KOSPI Gives Up 4,900 Level on Foreign and Institutional Net Selling [FN Morning Market Report]

[The Financial News] The Korea Composite Stock Price Index (KOSPI) briefly touched the 4,920 level for the first time ever in early trading on the 20th, but then gave up the 4,900 level under pressure from net selling by foreign investors and institutions.
As of 9:40 a.m. that day, the KOSPI was at 4,869.10, down 0.73% from the previous session. The index opened at 4,900.28, down 0.09% from the previous trading day, then turned slightly higher and climbed to an all-time intraday high of 4,923.53.
However, it soon reversed course and moved lower, widening its losses. The previous day, the KOSPI had risen for 12 consecutive sessions and broke through the 4,900 level for the first time in history, but it fell back below 4,900 just one day later.
In the KOSPI Market, foreign investors and institutions are dragging the index down with net sales of 286.6 billion won and 381.0 billion won, respectively. Retail investors are showing a net buying advantage of 649.6 billion won.
Among large-cap stocks by market capitalization, Samsung Electronics Co., Ltd. (-2.28%) and SK hynix Inc. (-2.16%) are falling more than 2%. Auto stocks such as Hyundai Motor Company (-1.67%) and Kia Corporation (-2.95%), which surged the previous day, are also weak.
In contrast, Naver Corporation (2.10%), Hyundai Rotem Company (1.63%), and LG Energy Solution Ltd. (1.38%) are gaining.
At the same time, the KOSDAQ Index was at 970.45, up 0.22% from the previous trading day.

elikim@fnnews.com Kim Mi-hee Reporter