KOSPI Shows Mixed Trends Early, Then Strengthens... KOSDAQ's Gains Narrow

Foreigners and Institutions Both Sell
KOSPI Mixed Then Strengthens

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] On the 27th, both the KOSPI and KOSDAQ started higher. However, the KOSPI turned lower within about 20 minutes but then showed mixed movements before turning strong again. The KOSDAQ's gains have significantly narrowed. Foreigners and institutions are selling, showing limitations in supply and demand.

As of 9:19 AM, it is trading at 2365.86, down 0.03% (0.74 points). The KOSPI index opened at 2383.20, up 0.70% (16.60 points) from the previous trading day, but the gain nearly halved within 15 minutes of opening and turned negative within about 20 minutes.

Looking at trading trends by investor type, individuals are net buyers with 173.3 billion KRW. Institutions and foreigners are net sellers with 143.3 billion KRW and 39.2 billion KRW, respectively.

Among the top 10 stocks by market capitalization, Samsung Electronics (+0.17%), LG Energy Solution (+0.37%), SK Hynix (+1.86%), Samsung SDI (+2.36%), Hyundai Motor (+3.47%), and Kia (+2.71%) are on the rise. Meanwhile, Samsung Biologics (-2.17%), Naver (-0.61%), LG Chem (-0.18%), and Kakao (-0.98%) are declining.

By sector, only pharmaceuticals (-0.93%), steel and metals (-0.74%), finance (-0.54%), insurance (-0.28%), and securities (-0.25%) are down.

In the finance sector, investment sentiment appears to have weakened due to expected net profit declines following the Financial Supervisory Service chief's demand to lower loan interest rates. Insurance and securities are also disadvantaged as bond valuation losses increase due to interest rate hikes. In particular, securities firms are expected to see reduced brokerage revenue and lower earnings compared to the previous year due to risk-averse behavior.

As of 9:20 AM, the KOSDAQ index is trading at 758.41, down 1.06% (7.92 points) from the previous trading day. The KOSDAQ opened at 758.00, up 1.03% (7.70 points) from the previous day, but momentum is fading.

Foreigners and institutions are net sellers of 107.3 billion KRW and 63.4 billion KRW, respectively, while individuals alone are net buyers of 172.2 billion KRW.

[Image source=Yonhap News]

Among the top 10 KOSDAQ stocks by market capitalization, Ecopro BM (+16.36%) stands out with a sharp rise following the news of a rights issue ex-dividend. Kakao Games (+4.25%) and L&F (+2.67%) are also notable. Cheonbo and Celltrion affiliates are showing slight gains.

HLB (-0.15%), Pearl Abyss (-1.30%), and Alteogen (-4.24%) are declining, while CJ ENM remains flat.