Individuals, Foreign Investors, and Institutions Sell vs. Samsung Electronics and INICS Corporation's Share Buybacks… Battle for the 7,000-point Mark
Amid Concerns Over U.S. Employment Data, the Three Major Buyers Turn to Selling Ahead of the Holiday
Samsung INICS Corporation Estimates Treasury Stock Volume; Other Corporations Net Buy Over 1 Trillion Won
[Edaily Reporter Kim Kyung-eun ] The KOSPI is testing the 6,900 level. While the three major market participants—retail investors, foreign investors, and institutions—all posted net selling, “other corporations”—presumed to be SamsungElectronics and SK hynix buying back their own shares—were the sole net buyers, helping to defend the market’s bottom.
On the 2nd, the KOSPI and KOSDAQ indices are displayed on a screen in the Hana Bank dealing room in Jung-gu, Seoul. (Photo = Yonhap News)
According to MP Doctor, as of 1:32 p.m. today, the KOSPI is trading at 6,989.33, up 17.98 points (0.26%) from the previous trading day. The index opened at 6,938.27, down 33.08 points (0.47%) from the previous close, and has remained in a range-bound pattern.
By investor type, retail investors are net sellers of 814 billion won, foreign investors of 289.5 billion won, and institutional investors of 22.8 billion won. Other corporations are the sole net buyers, purchasing 1.1255 trillion won.
By sector, chemicals, telecommunications, and metals are showing strength. Pharmaceuticals, securities, and construction are showing weakness.
Among the top two stocks by market capitalization, SamsungElectronics(005930)is trading at 276,000 won, unchanged from the previous trading day. SK hynix(000660)is trading at 1,845,000 won, up 12,000 won (0.65%) from the previous close.
In addition, SKSQUARE(402340)(0.09%), SamsungElectroMechanics(009150)(0.58%), and LG Energy Solution(373220)(1.25%) are on the rise. On the other hand, HyundaiMotor(005380)(-1.43%), SAMSUNG BIOLOGICS(207940)(-3.81%), and SAMSUNG C&T CORPORATION(028260)(-1.01%) are among the decliners.
This is interpreted as investor sentiment being weighed down by lingering concerns over U.S. Treasury yields and caution ahead of the September employment report. Overnight, the yield on the 10-year U.S. Treasury note surged to 5.36% during trading, driven by rising European yields due to concerns over France’s fiscal situation and the sharp spike in the price index of the Institute for Supply Management (ISM) Manufacturing Purchasing Managers’ Index (PMI). Subsequently, the upward trend subsided following dovish remarks by Federal Reserve (Fed) Vice Chair Jefferson, among other factors, and the yield fell back to around 5.24%.
Han Ji-young, an analyst at KIWOOM Securities, said, “Stock prices are likely to show limited upward momentum as some profit-taking occurs due to the U.S. September employment report and wait-and-see sentiment during the domestic holiday period.”
At the same time, the KOSDAQ was trading at 890.74, down 3.55 points (0.40%) from the previous trading day. The index opened at 893.22, down 1.07 points (0.12%) from the previous close, and has been fluctuating since then. At one point during the session, it rose to 903.88, breaking above the 900 mark.
By investor type, retail investors posted net purchases of 115.3 billion won, institutions net purchases of 104.7 billion won, and foreign investors net sales of 219.6 billion won.
The two top-market-cap stocks on the KOSDAQ are showing mixed performance. Alteogen Inc.(196170)is trading at 259,000 won, down 6,000 won (2.26%) from the previous close. ECOPRO CO., LTD(086520)is trading at 88,500 won, up 3,400 won (4.700%).
In addition, Rainbow Robotics(277810)(up 2.28%), LEENO Industrial Inc(058470)(up 3.93%), and SIMMTECH Co., Ltd.(222800)(up 3.82%) are on the rise. JUSUNG ENGINEERING Co.,Ltd.(036930)(down 1.04%), WONIK IPS Co.,Ltd.(240810)(down 4.04%), and EO Technics Co., Ltd.(039030)(down 5.14%) are among those seeing declines.
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