KOSPI Drops Over 1.5% as Foreign Investors Sell 2 Trillion Won; KOSDAQ Surges 3.71% [fn Closing Market]

[Financial News] The KOSPI fell to the 3,920 level, pressured by net selling of approximately 2.2 trillion won by foreign investors, while the Korea Securities Dealers Automated Quotations (KOSDAQ) index surged by 3.7%, climbing to the 910 range.
According to the Korea Exchange (KRX) on the 28th, the KOSPI closed at 3,926.59, down 60.32 points (-1.51%) from the previous session. The index opened 0.21% higher at 3,995.30 and briefly rose to 4,016.99 in the morning, appearing to recover the 4,000 mark, but later turned downward.
In the main board market, individuals and institutions recorded net purchases of 1.7745 trillion won and 461.3 billion won, respectively, while foreign investors net sold 2.2373 trillion won.
By sector, medical/precision instruments (1.73%), construction (1.42%), and small caps (1.05%) showed strength, while electrical/electronics (-2.85%), manufacturing (-2.00%), and large caps (-1.81%) weakened.
Among the top 10 stocks by market capitalization, most declined. KB Financial Group (0.97%) and Celltrion (0.11%) were exceptions, while LG Energy Solution (-6.51%), HD Hyundai Heavy Industries (-3.61%), Samsung Electronics (-2.51%), and SK hynix (-2.21%) saw significant drops.
In contrast, the KOSDAQ posted a sharp gain as foreign and institutional investors turned net buyers. The KOSDAQ closed at 912.67, up 32.61 points (3.71%) from the previous session. Foreign investors and institutions bought 585.6 billion won and 620.8 billion won, respectively, while individuals sold 1.1373 trillion won.
Unlike the KOSPI, the KOSDAQ's strength is attributed to expectations that the government will announce policies to revitalize the KOSDAQ market, boosting investment sentiment among foreign and institutional investors.
Jungeun Lim, a researcher at KB Securities, explained, "Reports that the government is considering comprehensive measures to strengthen tax benefits for individual investors and pension funds to boost the KOSDAQ market have improved investor sentiment focused on the KOSDAQ." Lim added, "All of the top 30 KOSDAQ stocks by market capitalization rose, with robotics and pharmaceutical/biotech stocks leading the gains."

koreanbae@fnnews.com Baehan-geul Reporter