KOSPI Edges Lower as Retail Investors Face Off Against Foreign and Institutional Selling [Morning Market Update]

[Financial News] KOSPI is trading slightly lower as retail buying offsets selling by foreign and institutional investors. Large-cap semiconductor stocks opened lower and weighed on the market early in the session, but SK hynix has turned higher, narrowing the decline.
According to the Korea Exchange on the 1st, KOSPI was trading at 6,816.14 at 10:43 a.m., down 3.61 points, or 0.05%, from the previous day.
On the Korea Exchange Main Board, retail investors were net buyers of 587.6 billion won, while foreign investors and institutions were net sellers of 317.7 billion won and 736.5 billion won, respectively.
By sector, chemicals (0.81%), insurance (0.85%), and retail (0.63%) were gaining, while construction (-3.52%), machinery and equipment (-1.93%), and transportation equipment and parts (-1.88%) were declining.
Among the largest-cap stocks, SK Group (4.95%), Samsung SDI Co., Ltd. (1.91%), and Shinhan Financial Group Co., Ltd. (1.56%) were strong, while Mobile Tactical Cannon program (-3.45%), Samsung Life Insurance (-1.31%), and Samsung Electro-Mechanics (-1.30%) were weak.
At the same time, KOSDAQ was trading at 822.01, down 12.28 points, or 1.47%, from the previous day. Retail investors were buying 383.9 billion won worth of shares, while foreign investors and institutions were selling 225.5 billion won and 149.5 billion won, respectively.
Han Ji-young, a researcher at KIWOOM Securities Co., Ltd., said, "Concerns over rising long-term U.S. yields and higher oil prices will likely put downward pressure on the market, but strength in U.S. semiconductor stocks, including the broader U.S. market, Micron Technology, Inc., and SanDisk Corporation, along with Republic of Korea's August export momentum, should act as a buffer, leading to a session that starts weak and finishes strong."
[email protected] Bae Han-geul Reporter