Institutional and Foreign Selling Pressure... KOSPI Retreats to '2940 Level'

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The KOSPI retreated to the 2940 level amid selling pressure from institutions and foreigners. The reality of a resurgence of COVID-19 combined with an accelerating global monetary policy normalization atmosphere is interpreted as having a negative impact on investor sentiment.

According to the Korea Exchange on the 26th, as of 12:52 PM, the KOSPI stood at 2948.06, down 32.21 points (-1.08%) from the previous trading day. The index opened at 2973.04, down 7.23 points (0.24%). After briefly turning upward right after the opening and recovering the 2980 level, foreigners, who had shown buying dominance in the early session, turned to selling in the afternoon, and the selling pressure from institutions intensified, widening the decline.

By investor type, individuals are net buyers with 332.8 billion KRW. Institutions are net sellers with 316.5 billion KRW. In particular, foreigners shifted from net buying in the morning to selling along with institutions in the afternoon session.

Among the top market capitalization stocks, the majority are declining. Samsung Electronics (-2.04%), SK Hynix (-2.13%), NAVER (-1.76%), Kakao (-1.56%), and LG Chem (-2.30%) all fell. On the other hand, Samsung Biologics (0.83%) and Samsung SDI (0.14%) rose.

At the same time, the KOSDAQ stood at 1014.59, down 1.07 points (-0.11%) from the previous day. The index opened at 1017.90, up 2.24 points (0.22%).

By investor type, foreigners and institutions are net buyers with 56.1 billion KRW and 16.0 billion KRW respectively. Individuals were net sellers with 56.7 billion KRW.

Among the top 10 market capitalization stocks, most are on the rise. Ecopro BM (1.29%), Pearl Abyss (4.48%), L&F (0.09%), Kakao Games (3.26%), Wemade (2.30%), and Celltrion Pharm (0.08%) increased. Meanwhile, SK Materials (-3.58%) and HLB (-2.59%) declined.