[Asia Economy Reporter Lee Seon-ae] The domestic indices are experiencing larger declines due to the 'selling' by foreigners and institutions.
As of 10:36 AM on the 28th, the KOSPI is down 0.85% at 3106.88. The KOSDAQ's decline rate is even higher. The KOSDAQ is trading down 1.57% at 1018.55. On this day, the KOSPI and KOSDAQ started at 3133.40, down 0.24 points (0.01%), and 1034.04, down 0.78 points (0.08%), respectively, compared to the previous trading day.
The selling trend by foreigners and institutions is fueling the index decline. Foreigners are net sellers of 51.6 billion KRW and 161 billion KRW in the two markets, respectively. In the futures market, they have a buying advantage of 739.5 billion KRW and 239.6 billion KRW, respectively. Institutions have a buying advantage in the futures market but a selling advantage of 335.6 billion KRW and 104 billion KRW in the spot market, respectively.
The weak sectors in KOSPI are pharmaceuticals (-2.42%), non-metallic minerals (-2.00%), and steel and metals (-1.91%), while the strong sectors are electricity and gas (+2.27%), finance (+0.59%), and chemicals (+0.18%).
The weak sectors in KOSDAQ are IT components (-3.02%), information technology (-2.66%), and construction (-2.47%), while the strong sector is entertainment and culture (+0.43%).
Overnight, the New York stock market showed mixed trends as U.S. Treasury yields rose intraday to 1.5%, causing tech stocks to fall. On the 27th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed up 71.37 points (0.21%) at 34,869.37. The Standard & Poor's (S&P) 500 index closed down 12.37 points (0.28%) at 4443.11, and the Nasdaq index closed down 77.73 points (0.52%) at 14,969.97.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
