‘Three-thousand-pi’ slips away… Drops below the 2,960 level as shift to decline on institutional selling
Summary
- It was reported that the KOSPI turned lower, falling below the 2,960 level due to selling pressure from institutions and foreigners.
- Individual investors are engaging in net buying, but it was stated that their efforts are insufficient to lift the index.
- Most of the top market cap stocks are showing a downward trend, and the KRW-USD exchange rate is also rising.
The KOSPI reversed to a decline due to institutional selling. Although it attempted to break through the 3,000 mark early in the session, it was pushed below the 2,960 level.
As of 10:46 a.m. on the 19th, the KOSPI is trading at 2,959.07, down 13.12 points (0.44%) from the previous day. Right after the market opened, it rose to 2,996.04 and tried to break the 3,000 mark, but then paused for breath.
Foreign investors, who were net buyers of KOSPI 200 futures at the start of the session, switched to selling and are putting downward pressure on the index by increasing their spot and futures sales. In the stock market, foreign investors have sold ₩209.2 billion worth of stocks. KOSPI 200 futures sales also amount to ₩239 billion. Institutions are also net sellers of spot stocks, with net sales amounting to ₩164.3 billion. Although individuals are buying ₩373.4 billion worth on their own, it seems to be insufficient to lift the index.
Most of the top market cap stocks are down.
Samsung Electronics is down 0.92%, and SK Hynix is showing slight weakness.
Samsung Biologics is also down 0.7%.
Hanwha Aerospace and Doosan Enerbility are down 0.97% and 2.13%, respectively.
Only NAVER is up 4.11%.
KOSDAQ is trading at 778.66, down 1.07 points (0.14%) from the previous day. In this market, individuals are buying ₩142.8 billion worth of stocks, while foreigners and institutions are selling ₩136.2 billion and ₩2.5 billion worth, respectively.
Among the top market cap stocks in KOSDAQ, movement is mixed.
Peptron is up 6.92% and PharmaResearch is up 4.17%.
On the other hand, Alteogen and HLB are down 1.27% and 2.88%, respectively.
In the Seoul Foreign Exchange Market, the KRW-USD exchange rate is trading at 1,382 won per dollar, up 9.69 won (0.71%) from the previous day.
Hankyungwoo, Hankyung.com reporter case@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
