Stock Market Mixed... Foreigners or Individuals?

KOSPI Falls, KOSDAQ Starts Higher
Both Major Markets Turn Down Early, Then Rise Again

On the 28th, the KOSPI index opened at 2,437.57, up 0.91% (22.04 points) from the previous trading day, as dealers were working in the Hana Bank dealing room in Euljiro, Seoul. The won-dollar exchange rate started at 1,306 won, down 7.3 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Junho] On the 1st, the KOSPI showed a downward trend, reversing the upward momentum of the past five trading days. The KOSDAQ, which started higher, also showed a simultaneous decline. It appears that foreign investors, who had been leading the stock market rally, have once again changed direction.

On this day, the KOSPI opened at 2444.05, down 7.45 points (0.30%) from the previous session. As of 9:15 AM, the KOSPI's decline has widened to 0.37%. While individual investors are net buyers with 135.4 billion KRW, raising hopes for a late summer rally, foreign and institutional investors are showing net selling intentions of 67.1 billion KRW and 72.7 billion KRW, respectively.

Among all stocks, 443 stocks rose while 347 stocks showed a downward trend. Among the top market capitalization stocks, major stocks including Samsung Electronics are declining. Samsung Electronics is barely holding the "60,000 Electronics" level, trading at 60,400 KRW, down 1.63% from the previous session. LG Energy Solution is also down 0.59%, at 419,500 KRW. Other stocks such as SK Hynix (-0.82%), Samsung Biologics (-0.69%), and NAVER (-0.77%) are also recording declines since Monday.

By sector, chemicals and textiles/apparel are recording gains in the 1% range, with textiles/apparel, machinery, steel/metals, and non-metallic minerals maintaining upward momentum.

The KOSDAQ is also declining due to net selling by foreign investors. The KOSDAQ opened at 804.15, up 0.53 points (0.07%), but has since turned downward. As of now, the KOSDAQ is down 0.17% at 802.27.

Among all stocks, 724 stocks have declined. Among the top 10 market cap stocks, only EcoPro BM (0.75%), L&F (0.22%), HLB (0.60%), and Chunbo (0.38%) are showing gains.

By sector, metals, electrical/electronics, broadcasting/media, and machinery/equipment are showing gains in the 1% range. IT components, construction, and chemicals are also on an upward curve.

One of the stocks that surged sharply in the early session is Kukil Shindong. This stock rose 690 KRW (22.26%) from the previous session to 3,790 KRW.

As of now, the USD/KRW exchange rate is 1,305.70 KRW, up 0.51% from the previous day.

Additionally, the stock market appears to be widening its losses following a report that last month's trade balance recorded a deficit of 4.67 billion USD, continuing the deficit trend. The trade balance has recorded a deficit for four consecutive months for the first time in 14 years.