KOSPI Takes a Breather... Early Trading Weakness

Most Top Market Cap Stocks Decline
Only Bio and Nuclear Power Sectors Show Strength

On October 28, the KOSPI started lower, briefly falling into the 3,000-point range in early trading. This pause is seen as investors are taking profits after the recent sharp rally.

On this day, the KOSPI opened at 4,010.47, down 0.80% from the previous session. During the morning, it dropped to as low as 3,984.48, seemingly breaking below the 4,000-point mark, but quickly recovered. As of 9:22 a.m., it was at 4,011.56.

Net selling by foreign investors and institutions is limiting the index's upward momentum. They recorded net sales of 681.8 billion won and 310.9 billion won, respectively. Individual investors, on the other hand, made net purchases of 1.067 trillion won.

Most sectors declined. The largest drops were seen in electrical and electronics (-1.74%), transportation equipment and parts (-1.27%), manufacturing (-1.15%), and construction (-1.06%). In contrast, pharmaceuticals (1.35%) and IT services (1.28%) rose.

The top 10 stocks by market capitalization also showed weakness. HD Hyundai Heavy Industries (-3.5%), SK Hynix (-2.9%), Samsung Electronics (-2.2%), Hyundai Motor Company (-1.7%), Hanwha Aerospace (-1.5%), LG Energy Solution (-1.3%), and Kia (-1.2%) all fell by more than 1%. Only Samsung Biologics (1.7%) and Doosan Enerbility (1.5%) posted gains.

The KOSDAQ opened at 902.82, up 0.01%. It also dipped to 896.36 in early trading before rebounding to 906.71, setting a new 52-week high. As of 9:22 a.m., it was at 906.37, up 0.41% from the previous day.

Foreign investors and institutions also recorded net sales of 111.3 billion won and 9.1 billion won, respectively, on the KOSDAQ. Individual investors made net purchases of 140.9 billion won.

More sectors on the KOSDAQ rose than fell. Several sectors, including construction (1.88%), retail (1.20%), publishing and media reproduction (1.08%), and medical and precision equipment (1.01%), gained more than 1%. On the other hand, metals (-0.80%), transportation equipment and parts (-0.70%), and electrical and electronics (-0.52%) declined.

Among the top 10 stocks by market capitalization on the KOSDAQ, Rainbow Robotics (2.3%), PharmaResearch (0.9%), Legochem Bio (0.2%), and ABL Bio (0.1%) rose. Ecopro BM (-3.1%), Samchundang Pharm (-2.2%), Peptron (-2.0%), Ecopro (-1.9%), HLB (-0.9%), and Alteogen (-0.5%) declined.