KOSPI Falls Back as Foreign Investors Continue Selling, Retreats to 7,400 Level

The KOSPI fell in early trading and retreated to the 7,400 level as foreign investors continued their selling streak for the 11th consecutive trading day.
The KOSPI opened at 7,739.75 today (July 3), up 91.66 points or 1.20 percent from the previous trading session, but it pared gains and fluctuated before turning downward.
As of 9:35 a.m., the KOSPI stood at 7,418.25, down 229.84 points or 3.01 percent from the previous session.
The index, which dropped 7.89 percent to the 7,600 level yesterday due to a sharp decline in major semiconductor stocks, is continuing its downward trend today.
Currently, foreign investors are net selling 880.9 billion won in the KOSPI market, while individual and institutional investors are net buying 625.4 billion won and 211.7 billion won, respectively.
Foreigners have been on a selling streak for 11 consecutive trading days since June 19.
The domestic stock market is facing downward pressure today due to the volatility in U.S. tech stocks overnight and the continued selling by foreign investors.
Overnight, the three major U.S. stock indices showed mixed results amid continued weakness in tech stocks.
The Dow Jones Industrial Average rose 1.14 percent, while the tech-heavy Nasdaq index fell 0.80 percent.
The S&P 500 index remained flat.
As Nvidia (-1.39 percent) and Micron Technology (-5.49 percent) declined, the Philadelphia Semiconductor Index plunged 5.45 percent.
This marks the second consecutive day of decline following a drop of over 6 percent the previous day.
In the Seoul foreign exchange market, the won-dollar exchange rate was 1,544.5 won, down 11.3 won from the previous day.
(Photo: Yonhap News)
※ Please note: This article was translated by AI and may contain errors.