KOSPI Midday Around 2670 Slightly Weak... Only Foreigners Are Buying Alone

Individual and Institutional Selling, Foreigners Buying
Among Top Market Cap Stocks, Only LG Holds Above 3%
KOSDAQ Sees Gains in Enchem and Entertainment Stocks

The KOSPI is showing a slight decline around the 2670 level during the session.

As of 11:20 AM on the 11th, the KOSPI is trading at 2671.02, down 9.33 points (0.35%) from the previous close. The index opened at 2665.58, down 14.77 points from the previous trading day, rebounded to a session high of 2688 in the early session, and is now moving around the 2670 level.

By investor type, individuals and institutions sold net amounts of 19.1 billion KRW and 26.9 billion KRW respectively. Meanwhile, foreigners were the sole net buyers with 28.1 billion KRW.

By sector, machinery (1.88%), services (1.38%), and textiles & apparel (0.84%) are rising. Other sectors are declining. Medical precision (-4.07%), securities (-2.12%), and steel & metals (-1.47%) are showing declines exceeding 1%.

By stock, 387 stocks are rising, 487 are falling, and 61 are unchanged. Among the top 25 companies by market capitalization, only LG (3.47%) is showing a gain exceeding 2%. In contrast, Hyundai Motor (-2.17%), Samsung SDI (-2.46%), and SK Hynix (-2.68%) are falling more than 2%.

Last week, the U.S. stock market closed lower across the board due to a sharp drop of over 5% in Nvidia, which had recently led the rally. Not only Nvidia, but also semiconductor leaders such as Intel (-4.66%), AMD (-1.89%), and Micron Technology (-1.37%) declined.

The KOSDAQ index is trading down 1.26 points (0.13%) at 872.02.

By investor type, individuals bought 156.8 billion KRW, while foreigners and institutions sold 92.5 billion KRW and 52.9 billion KRW respectively.

There are 751 stocks rising, 824 falling, and 75 unchanged. Most of the top market cap stocks are declining, but Enchem, recently emerging as a leader in secondary batteries, is up 13.17%, showing a gain exceeding 10%. The entertainment sector, including JYP Ent. (4.72%), SM (2.46%), and Studio Dragon (2.49%), is also rising after a while. On the other hand, Alteogen (-4.87%), Rino Industrial (-5.80%), EO Technics (-6.56%), and ISC (-4.95%) are showing declines around 5%.

Lee Kyung-min, a researcher at Daishin Securities, said, "Despite the shock from the sharp decline in U.S. semiconductors, we still see a high possibility of breaking through the 2700 level." He added, "Not only semiconductors but also sectors such as banks, trading companies & capital goods, and insurance, which are expected to strengthen shareholder return policies ahead of the shareholder meeting season, are showing strength, indicating that there are sectors that will lead further attempts at a KOSPI rebound." He further noted, "There is a high likelihood of continued rotation among suppressed growth stocks and export stocks. In particular, we focus on semiconductors, pharmaceuticals & bio sectors, and secondary batteries, which have favorable earnings outlooks and solid foreign demand."