KOSPI (Korea Composite Stock Price Index) Narrows Losses After 4.5% Plunge... Foreigners and Institutions Turn to Buying [Fn Morning Market Update]

[Financial News] The KOSPI and KOSDAQ are both falling in early trading on the 20th. The KOSPI plunged more than 4% shortly after the opening and briefly slid to the 6,500 level, but it is narrowing its losses on net buying by foreign investors and institutions. The KOSDAQ is also under pressure, with foreign investors and institutions both selling, leaving the index down more than 2%.
As of 9:50 a.m., the KOSPI stood at 6,739.03, down 1.20% from the previous session. It opened at 6,643.58, down 2.60% from the previous close, and fell as low as 6,515.24, or 4.48%, in early trading. It then trimmed its losses as buying from foreign investors and institutions came in.
On the Korea Exchange Main Board, foreign investors and institutions are net buyers of 416.5 billion won and 93.3 billion won, respectively. Individuals, meanwhile, are net sellers of 519.7 billion won.
Among the large-cap stocks, SK hynix has turned higher, rising 1.14% to trade at 1,863,000 won. Samsung Electro-Mechanics is up 4.62%, and SK Group is also extending gains, up 2.24%. Samsung Electronics is down 0.69%, while financial stocks such as Samsung Fire & Marine Insurance (-8.13%), Samsung Life Insurance (-5.74%), and Shinhan Financial Group (-5.10%) are falling sharply.
By sector, most industries are declining except real estate, which is up 1.02%, nonmetals up 0.27%, and leisure and culture up 0.10%. Insurance (-5.93%), machinery and equipment (-5.05%), and medical and precision instruments (-4.17%) are among the biggest decliners.
At the same time, the KOSDAQ is at 771.61, down 2.55% from the previous session. It opened at 773.21, down 2.35%, and has remained weak since then. On the KOSDAQ, foreign investors and institutions are net sellers of 89.3 billion won and 9 billion won, respectively, while individuals are net buyers of 101.2 billion won.

[email protected] Kim Mi-hee Reporter