In the late morning session, the Korean stock market erased its early gains as large technology stocks turned lower amid foreign selling. Foreign investors net sold 1.26 trillion KRW (approximately $8.42 billion), causing the KOSPI index to retract its earlier advances. Retail investors and institutional investors net purchased 746.4 billion KRW and 524.8 billion KRW worth of Korean stocks, respectively. Leading stocks Samsung Electronics fell 0.25%, while SK Hynix declined 0.2%. Battery manufacturer LG Energy Solution rose 0.94%, and Doosan Heavy Industries gained 3.29%. Biotech and financial stocks advanced. Conversely, AI investment firm SK Square dropped 1.8%, and defense giant Hanwha Aerospace fell 4.73%. Major shipbuilder Hyundai Heavy Industries declined 0.71%, and Samsung Electro-Mechanics fell 2.71%. (Kimten)
Korean stocks erase morning gains as tech shares decline amid foreign selling
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Summary
Korean stocks reversed early gains as the Fear & Greed Index turned negative, weighing on tech shares amid heavy foreign selling. Foreign investors net sold 1.26 trillion KRW (approximately $8.42 billion), while retail and institutional buyers added 746.4 billion KRW and 524.8 billion KRW, respectively. Samsung Electronics declined 0.25%, SK Hynix fell 0.2%, while LG Energy Solution rose 0.94% and Doosan Heavy Industries climbed 3.29%. On-chain data showed mixed flows in the biotech and financial sectors, which nonetheless gained ground. SK Square dropped 1.8%, and Hanwha Aerospace fell 4.73%.
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