Foreigners and Institutions' 'Fate'... KOSPI Declines in Early Trading Session

KOSDAQ on the Rise... Surpasses 1025 Level

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The KOSPI showed a downward trend in the early session due to selling pressure from foreigners and institutions. Meanwhile, the KOSDAQ continued its upward trend with buying pressure from institutions.

On the 25th, the KOSPI opened at 2996.74, up 0.08% (2.45 points) from the previous day. However, it immediately turned downward at 9:01 AM, with the decline widening. At 9:29 AM, it even dropped to 2980.03.

Selling pressure from foreigners and institutions was relatively strong. Foreigners and institutions net sold 19.5 billion KRW and 111.6 billion KRW, respectively. Individuals net bought 129.9 billion KRW.

Most sectors declined. The steel and metal sector had the largest drop at 1.13%. This was followed by insurance (-1.06%), textiles and apparel (-1.03%), distribution (-0.84%), paper and wood (-0.74%), and electrical and electronics (-0.72%). Non-metallic minerals (1.09%), services (0.59%), and pharmaceuticals (0.28%) rose.

Many of the top 10 market capitalization stocks showed weakness. Samsung SDI had the largest decline at 1.37%. This was followed by SK Hynix (-1.26%), Samsung Electronics (-1.07%), LG Chem (-1.07%), Kia (-0.60%), and Hyundai Motor (-0.24%). NAVER (1.01%), Kakao (0.40%), and Samsung Biologics (0.12%) rose. Kakao Bank remained flat.

The KOSDAQ started trading at 1023.41, up 0.32% (3.28 points) from the previous day. It rose to 1025.90 at 9:07 AM.

Buying pressure from institutions led to the index's rise. Institutions net bought 13.6 billion KRW. Individuals and foreigners net sold 4.9 billion KRW and 9.7 billion KRW, respectively.

Many sectors showed strength. Digital content rose the most at 3.26%. This was followed by IT S/W & SVC (1.98%), entertainment and culture (1.05%), distribution (0.73%), and chemicals (0.72%). Broadcasting services (-3.11%), telecommunications broadcasting services (-2.39%), semiconductors (-1.26%), non-metallics (-0.85%), and telecommunications equipment (-0.70%) declined.

Most of the top 10 market capitalization stocks rose. Pearl Abyss had the largest increase at 4.78%. This was followed by Kakao Games (3.53%), Wemade (1.89%), Celltrion Pharm (1.88%), Celltrion Healthcare (0.94%), L&F (0.71%), and Chunbo (0.40%). SK Materials (-1.27%), HLB (-0.52%), and EcoPro BM (-0.26%) declined.