[Asia Economy Reporter Hwang Yoon-joo] On the afternoon of the 29th, foreign investors and institutions increased their selling pressure in the KOSPI market. Foreign selling also intensified in the futures market.
As of 2:06 PM that day, the KOSPI was trading at 2,387.32, down 1.44% (34.77 points) from the previous day. The KOSPI opened down 1.44% (34.99 points) at 2,387.10 and has been widening its losses since.
The KOSPI is trading below 2,400 due to combined selling by foreigners and institutions. Foreigners and institutions are net sellers of 155.4 billion KRW and 420.9 billion KRW, respectively. Individuals are net buyers of 547.5 billion KRW. Foreigners are net sellers of 361.6 billion KRW in the futures market.
The top 10 stocks by market capitalization are all declining, as they were in the morning session. LG Chem (-6.32%) has the highest decline rate. Hyundai Motor (-5.38%) and Kia (-4.76%), which are under investigation in Germany, also showed notable declines, and LG Energy Solution (-4.51%) is plummeting due to investment withdrawal issues.
By sector, transportation equipment (-3.12%), non-metallic minerals (-2.80%), finance (-1.97%), and electrical and electronics (-1.90%) showed the highest declines. On the other hand, machinery (+2.51%), textiles and apparel (+1.50%), distribution (+1.30%), electricity and gas (+1.25%), and construction (+0.57%) are rising.
Lee Kyung-min, a researcher at Daishin Securities, analyzed, "Amid heightened short-term profit-taking sentiment following a recent technical rebound, concerns about a recession triggered again by poor U.S. consumer sentiment data from the previous day are increasing downward pressure on the stock market. Domestically, the upward revision of Korea's expected inflation and caution over the Bank of Korea's potential big step are stirring fundamental anxiety, and volatility has expanded due to individual corporate issues with Hyundai Motor and LG Energy Solution."
As of 2:18 PM, the KOSDAQ was at 756.14, down 0.56% (4.32 points) from the previous day. The KOSDAQ also opened down 1.34% (10.30 points) at 759.21, but the decline has narrowed compared to the morning session.
On the 13th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index opened at 2,550.21, down 45.66 points (1.76%). The won-dollar exchange rate started at 1,280.0 won, up 11.1 won. Photo by Moon Honam munonam@
This is due to a slight decrease in foreign selling pressure. Foreigners and institutions are net sellers of 165.5 billion KRW and 119.4 billion KRW, respectively. Individuals are net buyers of 291.3 billion KRW.
Unlike in the morning, among the top 10 stocks by market capitalization, only Celltrion Healthcare (+0.30%), HLB (+0.29%), and Celltrion Pharm (+1.57%) are rising. The rest are declining.
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