KOSPI '2600 Collapse' Sideways at 2580 Level... Individual Investors Sole Net Buyers

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] On the morning of the 19th, the KOSPI continued its weakness following the plunge in the US stock market. In the securities market, individuals are net buying over 300 billion KRW, but foreign investors and institutions are selling heavily. The KOSDAQ index's decline has somewhat eased compared to the early opening.

As of 10:51 AM, the KOSPI stands at 2,581.25, down 44.73 points (1.70%) from the previous trading day. The KOSPI opened at 2,576.24, down 49.74 points (1.89%) from the previous day, but the decline has somewhat narrowed. By investor type, individuals are net buying 345.4 billion KRW alone, while foreigners and institutions are selling 100.9 billion KRW and 252.8 billion KRW respectively.

All of the top 10 stocks by market capitalization in the securities market are declining. Samsung Electronics is trading at 67,200 KRW, down 1.32% from the previous trading day. NAVER and Kakao are also down significantly by 2.71% and 2.78% respectively. Others include ▲LG Energy Solution (-0.85%) ▲SK Hynix (-2.20%) ▲Samsung Biologics (-0.38%) ▲Samsung Electronics Preferred (-0.50%) ▲Samsung SDI (-1.99%) ▲Hyundai Motor (-2.16%) ▲LG Chem (-2.83%).

All sectors are also declining. The declines are notable in textiles and apparel (-4.08%), paper and wood (-3.11%), and banking (-2.79%).

At the same time, the KOSDAQ index is at 857.91, down 13.66 points (1.57%) from the previous trading day. The KOSDAQ opened at 853.23, down 18.34 points (2.10%), but the decline has somewhat eased. By investor type, individuals and foreigners are buying 57.5 billion KRW and 15.3 billion KRW respectively, while institutions are solely net selling 69.9 billion KRW.

Many of the top market capitalization stocks in KOSDAQ are also declining. HLB is down 4.59%, showing a significant decline. ▲EcoPro BM (-1.47%) ▲Celltrion Healthcare (-3.03%) ▲Kakao Games (-1.06%) ▲Pearl Abyss (-0.69%) are also down. L&F (0.32%) and Chunbo (0.04%) are slightly up.

Many KOSDAQ sectors are also declining. Transportation (-3.84%), entertainment and culture (-2.98%), and transportation equipment and parts (-2.57%) show large declines.