KOSPI Falls 0.5% to 2590 as Foreigners and Institutions Sell...

The KOSPI index is weak as foreigners and institutions record net selling dominance.

[Image source=Yonhap News]

As of 9:18 a.m. on the 20th, the KOSPI index was trading at 2594.98, down 13.26 points (0.51%) from the previous trading day. The index started at 2595.38, down 12.86 points (0.49%), and then slightly widened its losses. Individuals were the sole net buyers with purchases worth approximately 154.2 billion KRW, while foreigners and institutions sold net amounts of about 13.2 billion KRW and 140.1 billion KRW, respectively.

Among the top market capitalization stocks, POSCO Future M (-6.04%), POSCO Holdings (-1.50%), SK Hynix (-1.28%), LG Energy Solution (-1.07%), Samsung SDI (-1.01%), and Samsung Electronics (-0.84%) declined in that order. LG Chem rose by 0.50%.

By sector, steel & metals (-1.21%), electrical & electronics (-1.09%), insurance (-0.92%), and manufacturing (-0.75%) were weak. Conversely, paper & wood (0.82%), transportation & warehousing (0.77%), non-metallic minerals (0.70%), and medical precision (0.57%) sectors rose.

On the 19th (local time), the U.S. stock market closed higher as investors monitored corporate earnings reports for the second quarter of this year. The Dow Jones Industrial Average rose 109.28 points (0.31%) to 35,061.21, the large-cap focused S&P 500 index gained 10.74 points (0.24%) to 4,565.72, and the tech-heavy Nasdaq index increased by 4.38 points (0.03%) to 14,358.02. However, there is analysis that the desire for profit-taking in the U.S. market led to selling pressure that gave back gains, which could weigh on the domestic market.

The KOSDAQ index fell 8.52 points (0.92%) to 915.20 compared to the previous trading day. Individuals bought about 225.4 billion KRW worth, while foreigners and institutions sold approximately 138.5 billion KRW and 76.2 billion KRW, respectively.

Among the top market capitalization stocks, Ecopro BM (-6.09%), Ecopro (-4.39%), L&F (-3.41%), and JYP Ent. (-0.39%) declined. HLB rose more than 4%, followed by POSCO DX (3.74%), Pearl Abyss (1.77%), and Celltrion Pharm (0.77%).