KOSPI Falls on Foreign Selling, Hovers in the 7,710 Range [Morning Market Update]

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[Financial News] The KOSPI Composite Index is falling by more than 3% as foreign investors continue to sell.
As of 11:50 a.m. on the 15th, the benchmark index was trading at 7,711.30, down 270.11 points, or 3.38%, from the previous session, according to the Korea Exchange (KRX).
On the Korea Exchange Main Board, individual investors were net buyers of 420.77 billion won, while foreign investors and institutions were net sellers of 364.31 billion won and 66.8 billion won, respectively.
By sector, only two industries were in positive territory: Entertainment and Culture, up 0.53%, and Real Estate, up 0.61%. Construction fell 7.21%, Health Care Equipment & Precision Instruments dropped 7.06%, and Distribution declined 4.97%.
Among the largest-cap stocks, Samsung Electro-Mechanics rose 3.71%, Hyundai Motor Company gained 1.26%, and KB Financial Group advanced 0.32%. Samsung C&T Corporation fell 8.03%, Samsung Life Insurance lost 5.00%, and Samsung Electronics dropped 4.81%.
At the same time, the KOSDAQ was trading at 1,159.61, down 31.48 points, or 2.64%, from the previous session. Foreign investors and institutions were net buyers of 115.4 billion won and 13.8 billion won, respectively, while individual investors were net sellers of 79.5 billion won.
Kang Jin-hyuk, a researcher at Shinhan Securities, explained, "Although gains were led by robotics and secondary battery stocks, pushing the index above 8,000 points, semiconductors took a breather and turned lower." He added, "Foreign investors have been engaged in a seven-day selling spree worth trillions of won."
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koreanbae@fnnews.com Bae Han-geul Reporter