KOSPI, Trading Near Flat Amid Foreign and Individual Selling Pressure

On the 3rd, the KOSPI index opened at 2797.14, up 16.28 points from the previous trading day. Dealers are working in the Hana Bank dealing room in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

The KOSPI index is showing a sideways trend during the session, pressured by selling from foreigners and individual investors.

As of 10:40 a.m. on the 3rd, the KOSPI index is trading at 2781.78, down 0.03% from the previous day.

By investor type, institutions are net buyers with 158.8 billion KRW, while foreigners and individuals are net sellers with 13.3 billion KRW and 130.7 billion KRW respectively. In the futures market, institutions and individuals are net buyers with 556.8 billion KRW and 67.4 billion KRW respectively, while foreigners are net sellers with 573.3 billion KRW.

The KOSPI index started strong, influenced by the rise in the New York stock market following dovish remarks by Jerome Powell, Chairman of the U.S. Federal Reserve (Fed), and Tesla's sharp surge. However, the gains narrowed as foreigners and individuals increased their net selling during the session.

Sector-wise, performance is mixed. The transportation and warehousing sector is up 1.66%, financials 1.16%, steel and metals 1.0%, services 0.33%, and securities 0.34% are showing strength. On the other hand, the medical precision sector is down 2.76%, food and beverages -1.89%, electric and gas utilities -1.38%, pharmaceuticals -1.25%, machinery -1.18%, and textiles and apparel -1.3% are weak.

Among the top market capitalization stocks, performance is also mixed. Samsung Electronics is down 0.49%, SK Hynix -1.94%, Samsung Biologics -1.23%, Kia -0.73%, and Celltrion -1.3% are weak. Conversely, LG Energy Solution is up 4.37%, Hyundai Motor 0.18%, KB Financial 4.57%, and POSCO Holdings 1.64% are gaining.

The KOSDAQ index maintains its strength but with a reduced gain. At the same time, the KOSDAQ index is trading at 831.18, up 0.15% from the previous day. By investor type, institutions are net sellers with 56.1 billion KRW, while foreigners and individuals are net buyers with 44.6 billion KRW and 28.2 billion KRW respectively.

Among the top market capitalization stocks, performance is mixed. EcoPro BM and EcoPro are up 4.93% and 8.11% respectively, and HLB is showing a strong surge of 24.03%. Samchundang Pharmaceutical is also slightly up by 0.36%. On the other hand, Alteogen is down 0.38%, Enchem -2.06%, Celltrion Pharm -2.13%, Lino Industrial -2.46%, Classys -0.98%, and HPSP -4.17% are weak.

Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate is trading at 1389.5 won, up 2.6 won from the previous day.