KOSPI Mixed... Foreigners Switch to Selling

On the 19th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index opened at 2,840.34, down 23.90 points (0.83%) from the previous session. The won-dollar exchange rate started at 1,195.0 won, up 4.9 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Junho Hwang] On the afternoon of the 19th, the stock market is fluctuating amid expectations that the US tightening measures will intensify. The KOSPI, which started lower, turned to an upward trend but returned to a downward trend in the afternoon. Amid rising market interest rates and exchange rates, and the progress of mega IPOs, the stock market is showing signs of wavering without a clear direction.

As of 2:01 PM on the same day, the KOSPI is at 2,839.57, down 24.67 points (0.86%) from the previous session. While individuals and foreigners are net sellers of 79.3 billion KRW and 27.7 billion KRW respectively, institutions are net buyers of 101.5 billion KRW, reducing the index's decline.

Among all stocks, 202 stocks rose while 675 stocks fell. Most of the top market capitalization stocks are also recording declines. Samsung Electronics, the unwavering market leader, is down 0.91% from the previous session, trading at 76,300 KRW. SK Hynix, another semiconductor stock, is holding steady at 126,500 KRW.

Following this, internet sector representatives NAVER (-2.51%) and Kakao (-3.59%) are showing significant declines, and major secondary battery stocks such as LG Chem (-6.05%) and Samsung SDI (-1.91%) also experienced large drops. In particular, LG Chem is showing a sharp decline amid ongoing supply-demand pressure as the LG Energy Solution IPO subscription is underway.

By sector, the pharmaceutical sector is up 0.89%, showing the largest increase among sectors. This is followed by electricity and gas at 0.20%, and distribution at 0.05%. The rise in Celltrion is driving the pharmaceutical sector's upward trend. On this day, the Financial Services Commission's Securities and Futures Commission postponed discussions on accounting fraud allegations against the three Celltrion companies. Considering that the Securities and Futures Commission's regular meetings are usually held every other Wednesday, the Celltrion audit discussions are expected to begin around the 9th of next month at the earliest. Next.

The KOSDAQ is also down 11.22 points (1.19%) from the previous session, standing at 932.72 at this time. While foreigners and institutions are net sellers of 41.7 billion KRW and 32.1 billion KRW respectively, individuals are net buyers of 78.5 billion KRW, reducing the decline.

Among the top market capitalization stocks, Celltrion Healthcare's rise stands out. This stock rose 2.94% to 66,500 KRW, reclaiming the top spot in KOSDAQ market capitalization following the news that the Securities and Futures Commission's discussion on accounting fraud allegations has been postponed. By sector, information devices (0.72%) and distribution (0.43%) sectors are recording gains.