[Asia Economy Reporter Minji Lee] The KOSPI is showing an upward trend in the morning session. However, the rise has significantly narrowed due to continued selling pressure from foreign investors.
As of 10:36 AM on the 30th, the KOSPI stood at 3,139.38, up 0.17% (5.48 points) from the previous trading day. The index started the day strong, rising 0.86% (26.97 points) to 3,160.87, but the gains were trimmed due to foreign selling. Looking at investor trends, individual and institutional investors bought stocks worth 9 billion KRW and 94.1 billion KRW respectively, while foreign investors sold stocks worth 123.8 billion KRW alone.
Han Ji-young, a researcher at Kiwoom Securities, said, "Market participants have not yet fully dispelled concerns about earnings peak out." She added, "The continued net selling by foreigners is due not only to macro uncertainties and exchange rates but also to caution over earnings peak out. Therefore, foreign demand conditions are expected to improve with favorable export indicators in August."
By sector, construction (4.13%), non-metallic minerals (2.78%), steel & metals (2.15%), transportation equipment (1.29%), and transportation & warehousing (1.41%) showed the largest gains. Among construction companies, Beomyang Geonyeong rose the most at 20.9%, followed by Gyeryong Construction (7.2%), GS Construction (6.4%), Ilseong Construction (5.8%), and Hyundai Construction (3.6%). The positive outlook is attributed to rising expectations for domestic housing supply and the construction sector entering a boom cycle.
Among the top market capitalization stocks, Samsung Electronics (0.13%), SK Hynix (0.97%), NAVER (1.07%), Kakao (0.67%), and Hyundai Motor (1.44%) rose, while Samsung Biologics (-1.48%), LG Chem (-0.89%), Samsung SDI (-0.65%), and Celltrion (-0.17%) declined.
At the same time, the KOSDAQ index stood at 1,030.63, up 0.7% (7.12 points) from the previous day. It opened at 1,030.65, up 0.70% (7.14 points). Individual investors alone bought stocks worth 117.5 billion KRW, while foreign and institutional investors sold stocks worth 110.9 billion KRW and 3 billion KRW respectively.
By sector, transportation equipment & parts (4.3%), digital content (3.1%), construction (2.79%), IT software (1.68%), and telecommunications equipment (1.6%) showed upward trends. Among the top market capitalization stocks, Pearl Abyss (8.88%), HL Biopharma (10.61%), Kakao Games (2.10%), and Alteogen (0.62%) rose, while Celltrion Healthcare (-0.41%), EcoPro BM (-1.02%), and Celltrion Pharm (-0.88%) declined.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
