Foreign and Institutional Selling Pressure Increases Early KOSPI Decline... KOSDAQ Also Weak

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI index is widening its losses in early trading due to selling pressure from foreigners and institutions.

As of 9:38 a.m. on the 6th, the KOSPI index stood at 2,311.62, down 30.16 points (1.29%) from the previous trading day. The index opened at 2,330.11, down 11.67 points (0.50%) from the previous day, and is extending its decline. Although foreigners and institutions both recorded net buying and closed higher the previous day, they are showing selling pressure today. Foreigners and institutions sold a net 142.1 billion KRW and 262.9 billion KRW respectively, while individuals bought a net 399.6 billion KRW, helping to cushion the index's fall.

Among the top market capitalization stocks, LG Energy Solution rose 1.38%, showing the largest gain. Kakao (0.97%) and Naver (0.21%) also showed upward trends. On the other hand, Samsung SDI (-2.05%), Hyundai Motor (-1.41%), SK Hynix (-1.41%), Kia (-1.28%), LG Chem (-0.78%), and Samsung Electronics (-0.70%) were weak. Samsung Biologics remained flat.

By sector, most are declining except for Medical Precision (1.58%), Pharmaceuticals (0.34%), and Services (0.06%). Steel & Metals and Insurance fell more than 3%, followed by Electric & Gas (-2.64%) and Machinery (-2.57%).

At the same time, the KOSDAQ index is also slightly down. It recorded 750.26, down 0.69 points (0.09%) from the previous trading day. The index had dropped to 745.42 around 9:11 a.m. but recovered above 750 as individual buying continued. Individuals bought about 90.7 billion KRW, while foreigners and institutions sold about 62.1 billion KRW and 21.2 billion KRW respectively.

Among the top market capitalization stocks, Alteogen rose 1.91%, showing the largest gain. This was followed by Celltrion Healthcare (1.54%), Celltrion Pharm (0.86%), and HLB (0.41%) showing strength. Meanwhile, Studio Dragon (-1.62%), Chunbo (-1.11%), and EcoPro BM (-0.91%) were weak.