KOSDAQ Also Shows Slight Weakness... Selling Pressure Centered on Foreigners and Institutions
[Asia Economy Reporter Gong Byung-sun] Individual selling pressure is leading to a decline in the KOSPI. Meanwhile, foreigners and institutions are concentrating their selling on the KOSDAQ.
As of 1:56 PM on the 13th, the KOSPI recorded 2,964.60, down 0.27% (7.88 points) from the previous day. It started the day higher and hovered around the 2,970 level, but the decline has deepened in the afternoon.
Individual selling pressure led to the index decline. Individuals net sold 232.7 billion KRW. Foreigners and institutions net bought 174.3 billion KRW and 41.4 billion KRW, respectively.
Many sectors showed weakness. The medical precision sector had the largest drop at 5.48%. This was followed by pharmaceuticals (-1.04%), transportation equipment (-0.52%), services (-0.58%), and chemicals (-0.47%). On the upside were textiles and apparel (1.75%), steel and metals (1.40%), securities (1.19%), electric and gas utilities (1.00%), and insurance (0.53%).
The top 10 stocks by market capitalization showed mixed results. LG Chem had the largest decline at 3.23%, followed by Samsung Electronics (-0.63%), Kia (-0.47%), and Celltrion (-0.25%). NAVER (1.30%), Samsung SDI (1.06%), and SK Hynix (0.39%) rose. Samsung Biologics, Hyundai Motor, and Kakao remained flat.
At the same time, the KOSDAQ recorded 983.67, down 0.77% (7.66 points) from the previous day. It had fallen to 981.31 at 11:12 AM.
Foreigners and institutions are selling heavily. Foreigners and institutions net sold 266.8 billion KRW and 32.1 billion KRW, respectively. Individuals net bought 300.5 billion KRW.
Most sectors declined. The other services sector had the largest drop at 2.70%, followed by publishing and media replication (-2.55%), digital content (-2.46%), IT software & services (-1.77%), and pharmaceuticals (-1.51%). On the upside were machinery and equipment (1.57%), telecommunications services (0.62%), broadcasting and telecommunications services (0.39%), broadcasting services (0.31%), and information devices (0.25%).
Except for CJ ENM, all of the top 10 stocks by market capitalization declined. Kakao Games had the largest drop at 4.03%, followed by HL Biopharma (-3.32%), Pearl Abyss (-2.78%), L&F (-1.77%), Celltrion Pharm (-1.64%), EcoPro BM (-1.57%), Wemade (-1.37%), Chunbo (-1.01%), and Celltrion Healthcare (-0.49%). CJ ENM rose 0.43%.
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