Foreigners and Institutions 'Sell'... KOSPI and KOSDAQ Both Decline

The KOSPI index is on a downward trend on the morning of the 3rd due to selling pressure from foreigners and institutions.

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

As of 9:40 a.m. that day, the KOSPI index was trading at 2,634.92, down 34.89 points (-1.31%) from the previous trading day. The index opened at 2,643.54, down 26.27 points (0.98%), and widened its losses. Foreigners and institutions sold 74 billion KRW and 198.9 billion KRW worth of stocks, respectively. Individuals are net buyers with 274.5 billion KRW.

Among the top market capitalization stocks, most are declining, including POSCO DX (-7.33%), POSCO Future M (-4.69%), SK Square (-4.74%), HMM (-3.69%), Geumyang (-3.49%), Kakao Pay (-3.02%), Samsung SDI (-3.01%), HD Korea Shipbuilding & Offshore Engineering (-2.87%), and Samsung SDI (-2.78%). However, SK IE Technology (1.85%), Krafton (1.53%), Korea Electric Power Corporation (1.27%), Hanwha Aerospace (1.00%) are rising.

By sector, medical precision (1.25%) and electric gas utilities (1.06%) rose. Except for these, most sectors such as steel and metals (-2.51%), electrical and electronics (-2.32%), services (-2.22%), and transportation and warehousing (-2.11%) are declining.

On the 2nd (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed up 0.07% (25.50 points) at 37,715.04. In contrast, the large-cap-focused S&P 500 index fell 0.57% (27.00 points) to 4,742.83, and the tech-heavy Nasdaq index dropped 1.63% (245.41 points) to 14,765.94. The seven big tech companies known as the 'Magnificent 7,' including Apple and Microsoft, were all weak. The Philadelphia Semiconductor Index plunged nearly 4% due to factors including Chinese semiconductor export restrictions on ASML.

At the same time, the KOSDAQ index fell 7.37 points (0.84%) from the previous close to 871.56. The index opened at 872.21, down 6.72 points (0.76%), and has not rebounded since. Foreigners and institutions were net sellers of 103.4 billion KRW and 64.5 billion KRW, respectively. Individuals bought 175.8 billion KRW.

Among the top market capitalization stocks, Celltrion Pharm (6.68%), Wemade (4.42%), and LS Materials (1.208%) are on the rise. On the other hand, Rinogong (Rino Industrial) (-5.59%), Soulbrain (-3.88%), EcoPro BM (-3.88%), Dongjin Semichem (-2.77%), EcoPro (-2.66%), HLB (-2.44%), Lunit (-2.64%), Rainbow Robotics (-2.41%), SM (-1.71%), and JYP Entertainment (JYP Ent.) (-1.48%) are falling.