Foreigners and Institutions Increase Selling... KOSPI Closes Down Around 0.7%

[Asia Economy Reporter Minji Lee] The KOSPI closed lower amid inflation concerns and sluggish performance in the Greater China stock markets.

On the 27th, the KOSPI ended the session at 3,025.49, down 0.77% (23.59 points) from the previous trading day. The index opened at 3,045.83, down 0.11% (3.25 points) from the previous day, and widened its losses in the afternoon. According to comprehensive investment trends, individual investors bought stocks worth 613.4 billion KRW alone, while foreigners and institutions sold stocks worth 292.9 billion KRW and 349.8 billion KRW, respectively.

By sector, pharmaceuticals (0.48%), transportation equipment (0.32%), and services (0.19%) showed the largest gains. Among pharmaceuticals, Samsung Biologics (2.16%) rose on strong third-quarter earnings. Among the top market capitalization stocks, Samsung Electronics closed down 1.41% at 70,200 KRW. NAVER (0.48%), Kakao (0.78%), Samsung SDI (0.54%), and Kia (0.24%) continued to rise, while SK Hynix (-0.49%) and LG Chem (-0.60%) declined.

Lee Kyung-min, a researcher at Daishin Securities, explained, “Amid persistent inflationary pressures, the sluggish performance of the Greater China stock markets had a negative impact. The chemical sector was generally weak as major secondary battery-related stocks such as LG Chem and SK Innovation fell, returning gains previously made by Tesla.”

At the same time, the KOSDAQ index was down 0.28% (2.81 points) at 1,008.95. The KOSDAQ opened at 1,012.91, up 0.11% (1.15 points) from the previous day, before turning lower. Investment trends show that individuals and institutions bought stocks worth 93.1 billion KRW and 37.7 billion KRW, respectively, while foreigners sold stocks worth 79.1 billion KRW.

In the KOSDAQ market, digital content (4.32%), IT software (2.49%), and entertainment & culture (1.73%) sectors showed the largest gains. The continued strength in gaming and entertainment stocks highlighted the rise in related sectors. Among the top market capitalization stocks, Celltrion Healthcare (-1.23%), EcoPro BM (-0.24%), HL Biopharma (-4.09%), Celltrion Pharm (-2.25%), SK Materials (-1.18%), and CJ ENM (-2.49%) declined. On the other hand, Pearl Abyss (3.99%), Kakao Games (6.52%), and Wemade (4.78%) rose.