KOSPI Turns Lower as Foreign and Institutional Investors Pull Back, KOSDAQ Also Weak [Afternoon Market Snapshot]

[The Financial News] The KOSPI is trading lower during the session as foreign and institutional investors continue net selling together.
As of 1:13 p.m. on the 7th, the KOSPI was at 5,428.72, down 21.61 points, or 0.40%, from the previous trading day.
The index opened at 5,552.19, up 101.86 points (1.87%) from the previous day, but it gave up those gains as net selling by foreign and institutional investors persisted.
In the Stock Market Division of the Korea Exchange, foreign investors are selling a net 263.6 billion won. Institutions are also net sellers, offloading 301.9 billion won. In contrast, individual investors are net buyers, purchasing 291.4 billion won.
Among large-cap stocks by market capitalization, movements are mostly mixed. Samsung Electronics is edging down 0.16%, while SK hynix is up 0.79%. LG Energy Solution is down 1.33%, and Hyundai Motor Company is also weak, slipping 0.53%.
By sector, entertainment and culture stocks are down 4.17%, followed by securities at 2.04% lower.
At the same time, the KOSDAQ index was trading at 1,028.12, down 19.25 points, or 1.84%, from the previous session.

dschoi@fnnews.com Choi Doo-sun Reporter