KOSPI Hesitates as Foreigners Switch to Selling... KOSDAQ Maintains Gains

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] On the 5th, the domestic stock market started higher but showed mixed trends with fluctuations depending on the index. The KOSPI turned to a downward trend, while the KOSDAQ maintained a slight upward trend.

As of 11:25 AM, the KOSPI was trading at 3,279.38, down 0.03% from the previous trading day. The KOSDAQ was trading at 1,057.51, up 0.91%.

Individual investors recorded net sales worth 130.4 billion KRW in the KOSPI market. In the KOSDAQ market, there was a selling dominance of 90.7 billion KRW. Foreign investors, who initially showed buying dominance in the KOSPI market, switched to selling dominance, recording net sales of about 9.4 billion KRW. In the KOSDAQ market, they purchased stocks worth 103.3 billion KRW. Institutions showed buying dominance of 163.5 billion KRW in the KOSPI market and selling dominance of 9.1 billion KRW in the KOSDAQ market.

Meanwhile, the New York stock market showed mixed results amid weak private employment data. On the 4th (Eastern Time), at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed down 323.73 points (0.92%) at 34,792.67. The Standard & Poor's (S&P) 500 index fell 20.49 points (0.46%) to 4,402.66, while the tech-heavy Nasdaq index rose 19.24 points (0.13%) to close at 14,780.53.

Kim Yumi, a researcher at Kiwoom Securities, said, "Since the beginning of the year until July, foreign investors aggressively net sold over 24 trillion KRW, but recently they have been net buying, mainly in semiconductor stocks. It is true that foreign investors' net selling was excessive, and we believe there is a high possibility that they will expand their weighting in the Korean stock market in the future. However, it is necessary to consider the possibility that the buying intensity may weaken today."