcare (-1.15%), Celltrion Pharm (-1.14%), Kakao Games (-0.86%), CJ ENM (-0.56%), Pearl Abyss (-0.13%), and HLB (-0.13%). Alteogen (1.81%), EcoPro BM (1.34%), and SK Materials (0.61%) rose.
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