KOSPI pushed down to the 3,410 level by foreign selling… Semiconductor stocks 'direct hit'
Summary
- It reported that the KOSPI was pushed down to the 3,410 level by foreign selling, recording a decline in major indices.
- It said that profit-taking sell-offs centered on semiconductor stocks poured in, and both the KOSPI and KOSDAQ markets were weak.
- By contrast, it said that secondary battery stocks and some individual stocks showed strength.
The KOSPI was pushed down to the 3,410 level by foreign selling. Profit-taking sell orders poured in on the 'semiconductor two-tops' that had driven the index's rise. Meanwhile, secondary battery stocks were on a strong trend.
As of 10:56 a.m. on the 17th, the KOSPI was trading at 3410.05, down 39.57 points (1.15%) from the previous day.
Foreign investors are pulling the index down by net selling KRW 175.2 billion worth of cash stocks and KRW 710.4 billion worth of KOSPI200 futures in the securities market. Institutions are also selling KRW 55.8 billion worth of stocks. Individual investors are buying KRW 200.5 billion on their own, but it is not enough to defend the index.
Top market-cap stocks are generally weak.
In particular, Samsung Electronics and SK hynix are down 2.64% and 3.59%, respectively.
Hanwha Aerospace (1.63%) and Doosan Enerbility (-3.16%) are also weak.
Meanwhile, LG Energy Solution is up 1.57%. KB Financial is also strong.
The KOSDAQ was trading at 844.97, down 6.87 points (0.81%) from the previous day. In this market as well, foreign investors and institutions are net selling KRW 114.2 billion and KRW 63.8 billion worth of stocks, respectively, while individual investors are net buying KRW 185.2 billion.
Top market-cap stocks on the KOSDAQ are also generally weak.
In the weak market, EcoPro BM and EcoPro are up 1.55% and 1.83%, respectively.
On the other hand, Alteogen is down 1.32%, Peptron is down 1.67%, Pharmaresearch is down 1.11%, ABL Bio is down 0.99%, and RigaChem Bio is down 1.13%.
Rainbow Robotics is also down 1.38%.
In the Seoul foreign exchange market, the won–dollar exchange rate was trading at 1,381.4 won per dollar, up 1.9 won (0.14%) from the previous day.
Han Kyung-woo, 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.
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