The KOSPI index fell more than 1% right after the open on the 24th, fluctuating around the 6,830 level. Foreigners and institutions are continuing net selling together.
As of 9:05 a.m., the KOSPI index was at 6,836.49, down 1.11% (76.46 points) from the previous session. The KOSPI started the day at 6,881.07, down 31.88 points (0.46%) from the prior trading day.
The main board is being dragged down by foreigners and institutions. Foreigners are net selling 326.0 billion won and institutions 217.9 billion won, while individuals alone are net buying 517.2 billion won.
Among large-cap stocks on the main board, moves are mixed. Samsung Electronics(005930) and Samsung Electronics(1P)(005935) are falling, while SK hynix(000660) is rising. In addition, Samsung Electro-Mechanics, Hyundai Motor, LG Energy Solution, and Samsung Biologics are gaining, but SK Square, Samsung Life Insurance, and Samsung C&T are falling.
At the same time, the KOSDAQ index was at 813.35, up 11.41% (1.42%). The KOSDAQ started the session at 804.27, up 0.29% (2.33 points) from the prior trading day.
The KOSDAQ market is being led by foreigners. While individuals and institutions are net selling 400 million won and 19.6 billion won, respectively, foreigners alone are buying a net 24.7 billion won.
Out of the top 10 KOSDAQ stocks by market cap, six are rising. While Alteogen is slightly firm, EcoPro, EcoPro BM, Jusung Engineering, HLB, LEENO Industrial, and PharmaResearch are climbing. Rainbow Robotics, Wonik IPS, and EO Technics are falling.
On the 21st, the last trading day of last week, the three major U.S. stock indexes all closed higher despite concerns about rising yields on U.S. Government Bonds. Bargain hunting flowed in after recent stock declines.
On top of that, investor sentiment improved as U.S. services activity showed expansion. The U.S. August services purchasing managers index (PMI) business activity flash reading came in at 56.8, up 2.2 points from the previous month.