Kospi Opens Lower Near 5,000 as Foreign Investors Sell

Summary

• The Kospi opened lower amid foreign investor selling and fluctuated near the 5,000 level.
• On the main board, foreign investors were net sellers of 170 billion won, while individual and institutional investors were net buyers of 160 billion won and 8 billion won, respectively, helping support the market's lower bound.
• The Kosdaq index fell 1.62% to 633.82, posting a bigger decline than the Kospi as both markets remained weak.

Forecast Trend Report by Period

The Kospi opened lower on Nov. 9 and fluctuated near the 5,000 mark as foreign investors sold shares.

As of 9:01 a.m., the benchmark Kospi was down 0.92% from the previous session at 5,013.38. The index opened 0.5% lower before trimming losses and moving around the flat line.

South Korean stocks tumbled last week after the U.S. midterm elections amid concerns over regulations related to artificial intelligence data centers. Investor sentiment had yet to recover clearly on Nov. 9.

Foreign selling was prominent in early trading. On the main board, foreigners were net sellers of 170 billion won. Individuals were net buyers of 160 billion won, while institutions bought a net 8 billion won, helping support the market's lower bound.

Heavyweight semiconductor stocks were mixed. Samsung Electronics traded 0.58% higher at 189,000 won, while SK Hynix fell 0.62% to 1.125 million won.

The Kosdaq market also weakened. At the same time, the Kosdaq index fell 1.62% from the previous session to 633.82, marking a steeper drop than the Kospi.

Suehyeon Lee