KOSPI Continues to Hover.. Will It Recover 3200 Level [fn Afternoon Market]

[Financial News] The KOSPI index recovered the 3200 level during the session on the 16th but fell back to the 3190 level.
As of 1:40 PM on this day, the KOSPI is pointing at 3193.12, down 22.16p (0.69%) from the previous trading day.
In the securities market, foreigners and institutions are net selling 238.2 billion won and 266.2 billion won, respectively. Individuals are showing a net buying advantage of 440.3 billion won.
Among the top market cap companies, Samsung Electronics is strong. Both Samsung Electronics (1.41%) and Samsung Electronics preferred shares (1.51%) are showing an upward trend of over 1%. On the other hand, SK Hynix continues its early session weakness, trading at 297,000 won, down 0.50%.
Shinhan Investment Corp. researcher Lee Jaewon said, "The KOSPI, which has been continuing its strength by hitting all-time highs day after day, is showing adjustments as profit-taking sales emerge due to the rise in U.S. market interest rates," adding, "Foreigners, who have been net buying spot for four consecutive trading days, also turned to net selling on this day." He continued, "In the meantime, Samsung Electronics is playing a role in supporting the index downward by showing strength following its lead in index rise the previous afternoon."
At the same time, the KOSDAQ index is 812.75, down 0.13p (0.02%) from the previous session.
elikim@fnnews.com Kim Mihee Reporter