KOSPI Hits 5,500 Intraday, Then Slides to the 5,260s; Foreign Investors Net Sell 620 Billion Won [fn Afternoon Market Update]

[Financial News] The KOSPI, which had climbed above 5,500 early in the session, reversed course and fell into the 5,260s. Foreign investors, who had been net buyers in the morning, swung to net selling of more than 620 billion won, while Samsung Electronics and SK hynix also turned lower. The KOSDAQ had gained more than 4% at one point, but narrowed its advance to the 0% range in the afternoon.
According to the Korea Exchange (KRX), at around 2:32 p.m. on the 13th, the KOSPI was trading at 5,268.28, down 74.45 points (1.39%) from the previous trading day. The index opened at 5,452.41, up 109.68 points (2.05%), and climbed as high as 5,504.44 early in the session, but then reversed course and fell to an intraday low of 5,263.62.
In the KOSPI Market, foreign investors, who had been net buyers of 262.3 billion won at around 10:08 a.m., turned to net selling of 624.5 billion won in the afternoon. Institutions also shifted from net purchases of 16.3 billion won in the morning to net sales of 88.4 billion won. Individual investors switched from net selling of 402.4 billion won in the morning to net buying of 228.3 billion won.
Samsung Electronics and SK hynix, both up in the 2% range in the morning, turned lower. Samsung Electronics was trading at 205,500 won, down 2,500 won (1.20%), while SK hynix was at 1,201,000 won, down 53,000 won (4.23%). Samsung Electro-Mechanics (-4.40%) and Samsung Biologics (-2.76%) were also lower. By contrast, Shinhan Financial Group (5.06%) and KB Financial Group (4.22%) continued to advance.
At the same time, the KOSDAQ was trading at 698.89, up 2.36 points (0.34%) from the previous trading day. The index climbed as high as 725.81 intraday, gaining 4.20%, but narrowed its advance in the afternoon and fell below the 700 level. In the KOSDAQ market, institutions were net buyers of 134.1 billion won, while individual and foreign investors were net sellers of 93.7 billion won and 46.5 billion won, respectively.

[email protected] Lee Jeong-hwa Reporter