Mixed Morning Stock Market... Foreign Investors' Net Buying Disappears

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 Junho Hwang] On the 1st, the stock market showed mixed trends amid the disappearance of the foreign investors' continuous net buying momentum.

As of 10:27 a.m. that day, the KOSPI was recorded at 2451.37, down 0.01% from the previous session. While individuals showed a net buying of 110.4 billion KRW, foreign investors and institutions showed net selling intentions of 17.2 billion KRW and 90.2 billion KRW, respectively.

Among all stocks, 414 stocks rose, while the market capitalization leaders showed mixed performance. LG Chem recorded 617,000 KRW, up 2.32% from the previous session, following news that it is preparing for the final clinical trials to enter the gout treatment market. It is known that LG Chem submitted a clinical phase 3 trial plan application for Tigulixostat, a self-developed new gout drug, to the U.S. Food and Drug Administration. LG Chem as well as LG Energy Solution (0.83%), Samsung Biologics (0.43%), NAVER (0.19%), and Samsung SDI (1.76%) are showing upward trends. Samsung Electronics, the unchanging market leader, recorded 61,200 KRW, down 0.33%.

By industry, chemicals and non-metallic minerals are recording gains of over 1%. Construction, transportation equipment, and steel and metals are maintaining upward trends.

The KOSDAQ also showed mixed trends in the early session. As of this time, it was at 804.37, up 0.09% from the previous session. Individuals are supporting the index with net buying of 61.1 billion KRW, but foreign investors and institutions are showing net selling intentions of 42 billion KRW and 17.6 billion KRW, respectively, maintaining the upward curve.

Among the top market capitalization stocks, EcoPro BM rose 3.94%, L&F rose 2.19%, and Chunbo rose 1.99%, while the other stocks failed to avoid weakness. By industry, publishing media, electrical and electronics, and metals are recording gains of over 1%.