KOSPI, Clear Selling Pressure from Foreigners and Institutions Drops Below 2930... Cheonsdak Also Precarious

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] The KOSPI index fell to the 2930 level as foreign investors strengthened their selling trend following institutional selling. The KOSDAQ, which started higher, also turned downward, putting the "Cheonsdak" at a precarious position.

As of 2:13 PM on the 26th, the KOSPI was trading at 2932.00, down 1.62% (48.27 points) from the previous day. The index opened at 2973.04, down 7.23 points (0.24%), and the decline widened significantly in the afternoon.

By investor type, individual investors were net buyers with 446.4 billion KRW. Foreign investors turned to selling in the afternoon and are currently net sellers with 107.1 billion KRW. Institutions also showed a selling bias with 384.3 billion KRW net sales.

Among the top 10 market capitalization stocks, most were in decline. Samsung Electronics fell 2.31% to 72,000 KRW. SK Hynix (-1.70%), NAVER (-2.14%), Kakao (-1.95%), LG Chem (-2.44%), Hyundai Motor (-2.14%), and Kia (-2.18%) also declined. Meanwhile, Samsung Biologics (1.77%) was the sole gainer.

At the same time, the KOSDAQ also turned downward. The KOSDAQ was at 1000.64, down 1.48% (15.02 points) from the previous day. The index opened at 1017.90, up 2.24 points (0.22%), fluctuated, and then widened its losses.

By investor type, individuals were net sellers with 62.2 billion KRW. In contrast, foreign investors and institutions were net buyers with 67.8 billion KRW and 19.6 billion KRW, respectively.