KOSPI Continues Weakness... Falls Nearly 1% Due to Foreign and Institutional Selling [fn Afternoon Market]

[Financial News] The KOSPI index is down nearly 1%. As expectations for an interest rate cut recede, disappointment selling is interpreted to have emerged as no specific negotiation details on tariffs were released during the overnight Korea-U.S. summit.
On the afternoon of the 26th, the KOSPI index is trading at 3179.64, down 30.22p (0.94%) from the previous trading day. The index opened at 3199.92, down 0.31% from the previous session, and is moving around the 3180 level.
In the stock market, foreigners are net selling 599.1 billion won and institutions are net selling 323.6 billion won, dragging down the index. Individuals are net buying 860.1 billion won alone.
By industry, entertainment and culture (1.43%), textiles and clothing (1.38%), and food and tobacco (1.11%) are rising, while construction (-3.32%), electricity and gas (-2.85%), and transportation and warehousing (-2.43%) are declining.
Among the top market cap stocks, all are weak except for Samsung Biologics (0.1%). Samsung Electronics (-1.19%), SK Hynix (-0.1%), LG Energy Solution (-0.39%), and Hanwha Aerospace (-0.33%) fell.
On the 25th (local time), the Korea-U.S. summit concluded without specific negotiations or verbal agreements on tariffs being formalized. The securities industry believes that, rather than providing upward momentum for the domestic stock market, short-term supply and demand concentration may appear centered on specific industries and themes such as shipbuilding and inter-Korean economic cooperation stocks.
Jaewon Lee, a researcher at Shinhan Investment Corp., explained, "As expectations for an interest rate cut recede, foreign net selling resumed in the domestic stock market today." He continued, "In the Korea-U.S. summit, the market-anticipated document-type declaration containing the agreement was absent," adding, "The perception that specific figures or detailed plans for semiconductor and pharmaceutical item tariffs, nuclear power, and shipbuilding cooperation were insufficient compared to expectations did not act as a rising material."
At the same time, the KOSDAQ index is trading at 801.56, up 3.54p (0.44%) from the previous trading day. The index started at 793.99, down 0.5% from the previous session, and recovered to the 800 level.
In the KOSDAQ market, individuals and institutions sold 69.5 billion won and 21.2 billion won respectively, while only foreigners net bought 117.3 billion won. 

nodelay@fnnews.com Jiyeon Park Reporter