KOSPI Continues to Fall... "Foreigners Buy, Institutions Sell"

On the 28th, the KOSPI index opened at 2437.57, 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 1306 won, down 7.3 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Junho Hwang] On the 2nd, the stock market continues to decline as institutional investors increase net selling despite the return of foreign investors.

As of 10:34 AM, the KOSPI is at 2442.79, down 9.46 points (-0.36%) from the previous session. Individual and foreign investors have both engaged in stock buying after a long time. Individuals purchased stocks worth 166.3 billion KRW, and foreigners bought 68.6 billion KRW worth, helping to prevent the index from falling. However, institutions, led by financial investment (securities firms), sold stocks worth 233.7 billion KRW, causing the index to decline. Among institutions, financial investment sold stocks worth 193.6 billion KRW.

Amid institutional selling, 596 out of all listed stocks are declining, while 236 stocks are rising. Among the top market capitalization stocks, Samsung Electronics (0.65%) and Kia (0.87%) are showing upward trends. LG Chem, which recorded a significant rise the previous day, is falling more than 1% today.

By sector, only transportation equipment, construction, and food and beverage sectors are showing upward trends. In the transportation equipment sector, Hanwha Aerospace (4.19%), Hyundai Mipo Dockyard (3.58%), Hwashin (3.63%), and Hyundai Rotem (3.47%) stand out with strong gains.

The KOSDAQ index is at 804.69, down 2.92 points (-0.36%) from the previous day, with only individual investors showing net buying intentions worth 135 billion KRW. Foreign and institutional investors are net sellers of 110.9 billion KRW and 16.9 billion KRW, respectively.

Among all KOSDAQ stocks, 958 are declining, and most of the top market capitalization stocks are also weak. However, Studio Dragon (3.75%) and EcoPro (0.54%) are showing strength.