The KOSPI has reversed and is now in decline. It also lost the 3200 level.
According to the Korea Exchange, as of 11:00 a.m. on the 29th, the KOSPI index was at 3191.94, down 4.38 points (0.14%) from the previous session. The index started at 3208.80, up 12.48 points (0.39%) from the previous session, and even rose to 3212.69, but then reversed to decline.
The KOSPI started strong, benefiting from a robust U.S. stock market the night before, but gave back its gains due to foreign selling. It is experiencing a net sell-off worth 173.6 billion won. Individual and institutional investors are each buying a net 126.4 billion won and 53.1 billion won worth, respectively, but it seems insufficient to lift the index.
Most of the top market capitalization stocks on the KOSDAQ market showed a downward trend. While LG Energy Solution's stock price is down more than 3%, the stock prices of SK hynix, Samsung Biologics, Hanwha Aerospace, and Hyundai Motors are also weak.
While the stock prices of Samsung Electronics, HD Hyundai Heavy Industries, and Kia are rising, only 11 out of the top 30 stocks have seen price increases. The stock prices of 19 stocks are in decline, including those of Hanwha Aerospace and Doosan Enerbility.
At the same time, the KOSDAQ index was at 797.92, down 0.51 points (0.06%) from the previous session. The index opened at 801.96, up 3.53 points (0.44%), before switching to a slight decline. Similar to the KOSPI, a net sell-off of 23.1 billion won by foreigners is leading the index decline.
The stock prices of most top market capitalization stocks on the KOSDAQ are also mostly declining. The stock prices of Ecopro BM and Ecopro, representatives of secondary battery stocks on the KOSDAQ, are both down more than 3%, while the stock prices of PharmaResearch and Rainbow Robotics are also weak.