The KOSPI is giving up most of its earlier gains due to significant net selling by retail and foreign investors. After opening above the 7,100 mark, the index is now facing the possibility of a downturn amid ongoing selling pressure.
As of 12:49 PM, the KOSPI is up 26.00 points (0.36%) at 7,043.16, according to the Korea Exchange.
The index started the day at 7,161.61, up 153.89 points (2.20%), but has since reduced its gains.
In the securities market, retail and foreign investors are net sellers, offloading 756.9 billion won and 476.1 billion won, respectively. In contrast, institutional investors are net buyers, purchasing 251.2 billion won.
Among the top market-cap stocks, Samsung Electronics (up 2.53%), SK Square (up 3.18%), Samsung Electro-Mechanics (up 3.36%), and SK Hynix (up 0.76%) are seeing gains. Conversely, LG Chem (down 0.2%), HYBE (down 0.45%), and POSCO Future M (down 0.92%) are declining.
At the same time, the KOSDAQ index is up 8.70 points (1.05%) at 843.22 compared to the previous trading day.
In the KOSDAQ market, retail investors are net buyers, acquiring 74.2 billion won, while foreign and institutional investors are net sellers, offloading 9.6 billion won and 63.5 billion won, respectively. Stocks such as Pado (up 11.34%), Buiem (up 9.54%), and Wonik Holdings (up 7.15%) are rising, while Woori Technology (down 2.91%), Rainbow Robotics (down 0.80%), and Pearl Abyss (down 0.80%) are falling.
Overnight, U.S. markets closed mixed, with technology stocks showing strength. The Nasdaq, driven by tech stocks, closed up 122.18 points (0.45%) at 27,244.28, marking a record high for the second consecutive day.
The S&P 500 index fell by 0.06 points (0.00%) to close at 7,764.64, while the Dow Jones Industrial Average dropped 185.14 points (0.36%) to finish at 51,863.69.
Semiconductor stocks led the market's upward trend, with Micron surging 5% and SK Hynix's ADR rising 3.45%. Other companies like SanDisk (up 6.82%), Seagate (up 4.85%), and Western Digital (up 3.67%) also saw gains.
Han Ji-young, a researcher at Kiwoom Securities, stated, "Today, the domestic market is expected to start strong, driven by optimism over increased demand for server DRAM and a more than 2% rise in the Philadelphia Semiconductor Index, along with a similar gain in KOSPI 200 night futures. However, during the trading session, a wait-and-see attitude ahead of the holiday and profit-taking pressures may lead to a shift towards a stock-specific market driven by individual issues."
* This article has been translated by AI.
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