KOSPI Closes Below 2960 Amid Simultaneous Selling by Individuals and Institutions

[Image source=Yonhap News]

[Asia Economy Reporter Park Ji-hwan] On the 13th, the KOSPI closed slightly lower at the 2960 level due to simultaneous selling by individual and institutional investors.

The KOSPI ended the day at 2,962.09, down 10.39 points (0.35%) from the previous trading day. The index opened at 2,979.91, up 7.43 points (0.25%) from the previous session, but after fluctuating, it eventually turned downward.

By investor type, foreigners were net buyers with 372.5 billion KRW. In contrast, institutions and individuals were net sellers of 303.9 billion KRW and 91.4 billion KRW, respectively.

Among the top 10 stocks by market capitalization, Samsung Electronics closed at 77,900 KRW, down 1,000 KRW (-1.27%) from the previous day. LG Chem (-2.33%), Hyundai Motor (-0.71%), Kakao (-0.51%), and Kia (-0.24%) also declined. On the other hand, SK Hynix (0.78%), Samsung Biologics (0.93%), NAVER (0.72%), and Samsung SDI (1.06%) rose.

The KOSDAQ closed at 983.25, down 8.08 points (0.82%) from the previous session.

By investor type, individual investors were net buyers with 286.8 billion KRW. Institutions and foreigners were net sellers of 33.9 billion KRW and 254.7 billion KRW, respectively.

Among the top 10 stocks by market capitalization, most showed weakness. Celltrion Healthcare (-0.62%), EcoPro BM (-0.43%), Pearl Abyss (-4.04%), L&F (-1.72%), Kakao Games (-4.44%), Wemade (-1.99%), Celltrion Pharm (-1.92%), and HLB (-1.39%) closed lower. Only Cheonbo and CJ ENM rose slightly by 0.03% and 0.43%, respectively.

Kim Seok-hwan, a researcher at Mirae Asset Securities, analyzed, "On the 14th, volatility increased depending on the cautious stance of the Monetary Policy Committee and the scale of institutional and foreign selling ahead of the options expiration day." He added, "LG Electronics showed strength, and stocks related to Mercedes-Benz electric vehicle parts supply and Apple Car also stood out. Stocks related to secondary battery equipment also rose together, buoyed by expectations related to the LG Energy Solution IPO issue."