KOSDAQ Starts Trading Below 1000 Level After 11 Trading Days
[Asia Economy Reporter Gong Byung-sun] The KOSPI is showing weakness in the early session due to selling pressure from individual investors. The KOSDAQ briefly fell below the 1000 mark.
On the 6th, the KOSPI opened at 2925.40, down 0.97% (28.57 points) from the previous day. It showed weakness early in the session, dropping as low as 2922.73.
Selling pressure from individuals is strong, with net sales of 93.6 billion KRW. Foreigners and institutions were net buyers of 63.8 billion KRW and 32.6 billion KRW, respectively.
Most sectors declined. The service sector had the largest drop at 2.05%. This was followed by non-metallic minerals (-1.52%), pharmaceuticals (-0.94%), textiles and apparel (-0.83%), and machinery (-0.80%). On the upside were paper and wood (0.93%), transportation equipment (0.33%), transportation and storage (0.24%), and steel and metals (0.08%).
Almost all of the top 10 market capitalization stocks fell. Kakao had the largest decline at 3.79%, followed by NAVER (-2.11%), Kia (-0.81%), Samsung SDI (-0.77%), Samsung Electronics (-0.26%), Hyundai Motor (-0.23%), and Samsung Biologics (-0.12%). LG Chem (1.66%) and Kakao Bank (0.54%) rose. SK Hynix remained flat.
The KOSDAQ opened at 993.60, down 1.59% (16.02 points) from the previous day. This is the first time in 11 trading days since the 22nd of last month that the KOSDAQ fell below 1000. However, it briefly recovered above 1000 at 9:15 AM.
Selling pressure from individuals and institutions led to the index decline. Individuals and institutions were net sellers of 6.6 billion KRW and 27.1 billion KRW, respectively. Foreigners were net buyers of 28.2 billion KRW.
Almost all sectors declined. Digital content had the largest drop at 4.98%, followed by IT S/W & SVC (-3.59%), entertainment and culture (-2.35%), paper and wood (-2.09%), and software (-1.99%). Information devices (0.18%) and telecommunications services (0.11%) rose.
All of the top 10 market capitalization stocks except Seegene fell. Kakao Games had the largest decline at 7.75%, followed by Wemade (-4.21%), Pearl Abyss (-3.74%), Chunbo (-2.11%), EcoPro BM (-1.37%), Celltrion Pharm (-1.22%), L&F (-0.76%), Celltrion Healthcare (-0.52%), and HLB (-0.28%). Seegene rose 0.52%.
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