KOSPI 3.25% lower, foreign investors 9sell for consecutive days
The KOSPI 19trading day 3.25% lower 7,271.66at close. Foreign investors 9consecutive days, while the share of loss-making KOSDAQ companies was 40%.
19The KOSPI fell 244.38points from the previous trading day to close 7,271.66. The decline was 3.25%. The KOSPI opened the day 90.38points lower at 7,425.66.
Foreign selling continued during the session. Foreign investors 9consecutive days of net selling. The day's selling amounted to 3trillion won.
Large-cap stocks were generally weak. The market was characterized by a lack of momentum among major stocks. Defense stocks were classified as a relatively strong sector that day.
The corporate earnings tally was also released. KOSPI-listed companies’1quarterly operating profit was3times higher. On the KOSDAQ, the share of loss-making companies came to40%.
In shareholder returns, the tally showed that share buybacks canceled exceeded share buybacks disposed of. Canceling treasury shares means retiring shares a company has bought back. Disposing of treasury shares means selling shares held by a company on the market or to a specific party.
Improved earnings and shareholder returns were both evident on the KOSPI. At the same time, foreign investors’ selling and weakness in large-cap stocks coincided, and the index fell sharply. The KOSDAQ showed a different earnings trend from the KOSPI, with a high share of loss-making companies.