Foreigners have been selling for 7 consecutive trading days.
They will sell until the end of June due to the quarterly national pension fund rebalancing.
Due to SpaceX's listing on Nasdaq, they have to sell by July 2nd. After 2 trading days, they can buy ETFs on July 7th at the end of the market.
There were rumors that foreign selling would stop soon, but
in the end, foreigners are still selling today.
The proportion is still high, and if my calculations are correct, they may continue to sell as early as the end of July.
Today, institutions sold until this morning, and individual investors are solely responsible for the supply and demand.
Among them, the National Pension Service continues to sell in conjunction with foreigners.
Although the National Pension Service announced that it would reduce its proportion from July, it is difficult to expect them to sell smartly. After all, they have to sell when the price is good due to performance-based incentives.
Currently, the market rose slightly in the early stages due to individual net buying,
but there is always a turning point around 10:00-10:30 am.
If individuals can't hold on, they will exit one by one, and the market will fall again.
Institutions are watching and waiting, and if we join in, they will pull it up together.
We can't really expect anything from foreigners. They are actually selling at the current price while buying call options as a hedge.
If the stock price rises, they will profit from the call option premium. If the stock price falls, they have already sold at the high point, so they have nothing to lose.
I expect a flat or slight rebound on Friday. However, looking at the supply and demand situation, there is also anxiety that today may be the bottom instead of yesterday.
I hope to hold on tight until the end of the market on Friday and start a new week with a refreshed mind.
Fight hard, everyone!
