KOSPI Falls Over 1% Due to Net Selling by Foreigners and Institutions... KOSDAQ Drops Below 700 Level
The KOSPI closed down more than 1% as both foreigners and institutions engaged in net selling.
On the 16th, the KOSPI closed at 2,447.43, down 29.98 points (1.21%) from the previous trading day.
On that day, the index opened at 2,472.78, down 0.19% from the previous day. From the early session, the index was pressured by net selling from both foreigners and institutions. During the session, institutions switched to net buying, partially recovering the losses. However, as institutions reverted to net selling, the index widened its decline.
By investor type, foreigners and institutions net sold 458.7 billion KRW and 15.3 billion KRW respectively. Meanwhile, individuals net bought 381.3 billion KRW.
By sector, healthcare and precision industries fell 3.37%, while electrical and electronics, and machinery and equipment dropped more than 2%. Conversely, telecommunications rose 2.53%, and food and tobacco also increased by 1.97%.
Among the top market capitalization stocks, Samsung Electronics closed at 54,700 KRW, down 1,900 KRW (3.36%) from the previous trading day. SK Hynix also fell 3.65%, while Hyundai Motor and Hanwha Ocean dropped more than 2%. Samsung Biologics and Kia declined over 1%. On the other hand, Hanwha Aerospace and KB Financial rose more than 2%, and Shinhan Financial Group increased by 1.49%.
On the KOSPI, including three stocks that hit the upper price limit such as Daehan Sugar and Jusung Corporation, 302 stocks rose. Conversely, 577 stocks declined, including Heungkuk Fire & Marine Insurance Preferred which hit the lower price limit. 56 stocks remained unchanged.
The KOSDAQ closed at 699.11, down 12.81 points (1.80%) from the previous trading day.
By investor type, foreigners and institutions net sold 136.8 billion KRW and 89.6 billion KRW respectively. Meanwhile, individuals net bought 232.4 billion KRW.
By sector, machinery and equipment fell 3.00%, while non-metal, metal, electrical and electronics, and chemical sectors dropped more than 2%. Conversely, other manufacturing rose 1.69%.
Among the top market capitalization stocks, Alteogen closed at 366,500 KRW, down 13,500 KRW (3.55%) from the previous trading day. Rainbow Robotics, Ligand Chem Bio, Kolon TissueGene, Fabtron, and Samchundang Pharmaceutical all fell more than 4%, while EcoPro BM and EcoPro declined 2.60% and 3.51% respectively. On the other hand, Classys rose 2.12%.
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On the KOSDAQ, including eight stocks that hit the upper price limit such as Sangji Construction, Synergy Innovation, and Carelabs, 440 stocks rose. Conversely, 1,173 stocks declined, including Bridge Biotherapeutics which hit the lower price limit. 95 stocks remained unchanged.
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