Foreigners and Institutions 'Sell'... KOSPI Falls to 2918 Level

KOSDAQ Also Shows Foreign and Institutional Selling Pressure... Falls to 970 Level

[Image source=Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The domestic stock market is sluggish due to selling pressure from foreigners and institutions. Both KOSPI and KOSDAQ saw declines in their top 10 market capitalization stocks.

As of 2:36 PM on the 14th, the KOSPI recorded 2,918.13, down 1.48% (43.96 points) from the previous day. It had fallen to 2,915.09 at 12:44 PM that day.

Selling pressure from foreigners and institutions is strong. Foreigners and institutions net sold 295 billion KRW and 472.1 billion KRW, respectively. Individuals net bought 741.4 billion KRW.

All sectors declined. The medical precision sector had the largest drop at 4.13%. This was followed by pharmaceuticals (-3.47%), construction (-2.34%), chemicals (-2.25%), and machinery (-2.08%).

All of the top 10 market capitalization stocks fell. LG Chem had the largest decline at 5.30%. This was followed by Kakao (-3.10%), Samsung SDI (-3.00%), POSCO (-2.77%), Samsung Biologics (-2.43%), NAVER (-2.30%), SK Hynix (-1.93%), Kia (-1.73%), Samsung Electronics (-0.90%), and Hyundai Motor (-0.48%).

At the same time, the KOSDAQ recorded 970.72, down 1.27% (12.53 points) from the previous day. It had fallen to 967.19 at 9:03 AM that day.

Selling pressure from foreigners and institutions led to the index decline. Foreigners and institutions net sold 98.7 billion KRW and 79.3 billion KRW, respectively. Individuals net bought 177.3 billion KRW.

Almost all sectors declined. The retail sector had the largest drop at 5.97%. This was followed by computer services (-2.23%), broadcasting services (-2.07%), pharmaceuticals (-2.00%), and telecommunications broadcasting services (-1.86%). Semiconductor (0.82%), internet (0.72%), IT hardware (0.30%), and IT components (0.06%) sectors rose.

All of the top 10 market capitalization stocks fell. Celltrion Healthcare had the largest decline at 11.90%. This was followed by Celltrion Pharm (-11.07%), Wemade (-4.47%), HL Biopharma (-2.95%), CJ ENM (-2.95%), EcoPro BM (-2.32%), Cheonbo (-1.60%), Pearl Abyss (-1.05%), Kakao Games (-0.84%), and L&F (-0.77%).