KOSPI Falls More Than 2% Intraday on Foreign Selling
The KOSPI is down more than 2% intraday, pressured by foreign investors' selling.
As of 9:55 a.m. on Oct. 12, the KOSPI was trading at 6,474.57, down 2.33% from the previous trading day.
By investor group, foreign investors were net sellers of KRW 458 billion, while institutions and individual investors were net buyers of KRW 155.1 billion and KRW 188.9 billion, respectively. In the futures market, institutions were net buyers of KRW 351 billion, while foreign investors and individuals were net sellers of KRW 353.8 billion and KRW 13.7 billion, respectively.
Declining sectors outnumbered advancing ones. Telecommunications was down 5.39%, while machinery and equipment fell 3.57%, electrical and electronics 2.84%, securities 2.68%, chemicals 2.61%, manufacturing 2.58%, construction 2.54%, electricity and gas 2.39%, general services 1.73%, entertainment and culture 1.58%, financials 1.34%, distribution 1.34% and metals 1.23%. Transportation and warehousing, meanwhile, was up 2.12%.
Among the largest companies by market capitalization, decliners also outnumbered gainers. Samsung Electronics and SK hynix were down 2.58% and 3.75%, respectively. SK Square fell 4.76%, KB Financial Group 0.18%, Samsung Biologics 2.38%, Samsung Life Insurance 1.67%, Samsung C&T 2.36%, Doosan Enerbility 5.0% and Shinhan Financial Group 0.1%. Samsung Electro-Mechanics, LG Energy Solution and Hyundai Motor, meanwhile, were among the gainers.
The KOSDAQ was also weaker at the same time, trading at 870.63, down 2.4% from the previous trading day. By investor group, institutions and foreign investors were net sellers of KRW 21.7 billion and KRW 91.6 billion, respectively, while individual investors were net buyers of KRW 114.3 billion.
Most of the largest companies by market capitalization were down. Alteogen fell 3.11%, while Jusung Engineering fell 1.12%, EcoPro 4.35%, EcoPro BM 6.75%, Rainbow Robotics 6.99%, SIMMTECH 3.01%, EO Technics 1.34%, Leeno Industrial 8.53%, HLB 1.31%, Samchundang Pharm 8.21%, HPSP 2.01% and PSK Holdings 3.82%. Wonik IPS, meanwhile, was up 1.27%.
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Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate was trading at 1,334.5 won, down 7.5 won from the previous trading day.
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