Foreign Investors Dump 400 Billion Won in Shares... KOSPI Weakens Despite NVIDIA Tailwind [fn Morning Market Report]

[Financial News] KOSPI fell back to the 6,800 level as foreign investors and institutions continued to sell.
According to the Korea Exchange on the 28th, as of 10:50 a.m., KOSPI was down 1.29% from the previous session at 6,826.18. The index opened 0.95% lower at 6,846.54.
By investor type, foreign investors and institutions were net sellers of 429.2 billion won and 84.5 billion won, respectively, dragging the index lower. Retail investors were net buyers of 23.8 billion won.
Overnight, U.S. stocks rose on strong results from NVIDIA Corporation. The Dow Jones Industrial Average (DJIA) gained 0.20%, the Standard & Poor's 500 Index (S&P 500 Index) rose 0.72%, and the Nasdaq Composite Index advanced 1.57%. The Philadelphia Semiconductor Index (SOX) also climbed 2.33%.
NVIDIA Corporation surged 8.74% after reporting earnings and revenue guidance that beat market expectations.
However, the domestic market appears to be under pressure from profit-taking after the previous day's gains, as well as the possibility of broader semiconductor tariffs in the United States and the impact of the Bank of Korea's benchmark rate hike the day before.
Most large-cap stocks were weaker. Samsung Electronics was trading at 260,000 won, down 2.26% from the previous session. SK hynix was also down 1.39% at 1,706,000 won. In contrast, Samsung Electro-Mechanics rose 3.75%, while Hyundai Motor Company gained 0.25%.
Han Ji-young, a researcher at KIWOOM Securities Co., Ltd., said, "What matters most for KOSPI's direction going forward is whether it can break through and hold above 7,000 points, which it has tried to do several times in August." She added, "There is only a 100-point difference between breaking 6,900 and breaking 7,000, but the psychological momentum from a change in the index's leading digit and the effect of breaking a resistance level could still be significant."
KOSDAQ was also weaker. At the same time, KOSDAQ was down 0.84% from the previous session at 830.63. It opened 0.29% lower at 835.23.
By investor type, retail investors were net buyers of 193 billion won. Foreign investors and institutions were net sellers of 164.5 billion won and 32.2 billion won, respectively.
[email protected] Han Young-joon Reporter