With Institutions Also Turning to Net Selling,
Individual Net Buying Strengthens, Slowing the Decline Expansion
On the 11th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index opened at 2193.02, down 39.82 points (1.78%) from the previous trading day. The won-dollar exchange rate opened at 1428.0, up 15.6 won. Photo by Moon Honam munonam@
[Asia Economy Reporter Junho Hwang] Even institutions have turned away. On the morning of the 11th, institutions that started with net buying on the KOSPI also changed direction to 'selling.' However, individual investors are strengthening their bottom-fishing purchases, gradually reducing the decline.
As of 10:41 a.m. that day, the KOSPI was at 2,185.66, down 2.11% from the previous session. Individuals are defending the index with net purchases worth 166.4 billion KRW. On the other hand, foreigners and institutions are net selling 61.8 billion KRW and 96.7 billion KRW, respectively. Institutions showed net buying intentions early in the session but gradually expanded net selling as time passed.
Among all stocks, only 50 are showing an upward trend. However, the top market capitalization stocks have stopped widening their losses compared to the early session. Samsung Electronics is trading at 54,400 KRW, down 3.20% from the previous day, and SK Hynix is at 91,000 KRW, down 1.21%. Both stocks recorded declines of over 3% early in the session but are gradually reducing their losses. LG Energy Solution is also expanding its gains compared to the early session, trading 1.87% higher at 491,500 KRW than the previous close.
Sector-wise, changes are also appearing. The transportation equipment sector, which showed a marked decline early in the session (-3.75%), is maintaining its downward range without significant change. Meanwhile, the textile and apparel sector (-4.16%) is showing weakness compared to the early session as stocks like Taepyeongyang Moolsan (-6.34%), F&F (-6.19%), and Jeonbang (-5.83%) deepen their declines.
On the other hand, the KOSDAQ continues to fall without bottoming out. At the same time, the KOSDAQ is down 3.41% from the previous session at 674.68. Individuals are net buying 126 billion KRW, but it appears insufficient. Foreigners and institutions are showing net selling intentions of 80.6 billion KRW and 40 billion KRW, respectively.
Among all stocks, 89 are rising. Among the top market capitalization stocks, only EcoPro BM (1.13%) is on the rise. In contrast, Pearl Abyss (-6.32%), JYP ENT. (-4.85%), and HLB (-4.21%) have fallen sharply.
Meanwhile, the won-dollar exchange rate is trading at 1,432.80 KRW, up 1.44% from the previous session. This rise is analyzed as a result of expectations that high-intensity tightening will continue, following the U.S. employment data showing resilience.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
