KOSPI Starts Lower... Falls Below 3000 Early in the Session

KOSPI Falls Below 3000 Again Since the 18th
KOSPI and KOSDAQ Show Mixed Trends

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI is showing slight fluctuations around the 3000 mark amid foreign selling pressure. However, it remains sluggish, having fallen below the 3000 level again after four trading days.

On the 22nd, the KOSPI opened at 3005.36, down 0.07% (1.97 points) from the previous day. Since then, it has shown mixed trends around the 3000 level. At 9:10 a.m., it dropped to 2996.26, falling below 3000 again for the first time in four trading days since the 15th.

Foreigners' selling pressure is relatively strong. Foreign investors sold a net 62.8 billion KRW. Individuals and institutions also sold net amounts of 44.6 billion KRW and 24.8 billion KRW, respectively.

Sector indices showed mixed results. The paper and wood sector posted the largest gain of 7.00%. This was followed by telecommunications (1.33%), textiles and apparel (0.49%), banking (0.46%), and electrical and electronics (0.23%). On the downside were electric and gas utilities (-1.06%), steel and metals (-0.98%), transportation and warehousing (-0.53%), services (-0.48%), and non-metallic minerals (-0.35%).

Among the top 10 market capitalization stocks, many showed gains. LG Chem led with a 1.49% increase, followed by SK Hynix (0.73%), Kia (0.36%), Samsung Biologics (0.23%), Samsung Electronics (0.14%), and Samsung SDI (0.14%). Meanwhile, Kakao (-1.56%), NAVER (-1.34%), Celltrion (-0.69%), and Hyundai Motor (-0.24%) declined.

The KOSDAQ opened at 992.22, down 0.15% (1.48 points) from the previous day. It fell to 989.43 at 9:10 a.m. but recovered to around 994, showing mixed trends as well.

Foreign and institutional selling led to the index decline. Foreigners and institutions sold net amounts of 14.1 billion KRW and 23.3 billion KRW, respectively. Individuals bought a net 45.7 billion KRW.

KOSDAQ sector indices also showed mixed results. The paper and wood sector rose the most at 1.81%, followed by telecommunication services (0.88%), digital content (0.85%), transportation (0.75%), and telecommunication broadcasting services (0.74%). On the downside were medical and precision instruments (-0.95%), information devices (-0.63%), finance (-0.60%), pharmaceuticals (-0.43%), and transportation equipment and parts (-0.22%).

The top 10 market capitalization stocks also showed mixed results. Kakao Games led with a 3.45% increase, followed by Wemade (1.98%), CJ ENM (0.77%), EcoPro BM (0.39%), and SK Materials (0.08%). Meanwhile, HL Biopharma (-0.93%), L&F (-0.86%), Celltrion Pharm (-0.74%), Pearl Abyss (-0.65%), and Celltrion Healthcare (-0.57%) declined.