Foreigners' 'Palja' Leads to Simultaneous Decline in KOSPI and KOSDAQ

The KOSPI index is on a downward trend due to foreign selling pressure.

Securities company app, stock trading scene. Photo by Hyunmin Kim kimhyun81@

As of 10:13 AM on the 31st, the KOSPI index was trading at 2,298.48, down 12.07 points (-0.52%) from the previous trading day. The index opened at 2,318.39, up 7.84 points (0.34%), but later gave up its gains. Individuals and institutions were net buyers of approximately 182.8 billion KRW and 25.8 billion KRW respectively, while foreigners were net sellers of 226.6 billion KRW.

Among the top market capitalization stocks, Samsung C&T (1.60%), Shinhan Financial Group (1.32%), Naver (NAVER) (0.54%), and Samsung Life Insurance (0.42%) rose. POSCO Future M (-6.65%), Samsung SDI (-4.31%), POSCO Holdings (-3.70%), and LG Energy Solution (-3.58%) declined.

By sector, insurance (1.80%), precision medical instruments (1.68%), services (1.61%), and transportation & warehousing (1.41%) rose. Meanwhile, paper & wood (-5.26%) and steel & metals (-1.84%) sectors fell.

On the 30th (local time), the U.S. stock market saw major indices rise by over 1%, influenced by a weaker dollar. On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 32,928.96, up 511.37 points (1.58%) from the previous session. The Standard & Poor’s (S&P) 500 index rose 49.45 points (1.20%) to 4,166.82, and the Nasdaq index closed at 12,789.48, up 146.47 points (1.16%).

At the same time, the KOSDAQ index recorded 747.83, down 9.29 points (-1.23%) from the previous session. Individuals bought 163.2 billion KRW worth, but foreigners and institutions sold 136.9 billion KRW and 23.5 billion KRW respectively.

Among the top market capitalization stocks, Classys (2.75%), Hugel (1.79%), and Rainbow Robotics (1.15%) rose. Africa TV (-13.33%), Rino Industries (-7.68%), and Duksan Neolux (-7.28%) declined.