The KOSPI index closed lower due to selling pressure from institutional investors.
On the 20th, the KOSPI index closed at 2,657.79, down 22.47 points (0.84%) from the previous day. Trading volume was 596.28 million shares, and the trading value was tentatively estimated at 9.6615 trillion KRW.
By investor type, foreigners and individuals were net buyers of 98.7 billion KRW and 202.4 billion KRW respectively, while institutions were net sellers of 343.9 billion KRW. Program trading saw net selling of 110.7 billion KRW in arbitrage trading and 125.8 billion KRW in non-arbitrage trading.
The New York Stock Exchange was closed the previous day for Presidents' Day. On this day, the KOSPI index started slightly lower due to profit-taking from recent strength in low price-to-book ratio (PBR) stocks. Foreigners initially showed net selling but switched to net buying, whereas institutions expanded their net selling, weighing down the index.
Most sectors declined. The insurance sector fell 3.76%, financials -2.58%, securities -2.19%, distribution -2.17%, transportation equipment -2.05%, construction -1.42%, textiles and apparel -1.2%, machinery -1.05%, steel and metals -0.83%. In contrast, paper and wood rose 1.01%, and medical precision equipment gained 0.55% to close higher.
Among the top market capitalization stocks, more stocks declined. Samsung Electronics fell 0.68%, SK Hynix -1.12%, Samsung Biologics -0.37%, Hyundai Motor -4.16%, Kia -1.28%, Celltrion -1.37%, POSCO Holdings -1.01% all showed weakness. On the other hand, LG Energy Solution rose 1.64%, and Samsung SDI and Kakao also closed higher.
The KOSDAQ index closed higher on the day. The KOSDAQ index ended at 866.17, up 7.7 points (0.9%) from the previous day. By investor type, foreigners and individuals were net buyers of 78 billion KRW and 47.8 billion KRW respectively, while institutions were net sellers of 108.3 billion KRW.
Top market capitalization stocks showed mixed movements. EcoPro BM rose 3.89%, HLB 0.76%, Enchem 10.45%, HPSP 0.53%, Rainbow Robotics 0.3% all showed strength. Shinsung Delta Tech hit the upper price limit, surpassing a market capitalization of 4 trillion KRW. Meanwhile, EcoPro showed a slight decline of 0.83%, and Alteogen -2.57%, Celltrion Pharm -0.68% were weak.
Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1,337.6 won, up 2.4 won from the previous day.
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