Institutions Show Selling Pressure on Both KOSPI and KOSDAQ
LN F Exhibits Over 11% Gain in Early Trading Session
[Asia Economy Reporter Gong Byung-sun] Individual investors are leading the early morning gains in both the KOSPI and KOSDAQ. In contrast, institutional investors showed selling pressure in both markets.
On the 24th, the KOSPI opened at 3,140.73, up 0.42% (13.15 points) from the previous day. It even rose to 3,146.86 at 9:27 AM.
Individual buying momentum is strong. Individuals and foreigners net bought 123.7 billion KRW and 5.5 billion KRW respectively. Meanwhile, institutions net sold 134 billion KRW.
Most sectors rose. The textile and apparel sector had the largest gain at 3.13%. This was followed by banks (2.75%), transportation and warehousing (1.10%), steel and metals (1.07%), and financials (1.06%). On the downside were electric and gas utilities (-1.14%), medical precision instruments (-1.14%), pharmaceuticals (-0.11%), and machinery (-0.02%).
The top 10 stocks by market capitalization showed mixed results. Kakao had the largest gain at 3.91%, followed by NAVER (0.88%), SK Hynix (0.47%), Samsung Electronics (0.26%), and Hyundai Motor (0.24%). On the decline were Celltrion (-1.76%), LG Chem (-1.18%), Samsung SDI (-0.27%), Kia (-0.12%), and Samsung Biologics (-0.11%).
The KOSDAQ opened at 1,040.43, up 0.40% (4.17 points) from the previous day. It also rose to 1,045.21 at 9:27 AM.
Individual buying led the index higher. Individuals net bought 86.2 billion KRW. Foreigners and institutions net sold 72.2 billion KRW and 13.2 billion KRW respectively.
Almost all sectors rose. IT components led with a 3.50% gain, followed by telecommunications services (1.90%), medical and precision instruments (1.87%), software (1.75%), and IT hardware (1.71%). Sectors that declined included transportation equipment and parts (-0.57%), distribution (-0.49%), and broadcasting services (-0.27%).
The top 10 stocks by market cap showed mixed results. L&F had the largest gain at 11.44%, followed by Seegene (2.62%), EcoPro BM (1.87%), Alteogen (1.74%), and Kakao Games (1.60%). Decliners included HL Biopharma (-3.99%), Celltrion Pharm (-2.74%), Celltrion Healthcare (-2.00%), SK Materials (-0.19%), and Pearl Abyss (-0.12%).
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