KOSPI falls below 6,000 as institutions post net selling in the 600-billion-won range [fn Morning Market]

[Financial News] KOSPI, which surged more than 6% the previous day, fell below the 6,000 mark amid institutional net selling in the 600-billion-won range. It briefly topped 6,100 during the session, but gave up its gains and turned lower. KOSDAQ is also down in the 2% range.
According to the Korea Exchange (KRX), as of 10:05 a.m. on the 29th, KOSPI was trading at 5,963.62, down 48.82 points (0.81%) from the previous trading day. The index opened up 4.78 points (0.08%) at 6,017.22 and rose as high as 6,100.11 during the session, but later reversed course and fell.
On the main board, individual and foreign investors are net buyers of 506 billion won and 153.5 billion won, respectively. Institutions are net sellers of 616 billion won.
By sector, insurance (0.49%), food, beverages and tobacco (0.44%), and electrical and electronic equipment (0.04%) are gaining. By contrast, construction (-9.68%), non-metallic minerals (-7.72%), and transport equipment and parts (-3.23%) are among the decliners.
Among the largest stocks by market capitalization, SK Square (4.13%), KB Financial Group (0.45%), and Samsung C&T Corporation (0.15%) are among the gainers. LG Energy Solution (-8.66%), Samsung Electro-Mechanics (-3.68%), and Hyundai Motor (-2.36%) are among the decliners.
Large-cap semiconductor stocks are mixed. Samsung Electronics was trading at 239,500 won, down 2,500 won (1.03%) from the previous trading day. SK hynix was at 1,547,000 won, up 60,000 won (4.03%).
As of 10:07:50 a.m., KOSDAQ was trading at 751.52, down 19.76 points (2.56%) from the previous trading day. Individual investors are net buyers of 179 billion won, while foreign investors and institutions are net sellers of 133.8 billion won and 30 billion won, respectively.
U.S. stocks rose overnight, buoyed by gains in semiconductor shares. The Dow Jones Industrial Average rose 0.19%, the Standard & Poor’s (S&P) 500 rose 0.28%, and the NASDAQ Composite rose 0.27%. The Philadelphia Semiconductor Index gained 1.75%.
However, the domestic market appears to be digesting the pressure to take short-term profits after the previous day’s sharp rally, along with mixed earnings from major U.S. technology stocks.
Han Ji-young, a researcher at KIWOOM Securities Co., Ltd., said, “As the market digests earnings events across major sectors, it will shift toward a market characterized by sector differentiation.” She added, “Key points to watch on Samsung Electronics’ conference call include the scale of long-term supply contracts, conditions for price negotiations, and the status of medium- to long-term sales volumes.”

[email protected] Lee Jeong-hwa Reporter