Foreigners and Institutions 'Sell' Driving KOSPI Down... KOSPI Also 'At Risk' Near 750 Level

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] Due to net selling by foreigners and institutions, the KOSPI index continued its downward trend on the afternoon of the 5th.

As of 1:55 PM that day, the KOSPI index was recorded at 2306.28, down 35.50 points (1.52%) from the previous trading day. The index is declining due to net selling by foreigners and institutions. Foreigners and institutions sold approximately 315.8 billion KRW and 427.8 billion KRW respectively, while individuals bought a net 720.6 billion KRW, helping to cushion the index's decline.

Among the top market capitalization stocks, Kia and Hyundai Motor showed notable declines. Kia and Hyundai Motor fell by 3.32% and 2.25%, respectively. Following them were Samsung SDI (-2.24%), LG Chem (-1.17%), Samsung Electronics (-0.87%), and Samsung Biologics (-0.37%) in a weak trend. Kakao rose more than 3%, recording the largest gain. Naver (NAVER) (2.06%), LG Energy Solution (1.11%), and SK Hynix (0.22%) also showed strength.

By sector, insurance fell the most, down 5.72%. Electricity and gas (-3.99%), transportation equipment (-3.92%), steel and metals (-3.71%), distribution (-3.67%), machinery (-3.50%), finance (-3.14%), and securities (-2.92%) followed in decline. On the other hand, medical precision (1.38%), services (1.06%), and pharmaceuticals (0.76%) were strong.

At the same time, the KOSDAQ index recorded 750.35, down 0.60 points (0.08%) from the previous trading day. The KOSDAQ index started lower that day, falling to 745.42 but recovered above the 750 level. Individuals and institutions bought net amounts of approximately 70.8 billion KRW and 29.6 billion KRW, respectively. Foreigners sold a net 83.9 billion KRW.

Among the top market capitalization stocks, Celltrion Healthcare (2.24%), Alteogen (2.07%), Celltrion Pharm (1.47%), Kakao Games (0.61%), and L&F (0.38%) showed upward trends. Conversely, EcoPro BM (-2.82%), HLB (-1.77%), Chunbo (-1.76%), and Studio Dragon (-0.54%) were weak. Pearl Abyss remained flat.