Foreign Investors Net Sold 1.4561 Trillion Won as Oil Prices and Hawkish Fed Signals Pressured Sentiment on April 30
The KOSPI index closing price is displayed in the Shinhan Bank dealing room in Jung-gu, Seoul, on April 30. (Photo provided by Shinhan Bank)
On April 30, the KOSPI index closed at 6598.87, down 1.38% (92.03). It had risen for three consecutive trading days since on April 27 to hit a record high, but turned downward due to net selling by foreigners.
In the benchmark KOSPI market, foreigners net sold 1.4561 trillion won ($1.12 billion). Individuals and institutions were net buyers, purchasing 1.1875 trillion won ($913.46 million) and 283.8 billion won ($218.31 million), respectively.
Among the top 10 stocks by market capitalization, only SK Square (1.33%) rose. Samsung Electronics fell 2.43% to 220,500 won ($169.62), SK Hynix dropped 0.54% to 1,286,000 won ($989.23), and Samsung Electronics preferred shares declined 3.18% to 158,300 won ($121.77).
Hyundai Motor was at -4.5%, LG Energy Solution at -2.64%, Doosan Enerbility at -1.63%, Hanwha Aerospace at -0.21%, HD Hyundai Heavy Industries at -0.72%, and Samsung Biologics at -0.2%.
The KOSDAQ closed at 1192.35, experiencing a sharp fall of 2.29% (27.91). Individuals net bought 553.4 billion won ($425.69 million), while foreigners and institutions net sold 211 billion won ($162.31 million) and 304.8 billion won ($234.46 million), respectively.
Among the top stocks, only the semiconductor stock Leeno Industrial showed strength at 6.42%. Rainbow Robotics remained flat (0%). Secondary battery stocks Ecopro and Ecopro BM were at -4.38% and -3.06%, while pharmaceutical and biotech stocks Alteogen was at -3.03%, Samchundang Pharm at -6.21%, Kolon TissueGene at -5.03%, HLB at -3.49%, ABL Bio at -5.07%, and LigaChem Biosciences at -5.71%.
Lee Kyoung-min, a researcher at Daishin Securities, analyzed, “The market showed a bearish trend as it digested the inflation burden caused by high oil prices and a hawkish (monetary tightening) FOMC (Federal Open Market Committee).”
During the FOMC meeting overnight, there was apparent caution regarding inflation pressure caused by geopolitical uncertainty in the Middle East. Federal Reserve officials Beth Hammack, Neel Kashkari, and Lorie Logan opposed the inclusion of easing-bias phrasing in the statement. The market interpreted this as hawkish, placing pressure on investment sentiment.
International oil prices continued their upward trend. West Texas Intermediate (WTI) crude futures are at the $109 level, and concerns over the prolonged U.S. blockade measures against Iran are acting as upward pressure on oil prices.
Yoon Young-sil
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