KOSPI Declines for 3 Consecutive Trading Days Amid Delta Variant Concerns, Closes at '3230 Level'

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The KOSPI closed lower for the third consecutive trading day, weighed down by foreign investors' selling pressure amid concerns over the spread of the COVID-19 Delta variant, which dampened investor sentiment.

On this day, the KOSPI ended the session at 3,232.70, down 11.34 points (0.35%) from the previous trading day. This marked a decline for the third consecutive trading day. The index opened at 3,223.24, down 20.80 points (0.64%) from the previous close, and maintained a weak trend throughout the session.

By investor type, individual and institutional investors defended the index by net buying 37.7 billion KRW and 151.7 billion KRW, respectively. In contrast, foreign investors sold a net 172.6 billion KRW, pulling the index down. Foreign investors led the decline by selling for three consecutive trading days on the KOSPI.

Among the top market capitalization stocks, most declined except for Celltrion (3.80%) and Kia (1.52%). Samsung Electronics closed flat. SK Hynix (-0.42%), NAVER (-0.90%), Kakao (-1.30%), Samsung Biologics (-0.33%), LG Chem (-0.61%), Samsung SDI (-1.62%), and Hyundai Motor (-0.22%) all fell.

The KOSDAQ closed at 1,043.64, down 6.19 points (0.59%) from the previous session. The index started at 1,049.51, down 8.84 points (0.84%) from the previous close, continuing its downward trend.

By investor type, individuals and foreign investors net bought 10.2 billion KRW and 91.5 billion KRW, respectively. Institutions sold a net 94.8 billion KRW.

Among the top market capitalization stocks, performances were mixed. Celltrion Healthcare (3.92%), Celltrion Pharm (0.33%), Pearl Abyss (3.69%), SK Materials (5.26%), and Seegene (3.49%) rose. Meanwhile, Kakao Games (-0.24%), CJ ENM (-0.46%), and Alteogen (-3.41%) declined. Notably, EcoPro BM (-7.32%), the leading stock in the secondary battery sector, saw a significant drop of over 7%.

Park Gwangnam, a researcher at Mirae Asset Securities, analyzed, "The Korean market declined as investor sentiment weakened due to the impact of the falling U.S. market amid concerns over the resurgence of COVID-19 and economic slowdown. Especially in the afternoon, increased foreign selling led to further declines in the index."