KOSPI Falls Over 2% Below 2600 Level, "Foreign and Institutional Investors Intensify Net Selling"

[Image source=Yonhap News]

The KOSPI is falling more than 2% due to increased net selling by foreigners and institutions, threatening the 2600 level.

As of 1:33 PM on the 16th, the KOSPI recorded 2606.92, down 63.51 points (2.38%) from the previous trading day.

By investor type, foreigners and institutions net sold 343.7 billion KRW and 295.3 billion KRW, respectively. Individuals net bought 628.7 billion KRW.

Most sectors are declining, with medical precision dropping 4.97%. Machinery, electrical and electronics, and insurance are down more than 3%. Additionally, electricity and gas, manufacturing, securities, steel and metals are falling more than 2%. In contrast, food and beverages are slightly rising.

Among the top market capitalization stocks, Samsung Electronics traded at 79,900 KRW, down 2,300 KRW (2.80%) from the previous trading day. SK Hynix is down 4.94%, and LG Chem and KB Financial are also down more than 3%. Additionally, Celltrion, Samsung SDI, and Hyundai Mobis fell more than 2%. Meanwhile, Hyundai Motor is slightly up.

The KOSDAQ recorded 832.82, down 19.60 points (2.30%).

By investor type, foreigners and institutions net sold 196.0 billion KRW and 21.0 billion KRW, respectively. In contrast, individuals net bought 235.7 billion KRW.

By sector, semiconductors fell 4.23%, and machinery equipment and telecommunications equipment dropped more than 3%. Non-metallic minerals, pharmaceuticals, computer services, general electrical and electronics, metals, internet, other manufacturing, and IT components all declined more than 2%. Broadcasting services, however, showed a slight increase.

Among the top market capitalization stocks, EcoPro BM traded at 221,500 KRW, down 6,500 KRW (2.85%) from the previous trading day. Rino Industrial fell 5.56%, and HLB, HPSP, Rainbow Robotics, and Dongjin Semichem dropped more than 4%. On the other hand, Enchem rose 2.05%, and Shinsung Delta Tech also increased by 1.23%.