KOSPI Ends Lower on Foreign and Institutional Selling... Investor Sentiment Weakens Despite Reduced Middle East Escalation Concerns

KOSDAQ Falls Over 2% Intraday but Narrows Loss
Samsung Electronics Down 1.79% Declining
Foreigners Also 'Net Selling' in Futures Market
Hyundai Motor and Kia Draw Attention with Gains

Due to concerns over rising oil prices amid Middle East instability caused by Iran's airstrikes on Israel, the KOSPI fell more than 30 points shortly after opening on the 15th, and the won-dollar exchange rate started with an increase of over 7 won. Stock and exchange rate indices are displayed on the electronic board in the dealing room at the Euljiro Hana Bank headquarters in Seoul. Photo by Heo Younghan younghan@

On the 15th, the KOSPI closed lower due to combined selling pressure from foreign investors and institutions. The KOSDAQ fell more than 2% during the session but narrowed its losses. Despite Israel mentioning 'limited' retaliation and concerns over escalation with Iran subsiding, investor sentiment could not be prevented from weakening.

The KOSPI closed at 2,670.43, down 0.42% (11.39 points) from the previous trading day. The index opened at 2,661.36, down 0.76% (20.46 points) from the previous close, but trimmed losses in the afternoon.

Foreign investors and institutions sold a net 238 billion KRW and 28.1 billion KRW respectively, pulling the index down. Individual investors were the sole net buyers with 248.5 billion KRW. In the futures market, only foreign investors sold, offloading 446.7 billion KRW, while individuals and institutions bought 222.5 billion KRW and 203 billion KRW respectively.

The top 10 stocks by market capitalization ended mixed. Samsung Electronics, the largest by market cap, closed at 82,200 KRW, down 1.79% from the previous close. Celltrion fell 1.98%, NAVER dropped 1.67%, and POSCO Holdings declined 1.14%. Hyundai Motor and Kia attracted attention by rising 1.47% and 4.37% respectively.

The KOSDAQ closed at 852.42, down 0.94% (8.05 points) from the previous day. It opened at 850.21, down 1.19% (10.26 points) from the previous close, and at one point fell more than 2%. Foreign investors sold a net 107.8 billion KRW, dragging the index down. Individual and institutional investors bought net 110.5 billion KRW and 5.7 billion KRW respectively.

The top 10 KOSDAQ stocks by market cap ended mixed. Enchem plunged 12.45% to close at 316,500 KRW. IoTechnics fell 4.76%, Alteogen dropped 4.14%, and Rainbow Robotics declined 3.28%. On the other hand, HLB rose 5.91%, Rino Industrial increased 1.64%, and HPSP gained 1.51%.

Meanwhile, in the Seoul foreign exchange market, the USD/KRW exchange rate closed at 1,384.0 KRW, up 8.6 KRW from the previous trading day.