KOSPI Falls to the 3900 Level Amid Institutional Selling [fn Afternoon Market]

[Financial News] KOSPI slipped to the 3900 level due to institutional selling.
As of 2:23 p.m. on the 1st, KOSPI was trading at 3,902.05, down 24.54 points (0.62%) from the previous session.
KOSPI opened at 3,967.92, up 41.33 points (1.05%) from the previous day, but after fluctuating, it has extended its losses. At one point during the session, it fell to 3,892.08, breaking below the 3900 threshold.
Individuals showed a net buying advantage of 228.2 billion won, but foreigners and institutions net sold 8.2 billion won and 190.5 billion won, respectively, dragging the index down.
By sector, transportation and storage, pharmaceuticals, insurance, medical precision equipment, and electrical and electronics were strong. In contrast, electric and gas, transportation equipment and parts, food and tobacco, construction, and machinery and equipment sectors showed weakness.
Among the top market cap stocks, SK hynix and Samsung Biologics were up by over 1%. HD Hyundai Heavy Industries and Hanwha Aerospace dropped by more than 5%, while Hyundai Motor, Doosan Enerbility, and Kia were down by over 2%.
Meanwhile, KOSDAQ continued its upward trend, trading at 918.02, up 5.35 points (0.59%) from the previous session.
Lee Jae-won, an analyst at Shinhan Securities, noted, "The gap in relative returns between KOSPI and KOSDAQ continues to narrow, following last Friday. Institutional funds are shifting."

jisseo@fnnews.com Seo Min-ji Reporter