KOSPI Weakens Rebound, Hovers Near 2170... Samsung Electronics Turns Down

On the 29th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On this day, the KOSPI index opened at 2197.75, up 28.46 points (1.31%) from the previous trading day. The won-dollar exchange rate opened at 1424.5, down 15.4 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Yoon-joo] The KOSPI and KOSDAQ indices are losing momentum in their afternoon rebound. The KOSPI is barely holding the 2170 level as institutional buying weakens. Semiconductor stocks such as Samsung Electronics and SK Hynix, as well as big tech companies like Naver and Kakao, have turned downward. Among the top market cap stocks on KOSDAQ, only the battery sector is declining.

As of 3:27 PM on the 29th, the KOSPI index stands at 2171.95, up 0.12% (2.66 points) from the previous trading day. The index opened at 2197.75, up 1.31% (28.46 points) from the previous day, and briefly recovered above the 2200 mark. However, the upward momentum sharply weakened in the afternoon session.

Foreign investors and institutions are both buying, but institutional buying has significantly decreased. Foreigners and institutions are net buying 92.4 billion KRW and 10.7 billion KRW, respectively. Earlier, institutions had increased their buying to around 36 billion KRW but have since reduced it. Foreigners are purchasing 456.4 billion KRW in the futures market. Meanwhile, individual investors are net selling 104.9 billion KRW.

Among the top 10 market cap stocks, big tech and semiconductor stocks have turned downward. Naver (-2.00%) and Kakao (-1.58%) have the largest declines. Samsung Electronics (-0.19%) and SK Hynix (-0.62%), representatives of the semiconductor sector, are also falling.

Samsung Biologics has narrowed its losses but still leads gains with a 5.61% increase. Besides that, only LG Energy Solution (1.27%) and Hyundai Motor (1.39%) are on the rise.

As of 3:17 PM, the KOSDAQ index is at 676.49, up 0.39% (2.62 points) from the previous trading day. Individual investors are dragging the index down with net sales of 208.6 billion KRW. Foreigners and institutions are buying 111.2 billion KRW and 97.4 billion KRW, respectively.

On KOSDAQ, only battery stocks among the top 10 market cap stocks have turned downward. Ecopro is down 4.10%, showing the largest decline. Ecopro BM (-0.98%) and L&F (-0.16%) are also slightly down.

JYP Entertainment (6.03%) remains strong in the afternoon. Celltrion Healthcare (3.90%) and Celltrion Pharm (3.45%) also show notable gains.