KOSPI, Foreigners and Institutions Sell Together... Intraday Breaks Below 2400 Level

The KOSPI index fell below the 2400 mark during the session, pressured by simultaneous selling from foreigners and institutions.

As of 10:22 a.m. on the 10th, the KOSPI index was trading at 2389.1, down 1.28% from the previous day.

The KOSPI index opened the session at 2,395.45, down 23.64 points (0.98%) from the previous trading day. On the 10th, dealers were busy moving around in the Hana Bank dealing room in Jung-gu, Seoul. The KOSPI fell below the 2,400 mark during the session for the first time in eight trading days since the 27th of last month (2,383.76). Photo by Yoon Dong-joo doso7@

On this day, the KOSPI index started lower following a sharp drop in bank stocks and the U.S. government's budget announcement, which caused the New York stock market to plunge the previous day. Subsequently, net selling by institutions and foreigners during the session weighed on the index.

By investor type, institutions and foreigners showed net sales of 119.7 billion KRW and 187.9 billion KRW respectively, while individuals were net buyers with 296.1 billion KRW. Program trading recorded net sales of 21.4 billion KRW in arbitrage trading and 107.9 billion KRW in non-arbitrage trading.

Most sectors are showing weakness. The medical precision sector fell 3.05%, securities -2.52%, paper and wood -2.46%, pharmaceuticals -1.98%, finance -1.72%, transportation and warehousing -1.76%, services -1.46%, and telecommunications -1.54%.

Most of the top market capitalization stocks are also declining. Samsung Electronics, ranked first in market cap, is down 1.5%, LG Energy Solution -0.55%, SK Hynix -2.22%, Samsung Biologics -1.43%, LG Chem -1.69%, and Hyundai Motor -0.62%. Meanwhile, Samsung SDI is up 0.41%.

At the same time, the KOSDAQ index is also experiencing a sharp drop of over 2%. The KOSDAQ index is trading at 791.61, down 2.18% from the previous day. By investor type, institutions and foreigners are net sellers of 77.4 billion KRW and 132.7 billion KRW respectively, while individuals are net buyers of 207.1 billion KRW, defending the index.

Most of the top market capitalization stocks are also weak. Ecopro BM is down 3.07%, Celltrion Healthcare -2.79%, Ecopro -5.66%, HLB -3.87%, Kakao Games -3.15%, SM Entertainment -5.42%, and Celltrion Pharm -0.72%. Meanwhile, L&F is up 0.87%.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate is trading at 1326.0 won, up 3.8 won from the previous day.