The KOSPI, which had briefly recovered the 5,500 level during trading, reversed into a decline amid net selling by foreign investors, barely holding onto the 5,300 level.
The KOSDAQ, which had risen more than 4% on expectations for the government's capital market policy roundtable, has also given back most of its gains.
As of 1:36 p.m. on Friday, the KOSPI stands at 5,322.33, down 20.40 points (0.38%) from the previous trading day. The KOSPI opened at 5,452.41, up 109.68 points (2.05%), and at one point during trading rose as high as 5,504.44. However, it began to fall as foreign investors shifted from net buying to net selling.
At the same time in the KOSPI market, institutional investors are net buyers of 63.8 billion won, while retail investors and foreign investors are net sellers of 123.5 billion won and 343.6 billion won, respectively.
Foreign investors began trading with net purchases on this day, extending their streak of net buying to four consecutive days, and at one point during the session expanded their net buying to 220 billion won. However, they turned to selling around 11:40 a.m.
By sector, construction and medical/precision instruments are up in the 2% range, while securities, telecommunications, insurance, general services, and transportation equipment/parts are rising in the 1% range. Electric/electronics and textiles/apparel are down in the 1% range, and electric/gas is falling in the 8% range.
The weakness in electric/gas is interpreted as being driven by rising interest rates and oil prices following U.S. President Trump's remark that negotiations with Iran are unnecessary. Electric/electronics, which includes semiconductor stocks, rose in the 4% range during the morning session on strength in Samsung Electronics and SK hynix, but is now seen to have reversed due to Samsung Electronics giving back its gains and SK hynix turning lower.
Among top market capitalization stocks, SK hynix is down in the 2% range and SK Square is down in the 4% range. Both stocks had risen in the 4th% and 3% ranges, respectively, during the morning session.
Samsung Electronics, which had been up in the 3% range, is hovering around flat. In addition, Shinhan Financial Group is up in the 5% range and KB Financial Group is rising in the 4% range.
At the same time, the KOSDAQ is trading at 708.18, up 11.65 points (1.67%) from the previous trading day. The KOSDAQ opened at 705.96, up 9.43 points (1.35%), and at one point during trading rose more than 4% to reach 725.81.
The KOSDAQ expanded its gains while President Lee was delivering his opening remarks at the "Capital Market Policy Roundtable" that began at 9:30 a.m. in Yeouido, Seoul. However, after the roundtable concluded, it gave back its gains and is currently holding in the low 700s.
In the KOSDAQ market, institutional investors are net buyers of 126.7 billion won, while retail investors and foreign investors are net sellers of 122.2 billion won and 2.8 billion won, respectively.
By sector, non-metals are up in the 7% range, machinery/equipment in the 3% range, transportation equipment/parts in the 2% range, and manufacturing, distribution, electric/electronics, chemicals, metals, construction, finance, and telecommunications are rising in the 1% range. Other sectors are hovering around flat.
All top market capitalization stocks were on an upward trend, but HLB turned to a decline in the 1% range. Rainbow Robotics and PSK Holdings are up in the 9% range, Iotech and Robotis in the 3% range, HPSP, Jusung Engineering, and Simtech in the 2% range, and Ecopro BM is rising in the 1% range.
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