KOSPI Ends Lower Amid Foreigners' Net Selling of 1.9 Trillion Won... '3200 Level' at Risk

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 12th, the KOSPI closed slightly lower due to a large-scale sell-off by foreigners amounting to nearly 2 trillion won. The KOSPI, which closed lower for six consecutive trading days, retreated to the '3200 level'.

On that day, the KOSPI closed at 3,208.38, down 12.24 points (0.38%) from the previous day. The index opened at 3,213.58, down 7.04 points (0.22%) from the previous trading day, and fluctuated around the flat line. Up to that day, the KOSPI had fallen for six consecutive trading days, dropping to the 3200 level.

By investor type, foreigners were net sellers of 1.876 trillion won, showing a selling dominance for four consecutive trading days. On the other hand, individuals and institutions bought 1.8193 trillion won and 56.2 billion won respectively, defending against the index decline.

Among the top 10 stocks by market capitalization, Samsung Electronics (-1.91%) and SK Hynix (-4.74%), which had fallen sharply the previous day, continued their downward trend. Both stocks recorded their lowest prices of the year. NAVER (-1.01%), Samsung Biologics (-0.31%), and Celltrion (-0.53%) also showed weakness. On the other hand, Kakao (2.43%), LG Chem (3.17%), Samsung SDI (1.87%), Hyundai Motor (0.23%), and Kia (4.21%) rose.

The KOSDAQ closed at 1,054.09, up 2.17 points (0.21%) from the previous session. The index opened at 1,054.16, up 2.24 points (0.21%) from the previous trading day.

Individuals were the sole net buyers with 114.4 billion won, while foreigners and institutions were net sellers of 32 billion won and 83.3 billion won respectively.

Among the top 10 stocks by market capitalization, the price movements were mixed. L&F (5.04%), Celltrion Pharm (3.39%), EcoPro BM (2.25%), HLB (1.99%), and Seegene (1.94%) showed significant gains. Conversely, Celltrion Healthcare (-0.58%), Kakao Games (-2.48%), Pearl Abyss (-0.73%), and Alteogen (-2.59%) declined.

Park Gwangnam, a researcher at Mirae Asset Securities, analyzed, "The Korean stock market showed mixed trends on this day," adding, "Volatility in supply and demand expanded due to the options expiration day, and with an increase in foreign spot selling and a reduction in futures buying, the KOSPI turned to a decline." He further noted, "While the transportation equipment and chemical sectors rose due to strong global electric vehicle sales and expansion into the US and Europe, the global investment banks' downgrade of investment opinions amid concerns about business conditions led to continued weakness in the electric and electronics sectors such as Samsung Electronics and SK Hynix."