[Opening Market] KOSPI Battles 5,240 Amid Foreign Selling
The domestic stock market opened weaker on Nov. 11 in the aftermath of inflation vigilance and tech stock weakness highlighted in the U.S. New York stock market overnight, but it is engaging in a tense battle around the flatline as intraday low-point buying flows in.The KOSPI index began trading on
On November 11, South Korea's KOSPI stock index began trading at 5,209.71, down 29.42 points (0.56%) from the previous day, amid concerns over inflation and weaker tech stocks in the U.S. market. Initially, the index surged more than 4% after opening but has since stabilized around the 5,240 mark, defending it with buying flows.
The KOSDAQ index also showed resilience, overcoming tech stock declines and maintaining gains between 660 and 670 marks. Foreign investors, who had been net buyers earlier in the week, shifted to a selling stance, selling around 80 billion won in large-cap semiconductor and vehicle-related stocks. Meanwhile, domestic retail and institutional investors supported the market by net buying approximately 120 billion won worth of stocks.
Despite market capitalization stocks starting uniformly lower, they are now showing differentiation with Samsung Electronics, SK Hynix, Celltrion, LG Energy Solution, and Samsung SDI leading the gains. The KOSPI market is currently holding steady, benefiting from downward rigidity and support from domestic large-cap stocks, while the won/dollar exchange rate opened higher due to concerns over U.S. inflation.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
