KOSPI Starts Higher... Foreigners Sell Spot, Buy Futures

KOSDAQ Shows Mixed Trends... Foreigners Lead 'Selling'

[Image source=Yonhap News]

[Asia Economy Reporter Hwang Yoon-joo] The KOSPI and KOSDAQ started higher on the 28th. However, the KOSDAQ turned lower after about 10 minutes. Foreign investors showed a 'selling' trend immediately after the KOSPI market opened but soon switched to 'buying'.

As of 9:16 AM, the KOSPI is trading at 2411.64, up 0.40% (9.72 points) from the previous day. The KOSPI index opened at 2405.20, up 0.14% (3.28 points) on the day.

Foreign investors, who showed a 'selling' trend right after the opening, switched to 'buying' but are selling again. Foreigners and institutions are net selling 28.8 billion KRW and 66 billion KRW respectively. Individual investors alone are net buying 90.7 billion KRW. In the futures market, foreigners are alternating between net selling and net buying. Currently, they are net buying 24.3 billion KRW.

Among the top 10 stocks by market capitalization, Samsung Electronics (+0.34%), Naver (+0.40%), Hyundai Motor (+2.73%), LG Chem (+1.28%), and Kia (+2.47%) are on the rise. On the other hand, LG Energy Solution (-0.49%), SK Hynix (-0.42%), Samsung Biologics (-0.12%), Samsung SDI (-0.18%), and Kakao (-0.42%) are declining. At the start of trading, only SK Hynix was down, but the number of stocks turning lower has increased.

By sector, only Electric and Gas (-1.89%), Textile and Apparel (-1.32%), Services (-0.22%), Securities (-0.06%), and Telecommunications (-0.14%) are declining.

As of 9:31 AM, the KOSDAQ is at 771.93, up 0.16% (1.25 points) from the previous day. The KOSDAQ opened at 770.69, up 0.01% (0.09 points) on the day. After turning lower following the opening, it has been fluctuating between gains and losses, showing a mixed trend.

Individual investors are driving the index with net purchases of 121.2 billion KRW, but foreign and institutional investors are net selling 114.6 billion KRW and 3.2 billion KRW respectively, resulting in a tug-of-war.

Among the top 10 stocks by market capitalization, L&F (+2.89%), Kakao Games (+0.97%), Pearl Abyss (+0.74%), Chunbo (+0.04%), and CJ ENM (+0.41%) are rising. Celltrion Healthcare (-3.36%), HLB (-0.15%), EcoPro BM (-4.34%), Celltrion Pharm (-2.45%), and Alteogen (-0.66%) are declining.

In terms of sector performance, General Electric and Electronics (-1.92%) showed the highest decline rate. Distribution (-0.93%), Pharmaceuticals (-0.62%), Entertainment/Culture (-0.57%), KOSDAQ New Growth (-0.54%), Manufacturing (-0.11%), and Food & Beverage/Tobacco (-0.07%) are also down.