Early Gains Reverse as Institutions Sell KRW 1.2116 Trillion
KOSPI climbed to 7,216.62 intraday before closing at 6,869.83, while KOSDAQ fell 3.52%. The reversal came with net institutional selling and broad declines.
Institutions sold a net KRW 1.2116 trillion across KOSPI and KOSDAQ. Retail and foreign investors were net buyers in both markets, but neither index held its opening advance through the afternoon.
Early highs faded into losses
| Market | Close | Change |
|---|---|---|
| KOSPI | 6,869.83 | -1.55% |
| KOSDAQ | 834.20 | -3.52% |
KOSPI opened at 7,127.77 and climbed to an intraday high of 7,216.62 before closing at 6,869.83. The gap between the high and the close was 346.79 points, or 4.81%. KOSDAQ reached 872.59 before ending at 834.20, 4.40% below its high.
The USD/KRW reference rate discussed in the morning briefing was 1,415.20, little changed from 1,414.90 in the previous session. With the exchange rate nearly steady, investor flows and the number of declining stocks give a clearer view of the intraday reversal.
Institutional selling coincided with broader declines
Unit: KRW billion
| Market | Investor | Net flow |
|---|---|---|
| KOSPI | Retail | +741.5 |
| KOSPI | Foreign | +91.4 |
| KOSPI | Institutions | -795.1 |
| KOSDAQ | Retail | +389.2 |
| KOSDAQ | Foreign | +36.6 |
| KOSDAQ | Institutions | -416.5 |
Institutions were net sellers in both markets. Retail investors bought a net KRW 1.1307 trillion across the two markets, while foreign investors bought a net KRW 128.0 billion. Institutional selling was the largest of the three flows at KRW 1.2116 trillion, and both indexes reversed lower after their early highs.
In KOSPI, 682 stocks declined and 195 advanced. KOSDAQ recorded 1,288 decliners and 372 advancers, leaving more than three declining stocks for every advancing stock. KOSDAQ fell 1.97 percentage points more than KOSPI as declines spread across a wider group of stocks.
Next-session checkpoints
- Whether institutions remain net sellers in both markets
- Whether the number of KOSDAQ advancers rises and the gap between the two indexes' losses narrows
- Whether a larger move in USD/KRW changes the direction of foreign investor flows
Sources
- Naver Pay Securities KOSPI, 새 창에서 열림 — August 18, 2026 close, intraday range, investor flows and advance-decline counts
- Naver Pay Securities KOSDAQ, 새 창에서 열림 — August 18, 2026 close, intraday range, investor flows and advance-decline counts
- Bank of Korea Economic Statistics System, 새 창에서 열림 — August 18, 2026 USD/KRW reference rate
- TodayNote August 18 Morning Briefing — intraday observation conditions
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