KOSPI, which had held up well, closes lower amid foreign selling pressure [fn Market Close]

[Financial News] The KOSPI Composite Index, which had risen more than 1%, closed lower amid foreign selling.  According to the Korea Exchange (KRX) on the 17th, the KOSPI Composite Index ended at 6,715.41, down 0.04% from the previous trading day. The index opened higher at 6,779.02 and climbed as high as 6,795.53 during the session. Although the Federal Open Market Committee (FOMC) raised the benchmark interest rate by 0.25 percentage points and left open the possibility of additional hikes, the perception that related concerns had already been largely priced into the market supported investor sentiment early in the session.
However, the index quickly pared its gains in the afternoon as foreign selling intensified. It fell as low as 6,697.85 at one point during the session. On the KOSPI market, foreign investors were net sellers of KRW 2.2771 trillion. Retail investors and institutions were net buyers of KRW 413.7 billion and KRW 158.6 billion, respectively.
Among the largest companies by market capitalization, Samsung Electronics ended at KRW 252,500, down 0.39%, while SK hynix closed at KRW 1,745,000, down 0.80%. Samsung Electro-Mechanics fell 3.69%, and SK Square dropped 1.18%. Hyundai Motor rose 0.28%, KB Financial Group gained 1.41%, and Samsung C&T advanced 0.57%.
The KOSDAQ (Korea Securities Dealers Automated Quotations) rose 6.20 points, or 0.76%, from the previous trading day to close at 822.18. On the KOSDAQ market, institutions were net buyers of KRW 44.9 billion, while retail investors and foreign investors were net sellers of KRW 25.1 billion and KRW 33.8 billion, respectively.


[email protected] Han Young-jun Reporter