KOSPI Shows Around 1% Decline Amid Strong Foreign and Institutional Selling Pressure

KOSDAQ Drops Over 1%... Falls to 1030 Level

On the 30th, KOSPI opened at 3,234.37, down 8.28 points (0.26%) from the previous trading day. Dealers are working in the dealing room of Hana Bank in Jung-gu, Seoul. On the same day, the USD/KRW exchange rate started trading at 1,144.1 won, down 2.4 won from the previous trading day. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Gong Byung-sun] The KOSPI is showing a decline of around 1% due to selling pressure from foreigners and institutions. The KOSDAQ's decline has exceeded 1%.

As of 1:56 PM on the 30th, the KOSPI recorded 3,210.98, down 0.98% (31.67 points) from the previous trading day. It had fallen to 3,204.40 at 12:43 PM on the same day.

Selling by foreigners and institutions is leading to the index's decline. On this day, foreigners and institutions sold a net amount of 283.4 billion KRW and 607.7 billion KRW, respectively. Individuals bought a net amount of 874.8 billion KRW.

All sectors except steel and metals declined. The transportation equipment sector had the largest drop at 1.60%. This was followed by transportation and warehousing (-1.48%), pharmaceuticals (-1.40%), finance (-1.30%), and distribution (-1.29%). Steel and metals rose by 2.10%.

Among the top 10 stocks by market capitalization, all except LG Chem declined. Samsung SDI had the largest drop at 2.75%. This was followed by Kia (-2.20%), Celltrion (-2.10%), Samsung Biologics (-1.32%), Hyundai Motor (-1.13%), NAVER (-1.02%), SK Hynix (-0.44%), Samsung Electronics (-0.38%), and Kakao (-0.34%). LG Chem rose by 0.96%.

At the same time, the KOSDAQ recorded 1,031.65, down 1.20% (12.48 points) from the previous trading day. The KOSDAQ, which started the day with gains, fell to 1,030.78 at 12:45 PM.

Selling pressure from foreigners and institutions is strong. Foreigners and institutions sold a net amount of 126.2 billion KRW and 111.5 billion KRW, respectively. Individuals bought a net amount of 251.4 billion KRW.

Almost all sectors declined. The digital content sector had the largest drop at 3.17%. This was followed by entertainment and culture (-2.11%), IT software & services (-1.99%), broadcasting services (-1.91%), and chemicals (-1.52%). General electrical and electronics (0.25%), construction (0.03%), and textiles and apparel (0.01%) rose.

Most of the top 10 stocks by market capitalization declined. Pearl Abyss had the largest drop at 5.48%. This was followed by Kakao Games (-3.95%), Celltrion Pharm (-2.79%), Seegene (-2.50%), Alteogen (-2.18%), Celltrion Healthcare (-2.16%), CJ ENM (-2.10%), and SK Materials (-1.28%). EcoPro BM (1.34%) and HLB (0.84%) rose.