'Institutional Selling Pressure' KOSPI Opens Slightly Lower

The KOSPI index is moving slightly lower on the morning of the 10th due to selling pressure from institutional investors.

As of 9:27 a.m., the KOSPI was trading at 2,865.32, down 2.06 points (0.07%) from the previous day. The index opened at 2,863.05, down 4.33 points (0.15%), and has been gradually rising since. Currently, individual and foreign investors have bought stocks worth 118.5 billion KRW and 9.1 billion KRW respectively, while institutions have sold stocks worth 114.3 billion KRW.

Among the top market capitalization stocks, Samsung Life Insurance (2.43%), NAVER (1.17%), Hyundai Motor (0.73%), Samsung Electronics Preferred (0.73%), and Samsung Biologics (0.38%) are rising. On the other hand, Samsung SDI (-2.48%), LG Chem (-1.52%), Kakao (-1.30%), and KB Financial Group (-1.17%) are declining.

As the U.S. stock market continues to show strong performance, the KOSPI, which had been rising to new highs for consecutive days, started slightly lower on the 10th, and the exchange rate increased. Various indices are displayed on the electronic board in the dealing room at the Seoul Hana Bank headquarters. Photo by Heo Younghan younghan@

By sector, insurance (1.42%), transportation equipment (0.86%), and pharmaceuticals (0.23%) have risen. Conversely, medical precision (-0.71%), steel and metals (-0.58%), textiles and apparel (-0.56%), electric and gas utilities (-0.52%), and food and beverages (-0.49%) sectors are down.

On the 9th (local time), at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average, focused on blue-chip stocks, closed down 52.82 points (0.13%) at 39,291.97. The large-cap S&P 500 index rose 4.13 points (0.07%) to 5,576.98, and the tech-heavy Nasdaq index gained 25.55 points (0.14%) to close at 18,429.29, setting another all-time high.

At the same time, the KOSDAQ index recorded 840.01, up 1.36 points (0.16%) from the previous session. The index opened at 859.01, down 1.41 points (0.16%), widening its losses. Foreign and institutional investors sold stocks worth 63.1 billion KRW and 12.7 billion KRW respectively, while individuals bought stocks worth 86.2 billion KRW.

Among the top market capitalization stocks, Samchundang Pharmaceutical (7.18%), Alteogen (2.67%), Classys (1.58%), and Rino Industrial (1.05%) are rising. Meanwhile, Enchem (-2.27%), Soulbrain (-1.53%), Daewoo Electronics Materials (-1.46%), Dongjin Semichem (-1.38%), and HLB (-1.37%) are declining.