KOSPI Battles Around 2790 Level Amid Institutional 'Selling' Pressure

On the 1st, the KOSPI repeatedly experienced slight fluctuations after the market opened. The KOSDAQ started with a slight increase, and the USD-KRW exchange rate began to rise. Starting in July, the foreign exchange market will be open until 2 a.m. Employees are working in the dealing room at the Seoul Hana Bank headquarters. Photo by Younghan Heo younghan@

On the morning of the 1st, the KOSPI started lower and is currently battling around the 2790 level. While institutions are showing strong 'selling' pressure, foreign buying momentum is weakening.

As of 9:13 AM, the KOSPI is trading at 2798.33, up 0.02% (0.51 points) from the previous trading day. The KOSPI opened at 2792.96, down 0.17% (4.86 points) from the previous close.

At this time, foreigners and institutions are net selling 1.3 billion KRW and 33.49 billion KRW respectively. Foreigners were net buyers of 4.3 billion KRW early in the session but turned to 'selling'. Individuals alone are net buyers of 22.1 billion KRW. In the futures market, individuals and foreigners are buying 83.7 billion KRW and 47.7 billion KRW respectively, while institutions alone are selling 132.3 billion KRW.

The top 10 stocks by market capitalization show mixed trends. Samsung Electronics +0.37%, Samsung Biologics +0.14%, Celltrion +1.15%, and KB Financial +1.40% are rising. Meanwhile, SK Hynix -0.63%, Hyundai Motor -0.51%, NAVER -1.56%, POSCO Holdings -0.55%, and Kia -0.08% are declining.

As of 9:19 AM, the KOSDAQ is at 844.75, up 0.51% (4.31 points) from the previous trading day. The KOSDAQ opened at 840.59, up 0.02% (0.15 points) from the previous close. Foreigners alone are selling 15 billion KRW, while individuals and institutions are buying 12.6 billion KRW and 6 billion KRW respectively.

Looking at the top 10 stocks by market capitalization, most are on the rise. Samchundang Pharmaceutical +5.41%, Classys +2.95%, Celltrion Pharmaceutical +2.48%, and HLB +2.39% are showing notable gains.

Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate opened 5.3 won higher at 1382.