KOSPI Falls on Foreign Selling, KOSDAQ Rises on Strong Pharmaceutical Stocks [fn Morning Market Brief]

[The Financial News] The KOSPI is declining due to strong foreign selling, while the Korea Securities Dealers Automated Quotations (KOSDAQ) is up 2.8% on the back of a surge in pharmaceutical stocks.
According to the Korea Exchange (KRX) on the 28th, as of 10:08 a.m., the KOSPI was trading at 3,939.41, down 47.50 points (-1.19%) from the previous day.
On the main board, individuals and institutions were net buyers of 662.5 billion won and 79.5 billion won, respectively, while foreigners were net sellers of 717.1 billion won.
By sector, construction (1.32%), medical/precision equipment (1.01%), and small caps (0.78%) were strong, while electronics (-2.36%), manufacturing (-1.51%), and large caps (-1.40%) were weak.
Most of the top 10 stocks by market capitalization were declining. Except for Kia (0.44%), Hyundai Motor (0.38%), and KB Financial Group (0.16%), stocks such as LG Energy Solution (-5.71%), HD Hyundai Heavy Industries (-2.71%), Samsung Electronics (-2.42%), and SK hynix (-1.84%) were falling.
In contrast, the KOSDAQ was rising sharply, led by strong gains in the bio sector. At the same time, the KOSDAQ was trading at 904.98, up 24.92 points (2.83%) from the previous day. Foreigners and institutions were net buyers of 292.1 billion won and 233.8 billion won, respectively, while individuals were net sellers of 487.6 billion won.

koreanbae@fnnews.com Ba Han-geul Reporter