[Morning Market] Foreigners sell Samsung Electronics for the second ... The KOSPI is rising
- Foreign investors and affiliates sell Samsung Electronics
- KOSDAQ market constraint and sluggish biotech
- CJ E&M up for the first 2 trading days after merger announcement
On the first day of February, the KOSPI index began to climb due to strong buying by individual investors.
On the other hand, the Kosdaq index fell for the second time due to the sluggishness of major pharmaceutical and biotech companies.
The KOSPI index rose 10.20 points, or 0.41 percent, to close at 2,576.670.
Foreigners and institutions poured KRW 101.5 billion and KRW 76.9 billion, respectively, but individual investors are net buying KRW 175.2 billion to defend the index.
The Federal Open Market Committee (FOMC) said it would raise prices this year after freezing overnight rates. US stocks declined shortly after the announcement, but ended on a climb as tech stocks rebounded.
Sang Sang-young, a researcher at Kiwoom Securities, said, "Although the Korean stock market may be adjusted due to concerns about tightening after the FOMC, the US Customs Service is expected to announce that exports have increased year-on-year in December," said the Korea Customs Service The index will be the driving force for the rise of the Korean stock market. "
The share price of Samsung Electronics, which lost ground due to the sell-off of foreigners and institutions after surging immediately after the announcement of the split decision on the previous day, shows a similar trend on the same day.
Foreigners and institutions sold 40 billion won and 15 billion won, respectively, while the share price is trading at 251,600 won, up 0.84 percent.
LG Chem shares fell 0.23 percent to close at 3 for the third consecutive day. Despite the record-high earnings, LG Chem's fourth-quarter operating profit fell below market consensus.
SK Hynix (1.22 percent), POSCO (2.89 percent) and Samsung Corp. (0.35 percent) rose for the second day. NAVER also climbed 1.87% and rebounded after falling for the last two days.
On the other hand, Hyundai Motor (-1.23%), KB Financial Group (-1.49%) and Samsung Bio Logics (-1.03%) rose in the first day.
The KOSDAQ index is heading for two consecutive days under the heavy selling of foreigners. Foreign investors have sold 112.3 billion won and the index has been pulling down, while individuals and institutions have net bought 25.2 billion won and 96.1 billion won respectively.
In particular, pharmaceuticals and biotech stocks, which are above market capitalization, are sluggish. Celltrion fell by -4.24% to KRW304,200. Celltrion Healthcare (-4.09%) and Celltrion Pharmaceutical (-0.21%) also fell.
Vyhmmed shares fell 8.03% on the day, falling 5.99% on the day, with the second drop on the second day. Silla (-2.74%), Meditox (-1.38%) and Tissue Jean (-2.65%) are on the decline.
On the other hand, CJ E & M, which has been sluggish for some time since its announcement of merger with CJ O Shopping, rose for the second consecutive day with a rise of 2.77% on the day.
CJ E & M's share price has risen for four consecutive trading days until 17th, just before the merger issue.
On the other hand, the barrel that produces long-sleeved swimsuit lash guards has risen 42 percent to 13,500 won from 9500 won on the first day of listing.
At the same time, the KRW / USD exchange rate in the Seoul foreign exchange market has increased by 1.1 won to 1069 won.