KOSPI Falls Over 1% Intraday Amid Net Selling by Institutions and Foreigners

On the 24th, the KOSPI index opened at 2693.65, down 28.16 points (1.03%) from the previous trading day, as dealers were working in the Hana Bank dealing room in Jung-gu, Seoul. The won-dollar exchange rate started trading at 1369 won, up 6.6 won from the previous trading day. Photo by Kang Jin-hyung aymsdream@

The KOSPI index is showing a decline of over 1% during the session, pressured by net selling from institutions and foreigners.

As of 10:16 AM on the 24th, the KOSPI index is trading at 2690.74, down 1.11% from the previous day.

By investor type, institutions and foreigners have net sold 499.6 billion KRW and 177.2 billion KRW respectively, while individuals have net bought 672.3 billion KRW. In the futures market, institutions and individuals are net buying 698.7 billion KRW and 33.8 billion KRW respectively, whereas foreigners are net selling 701.3 billion KRW.

Most sectors are in decline. The insurance sector is down over 2%, securities -1.9%, medical precision -1.7%, electrical and electronics -1.5%, distribution -1.3%, steel and metals -1.3%, pharmaceuticals -1.3%, and electricity and gas -1.2%. On the other hand, food and beverages are up 1.8%, and textiles and apparel are also strong, up 0.3%.

Most of the top market capitalization stocks are also weak. Samsung Electronics is down 2.1%, SK Hynix -0.1%, LG Energy Solution -1.38%, Hyundai Motor -0.5%, Samsung Biologics -1.43%, Celltrion -1.4%, POSCO Holdings -1.4%, and KB Financial Group -1.0%. LG Chem is up 0.6%.

The KOSDAQ index is also continuing its weakness. The KOSDAQ index is trading at 842.73, down 0.45% from the previous day. By investor type, institutions and foreigners are net selling 15.8 billion KRW and 37.6 billion KRW respectively, while individuals are net buying 71.1 billion KRW.

Among the top market capitalization stocks, EcoPro BM and EcoPro are each down 1.2%, Rino Industrial -1.3%, Celltrion Pharm -0.8%, HPSP -3.1%, and Rainbow Robotics -1.6% are weak. On the other hand, Alteogen is up over 2%, HLB 0.3%, and Enchem 2.6% are also strong.

Meanwhile, in the Seoul foreign exchange market, the KRW/USD exchange rate is trading at 1369.9 KRW, up 7.5 KRW from the previous day.