Foreigners and Institutions 'Sell'... KOSPI and KOSDAQ Both Weak

The domestic stock market is weak on the morning of the 8th due to selling pressure from foreigners and institutions.

At 9:27 a.m. on this day, the KOSPI was trading at 2,538.39, down 30.02 points (1.17%) from the previous day. The KOSPI opened at 2,530.21, down 38.20 points (1.49%), and has yet to rebound. Currently, foreigners and institutions are net selling 96.1 billion KRW and 153 billion KRW worth of stocks, respectively. Individuals are buying alone with 248.2 billion KRW worth of stocks.

Securities company app, stock trading scene. Photo by Hyunmin Kim kimhyun81@

Among the top market capitalization stocks, HD Hyundai Heavy Industries (2.20%) and Samsung Life Insurance (0.82%) are showing some gains. Most stocks such as SK Hynix (-4.49%), Samsung SDI (-2.69%), LG Chem (-2.59%), Samsung Electronics (-2.01%), LG Energy Solution (-2.00%), Hyundai Mobis (-1.89%), and Kia (-1.57%) are declining.

By sector, construction (1.70%), medical precision (1.66%), securities (0.66%), and telecommunications (0.57%) are rising. On the other hand, sectors such as electrical and electronics (-2.26%), chemicals (-1.56%), manufacturing (-1.56%), food and beverages (-1.19%), and electricity and gas (-1.06%) are falling.

On the 7th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 38,763.45, down 234.21 points (0.60%) from the previous trading day. The S&P 500, focused on large-cap stocks, fell 40.53 points (0.77%) to 5,199.50, and the tech-heavy Nasdaq dropped 171.05 points (1.05%) to 16,195.81. The U.S. stock market closed lower amid concerns over slowing consumer spending, and investment sentiment across the semiconductor sector appeared to deteriorate.

At the same time, the KOSDAQ index recorded 740.59, down 7.95 points (1.06%) from the previous session. The index opened at 738.29, down 10.25 points (1.37%). Foreigners and institutions sold 80.4 billion KRW and 26.9 billion KRW worth of stocks, respectively. Individuals are net buyers with 103.9 billion KRW worth of stocks.

Among the top market capitalization stocks, Pharma Research (4.07%), Hugel (2.35%), Lino Industrial (2.28%), and Silicon Two (1.07%) are rising. Conversely, Enchem (-5.33%), Samchundang Pharmaceutical (-4.81%), Nexon Games (-4.26%), EO Technics (-4.10%), and HLB (-3.88%) are declining.