Purchased 312.6 Billion KRW Worth of Stocks Individually
"Clear Lack of Direction Amid Interest Rate Hike Concerns"
The KOSPI and KOSDAQ indices closed lower due to net selling by foreigners and institutional investors.
On the 10th, the KOSPI closed at 2520.70, down 0.24% (6.01 points) from the previous trading day. The KOSPI started the day up 0.05%, showing strong mixed trends before ending the session in a decline. In the morning, the index rose as expectations grew that the Chinese government might introduce strong stimulus measures. This optimism was fueled by weaker-than-expected Chinese economic indicators. China's June Consumer Price Index (CPI) rose 0%, a 0.2% decrease compared to May's CPI, while the Producer Price Index (PPI) fell 5.4% year-on-year.
The main drivers pulling the index down were foreigners and institutional investors. Foreigners and institutions sold stocks worth 152.9 billion KRW and 190.6 billion KRW respectively, while individual investors bought stocks worth 312.6 billion KRW alone.
By sector, the insurance and construction industries showed strength, rising 4.7% and 4% respectively. Among insurance companies, Samsung Life Insurance (6.1%) and Samsung Fire & Marine Insurance (4.7%) showed strong gains. In construction, GS Engineering & Construction, which had fallen more than 20% due to the aftereffects of apartment reconstruction in Geomdan, Incheon, rose about 2.6%, and Daewoo Engineering & Construction climbed nearly 8% on expectations of improved second-quarter earnings. Additionally, companies like Sambu Construction (26%) and Namkwang Construction (10.4%) showed strong gains, which is analyzed as reflecting expectations of benefits from discussions on Ukraine's reconstruction.
Samsung Electronics closed at 69,500 KRW, down 0.57% despite net buying by foreigners, as institutions took profits. SK Hynix also fell 1.34%. Most of the top market cap stocks showed declines, including LG Energy Solution (-2.14%), Samsung SDI (-1.72%), Samsung Biologics (-1.53%), LG Chem (-0.3%), Kia (-0.46%), POSCO Holdings (-0.75%), and NAVER (-0.92%).
The KOSDAQ index closed at 860.35, down 0.8% (6.92 points) from the previous trading day. The KOSDAQ started the day up 0.08%, showing mixed trends before widening its losses in the afternoon. Individual investors bought stocks worth 227.4 billion KRW alone, while foreigners and institutions sold stocks worth 94.6 billion KRW and 140.7 billion KRW respectively.
On this day, EcoPro briefly surpassed 1 million KRW during trading, eyeing the position of a so-called "emperor stock." However, as the decline widened toward the end of the session, EcoPro closed down 1.5%. EcoPro BM ended the day up 1.79%. Most of the top market cap stocks showed declines, including L&F (-1.26%), JYP Ent. (-2.06%), HLB (-2.11%), Pearl Abyss (-1%), and Celltrion Pharm (-1.43%).
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