KOSPI and KOSDAQ Continue Decline...Individual Buyers vs Institutional Sellers

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jaehee] Both the KOSPI and KOSDAQ indices are declining on the 8th due to institutional selling pressure.

As of 11 a.m. on the 8th, the KOSPI index stands at 2484.82, down 0.24% (5.98 points) from the previous trading day. The index opened at 2481.17, down 0.39% (9.63 points) from the previous day, and has been fluctuating since.

Looking at investor trends, individuals and foreigners net bought stocks worth 178.1 billion KRW and 70.2 billion KRW respectively, while institutions alone sold stocks worth 273 billion KRW.

It is interpreted that the domestic stock market was influenced by factors that could burden market supply and demand, such as the renewed strengthening of the dollar following the employment report release, selling pressure on secondary battery-related stocks due to declines in U.S. and Chinese electric vehicle companies like Tesla and NIO, and a 0.91% drop in the Philadelphia Semiconductor Index.

Seo Sangyoung, head of Digital Media Content at Mirae Asset Securities, analyzed, "As the possibility of selling pressure on the secondary battery sector, which recently led the rise in our stock market, has emerged, our market is expected to start slightly lower."

By sector, non-metallic minerals (1.63%), steel and metals (0.98%), machinery (0.88%), distribution (0.81%), food and beverage (0.77%), and transportation equipment (0.65%) showed gains. Conversely, textiles and apparel (-1.83%), transportation and warehousing (-1.61%), medical precision (-1.28%), electrical and electronics (-1.05%), services (-0.91%), and securities (-0.43%) declined.

Among the top 10 market capitalization stocks, Kakao (0.12%) is the only one showing gains. LG Chem and Hyundai Motor are flat, while the rest are all down. NAVER fell the most at -3.37%, followed by SK Hynix (-2.44%), Samsung Electronics (-1.14%), and Samsung Electronics Preferred (-1.06%).

The KOSDAQ index is trading at 828.20, down 0.41% (3.44 points) from the previous trading day at the same time. The index opened at 829.77, down 0.22% (1.87 points) from the previous day.

Looking at investor trends, individuals alone bought stocks worth 117.3 billion KRW. Foreigners and institutions sold stocks worth 82.6 billion KRW and 26.4 billion KRW respectively.

By sector, telecommunications equipment services (2.33%), telecommunications broadcasting services (0.84%), metals (0.82%), distribution (0.61%), and construction (0.58%) recorded gains, while semiconductors (-1.49%), other manufacturing (-1.23%), software (-1.19%), publishing and reproduction (-1.17%), and digital content (-1.09%) declined.

The top market capitalization stocks on KOSDAQ show mixed trends. Celltrion Healthcare (1.72%), L&F (0.45%), Pearl Abyss (1.68%), Celltrion Pharm (0.91%), EcoPro (0.35%), and Chunbo (0.36%) recorded gains, while EcoPro BM (-1.53%), HLB (-1.05%), Kakao Games (-0.70%), and Alteogen (-0.40%) declined.