Foreign and Institutional Selling Pushes KOSPI Below 2400 Again... KOSDAQ Also Declines ↓

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI index plunged below the 2400 mark due to selling pressure from foreigners and institutions.

As of 2:33 PM on the 6th, the KOSPI index was recorded at 2396.57, down 22.75 points (0.94%) from the previous day. The index opened at 2397.70, down 21.62 points (0.89%), but narrowed the decline and rose to as high as 2416.88. However, due to continued selling dominance by foreigners and institutions, it fell again below the 2400 level. Individual investors were the sole net buyers with purchases worth approximately 334.4 billion KRW, while foreigners and institutions sold about 147.9 billion KRW and 211.5 billion KRW respectively.

Among the top market capitalization stocks, only Samsung SDI (1.00%) and Samsung Biologics (0.60%) showed gains. Kakao fell more than 3%, recording the largest drop. It was followed by Naver (NAVER) (-2.61%), Samsung Electronics (-1.49%), and LG Chem (-1.29%).

At the same time, the KOSDAQ index recorded 721.94, down 11.38 points (-1.55%) from the previous trading day. Individuals bought about 169.4 billion KRW worth, but foreigners and institutions were net sellers with approximately 93 billion KRW and 68.2 billion KRW respectively.

Most of the top market capitalization stocks showed declines. Pearl Abyss, Lino Industrial, and EcoPro fell more than 2%.