KOSPI Weakens Intraday Amid Net Selling by Institutions and Foreigners

[Image source=Yonhap News]

The KOSPI index is showing weakness during the session, pressured by net selling from institutions and foreigners.

As of 10:01 AM on the 19th, the KOSPI index is trading at 2659.92, down 0.96% from the previous day.

By investor type, institutions and foreigners are net sellers of 402.4 billion KRW and 163.3 billion KRW respectively, while individuals are net buyers of 554.3 billion KRW. In the futures market, institutions and individuals are net buyers of 459.4 billion KRW and 223 billion KRW respectively, whereas foreigners are net sellers of 646.3 billion KRW.

The New York stock market closed higher the previous day, supported by strength in artificial intelligence (AI)-related stocks. However, concerns remain that interest rate cuts may be delayed ahead of the U.S. Federal Open Market Committee (FOMC) meeting. Due to this, the KOSPI index started lower and is extending its losses under pressure from net selling by institutions and foreigners.

Most sectors are declining. The electric and gas utilities sector is down 4.27%, transportation equipment -2.77%, electrical and electronics -1.06%, manufacturing -1.06%, insurance -1.08%, medical precision -0.92%, steel and metals -0.85%. On the other hand, paper and wood is up 2.1%, textiles and apparel 0.49%, and machinery 0.5%.

Most of the large-cap stocks are also declining. Samsung Electronics and SK Hynix are down 1.1% and 2.92% respectively, LG Energy Solution -0.37%, Samsung Biologics -0.81%, Hyundai Motor -2.27%, Kia -6.56%, Celltrion -0.49%, POSCO Holdings -1.48%. Meanwhile, Samsung SDI is up 0.68%.

The KOSDAQ index is also showing slight weakness. At the same time, the KOSDAQ index is trading at 892.06, down 0.27% from the previous day. By investor type, institutions and foreigners are net sellers of 43.3 billion KRW and 127 billion KRW respectively, while individuals are net buyers of 171.9 billion KRW.

Large-cap stocks on the KOSDAQ are mixed. EcoPro is slightly up by 0.37%, and strong performers include Rino Industrial 4.72%, Rainbow Robotics 9.5%, Shinseong Delta Tech 6.56%, and JYP Ent. 0.29%. On the other hand, EcoPro is down 0.81%, HLB -1.19%, Alteogen -0.99%, HPSP -0.94%, and Enchem -3.25%.

Meanwhile, in the Seoul foreign exchange market, the KRW/USD exchange rate is trading at 1337.7 KRW, up 4 KRW from the previous day.