[Market Close] KOSPI Ends at 2420... Individual Investors Buy Spot, Foreigners Buy Futures

KOSDAQ Closes Lower Amid Foreign and Institutional Selling Pressure

On the 13th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index started at 2,550.21, down 45.66 points (1.76%). The won-dollar exchange rate began at 1,280.0 won, up 11.1 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Yoon-joo] On the 28th, the KOSPI closed higher for the third consecutive trading day, settling above the 2400 mark. Individual investors solely drove net buying in the KOSPI market, supporting the index, while foreigners were net buyers in the futures market. In contrast, the KOSDAQ turned downward during the session and closed lower due to selling pressure from foreigners and institutions.

On the day, the KOSPI closed at 2422.09, up 0.84% (20.17 points) from the previous day. The KOSPI opened at 2405.20, up 0.14%, but turned lower in the morning session. During the session, it dropped to 2393.96, battling to hold the 2400 level, but turned upward in the afternoon and closed higher.

Choi Yoo-jun, a researcher at Shinhan Financial Investment, analyzed, "The KOSPI narrowed its morning gains and briefly turned lower due to mixed economic indicators," adding, "Macro indicators are mixed, and the financial market is recognizing uncertainty."

The index was driven by individual investors in the cash market. Individuals were net buyers of 105.9 billion KRW alone. Meanwhile, foreigners and institutions were net sellers of 35.4 billion KRW and 88.4 billion KRW, respectively. However, foreigners purchased 97.6 billion KRW in the futures market. When foreigners turned to selling in the futures market during the morning session, the KOSPI also turned lower, and when they bought, the index gained strength.

Among the top 10 market capitalization stocks, only LG Energy Solution (-0.36%) and Kakao (-0.28%) closed lower. The leading stock Samsung Electronics rose 1.02% but remained at the "50,000 won stock" level (59,400 KRW). LG Chem (+4.59%) and Samsung SDI (+2.11%) posted the highest gains on the day.

Sector-wise, machinery (+2.63%) showed a notable increase. This was followed by chemicals (+1.63%), precision medical instruments (+1.95%), construction (+1.94%), transportation equipment (+1.47%), and distribution (+1.45%).

There were 598 advancing stocks and 262 declining stocks on the day. There were no stocks hitting the upper or lower price limits.

The KOSDAQ closed at 769.51, down 0.14% (1.09 points). The KOSDAQ index opened at 770.69, up 0.01% (0.09 points), but turned lower during the morning session and continued to lose momentum.

The index was dragged down by selling from foreigners and institutions. Foreigners and institutions were net sellers of 235.1 billion KRW and 36.3 billion KRW, respectively. Meanwhile, individual investors were net buyers of 276.2 billion KRW alone.

Among the top 10 market capitalization stocks, only L&F (+2.34%), HLB (+0.59%), and Alteogen (+0.17%) closed higher. Ecopro BM (-5.89%), which had surged sharply the previous day due to the illusion effect of the ex-rights date for a free stock dividend, fell the most on the day. Celltrion Healthcare (-1.46%) and Celltrion Pharm (-1.80%) also ranked among the top decliners.

The sectors with the largest declines were general electrical and electronics (-2.58%), entertainment/culture (-1.58%), food and tobacco (-1.54%), and pharmaceuticals (-1.04%).

Lee Jae-man, a researcher at Hana Financial Investment, explained, "The domestic stock market closed mixed with high volatility amid ongoing uncertainty about the economy," adding, "Today, it was notable that related stocks showed strength due to expectations for nuclear power plant exports and expansion."