KOSPI Falls Amid Strong Institutional Net Selling... Closes at 2650 Level

[Image source=Yonhap News]

The KOSPI index closed lower, pressured by strong net selling from institutional investors.

On the 5th, the KOSPI index closed at 2649.4, down 24.87 points (0.93%) from the previous day. Trading volume was 447.87 million shares, and the trading value was tentatively estimated at 11.9308 trillion won.

By investor type, foreigners and individuals were net buyers of 85.5 billion won and 398.5 billion won respectively, while institutions were net sellers of 546.1 billion won, weighing down the index. Program trading saw net selling of 195.7 billion won in arbitrage trading and net buying of 147.8 billion won in non-arbitrage trading.

On this day, the KOSPI index opened lower influenced by the weakness in the New York stock market the previous day. Afterwards, with no particular momentum, profit-taking occurred, resulting in a stock-specific market. Bitcoin-related stocks and secondary battery stocks developing new technologies attracted attention.

By sector, more sectors declined. Steel and metals fell 1.75%, electrical and electronics -1.63%, transportation equipment -1.53%, manufacturing -1.14%, services -1.05%, electricity and gas -0.98%, construction -0.8%, and textiles and apparel -0.77%. On the other hand, medical precision rose 1.74%, pharmaceuticals 0.56%, and chemicals 0.3% showed strength.

Among the top market capitalization stocks, more stocks declined. Samsung Electronics fell 1.6%, SK Hynix -0.42%, LG Energy Solution -2.76%, Hyundai Motor -2.54%, Kia -2.07%, Celltrion -0.17%, and POSCO Holdings -2.4%. Meanwhile, Samsung Biologics rose 0.78%, Samsung C&T 1.23%, and KB Financial 0.72% showed strength.

The KOSDAQ index also recorded weakness. On this day, the KOSDAQ index closed at 866.37, down 6.6 points (0.76%) from the previous day. By investor type, institutions and foreigners were net sellers of 182.1 billion won and 71.2 billion won respectively, while individuals were net buyers of 247.3 billion won.

Most of the top market capitalization stocks declined. EcoPro BM and EcoPro fell 5.37% and 4.42% respectively, HLB -2.92%, HPSP -0.54%, Enchem -3.05%, Celltrion Pharm -1.01%, and Lino Industrial -1.69% declined. Sinseong Delta Tech, which attracted attention as a superconductor-related stock, fell 14.76%. On the other hand, Alteogen recorded a strong gain of 14.95%, and Rainbow Robotics also closed up 0.24%.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1334.5 won, up 3.2 won from the previous day.