KOSPI Starts Rising, Turns Down Early in Session... Increased Volatility

[Asia Economy Reporter Kwon Jaehee] The KOSPI index, which started with a slight rise, turned downward in the early session due to net selling by individuals and foreigners.

As of 9:36 AM on the 13th, the KOSPI index was trading at 2385.59, down 0.38% (9.00 points) from the previous trading day. The index opened the session at 2400.45, up 0.24% (5.86 points), but turned downward early in the session.

By investor type, individuals led the decline by net selling stocks worth 197.7 billion KRW. Foreigners also sold stocks worth 32.3 billion KRW. Institutions were net buyers with purchases worth 235.6 billion KRW.

[Image source=Yonhap News]

Among the top 10 KOSPI stocks, only Samsung Electronics (0.67%) and LG Energy Solution (0.36%) recorded gains. SK Hynix remained flat. Samsung Biologics (-0.64%), Samsung SDI (-0.41%), LG Chem (-0.14%), Samsung Electronics Preferred (-0.56%), Hyundai Motor (-0.51%), NAVER (-1.20%), and Kia (-0.13%) were all in decline.

At the same time, the KOSDAQ index was at 777.40, down 1.42% (11.20 points). The KOSDAQ opened the session at 784.02, down 0.58% (4.58 points), and widened its losses.

By investor type, individuals and institutions were net sellers of 40.3 billion KRW and 3.7 billion KRW respectively, while foreigners were net buyers of 63.5 billion KRW.

Among the top market cap stocks on the KOSDAQ, SM, which is involved in a management rights dispute, showed a sharp decline early in the session, down 17.73%. Other stocks also declined, including Kakao Games (-0.70%), Celltrion Pharm (-3.53%), Celltrion Healthcare (-2.41%), and L&F (-0.21%). On the other hand, EcoPro (7.29%), EcoPro BM (3.05%), and HLB (2.86%) recorded gains.