KOSPI Weakness... Continued Net Selling by Foreign Investors

[Asia Economy Reporter Junho Hwang] On the morning of the 17th, the stock market is showing mixed trends. Following last week, foreign investors continue to sell net, while bargain buying is flowing in, causing fluctuations.

As of 10:10 AM, the KOSPI is at 3,161.24, up 0.32% from the previous trading day. Foreigners are net selling 362 billion KRW, while individuals and institutions are net buying 243.8 billion KRW and 134.1 billion KRW respectively.

Among all stocks, 745 are declining, while about 143 are rising. Among the top market capitalization stocks, Samsung Electronics is showing an upward trend for the first time in a while, rising 0.54% to 74,800 KRW. This is the first increase in 7 trading days. SK Hynix, another semiconductor stock that had been falling due to foreign investor outflows, is down 0.49% at 101,000 KRW.

On this day, Samsung Biologics surpassed 1 million KRW per share intraday for the first time in history. It is currently trading at 999,000 KRW, down 1.63%. Earlier, Samsung Biologics announced in May that it had signed a contract for contract manufacturing (CMO) of the COVID-19 mRNA vaccine developed by Moderna in the U.S. According to the contract, the company has started technology transfer of the Moderna vaccine and is expected to begin aseptic filling, labeling, and packaging of hundreds of millions of doses of the vaccine from the end of this month.

Among sectors, only pharmaceuticals (3.03%), finance (0.75%), and electrical and electronics (0.02%) are showing gains. Medical precision, telecommunications, and textiles and apparel sectors are showing declines of around 3%.

The KOSDAQ is down 1.56% at 1,024.51. Foreigners are net selling 72.7 billion KRW on the KOSDAQ as well. Institutions are also selling 55 billion KRW, while only individuals are net buying 139.5 billion KRW. Among all stocks, 1,223 are declining and 179 are rising.

Among the top market capitalization stocks, Celltrion Healthcare (0.76%), Celltrion Pharm (2.02%), Kakao Games (0.78%), and HL Biopharma (0.27%) are showing upward trends.