[Asia Economy Reporter Ji-hwan Park] The KOSPI is showing weakness in the early session due to simultaneous net selling by foreigners and institutions. It is interpreted that the overnight decline in the U.S. stock market, influenced by the spread of Omicron, negatively affected investor sentiment.
As of 9:17 a.m. on the 20th, the KOSPI is at 2,989.85, down 0.92% (27.88 points) from the previous trading day. The KOSPI opened the session at 3,001.33, down 0.54% (16.40 points) from the previous day.
By investor type, foreigners and institutions net sold 80.6 billion KRW and 114.1 billion KRW respectively. Meanwhile, individuals net bought 191.9 billion KRW.
Among the top 10 market capitalization stocks, all are in decline. Samsung Electronics and SK Hynix fell by 0.90% and 0.41%, respectively. Samsung Biologics (-0.84%), NAVER (-1.95%), Kakao (-1.70%), LG Chem (-1.87%), Samsung SDI (-2.35%), Hyundai Motor (-1.43%), and Kia (-1.18%) also declined.
At the same time, the KOSDAQ is at 999.90, down 0.14% (1.36 points) from the previous trading day.
By investor type, individuals are the only net buyers with 64.9 billion KRW. Foreigners and institutions sold stocks worth 49.0 billion KRW and 17.5 billion KRW, respectively.
Among the top 10 market capitalization stocks on the KOSDAQ, performance was mixed. Celltrion Healthcare (1.46%), Pearl Abyss (2.58%), and Kakao Games (0.58%) rose. On the other hand, EcoPro BM (-1.12%) and L&F (-1.10%) declined.
Sang-young Seo, a researcher at Mirae Asset Securities, said, "The U.S. stock market showed weakness amid increased volatility, which is a burden on the domestic stock market. In particular, the rapid increase in new Omicron cases centered in the Eurozone and warnings from President Biden have raised concerns about economic contraction, which appears to be a factor dampening investor sentiment."
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