[Asia Economy Reporter Oh Ju-yeon] On the 10th, the KOSPI fell more than 1% intraday, dropping to the 2140 level. This is interpreted as a decline due to sell-offs amid the spread of the novel coronavirus (COVID-19) in the United States.
As of 2:48 PM on the same day, the KOSPI recorded 2145.35, down 1.03% from the previous trading day. It started with a slight rise from the 2170 level but then turned downward and widened the decline.
Among the top market capitalization stocks, most fell, including Samsung Electronics (-0.57%), SK Hynix (-0.72%), Samsung Biologics (-1.75%), and Celltrion (-0.93%). NAVER was the only one among the top 10 by market cap to rise, increasing by 3.30%, surpassing Samsung Biologics to jump to third place in market capitalization.
The KOSDAQ index recorded 768.46, down 0.58% from the previous trading day. While most of the top market cap stocks in the KOSDAQ market declined, Seegene alone traded at 177,300 won, up 18.52% from the previous day. Others such as Celltrion Healthcare (-1.59%), Celltrion Pharm (-0.30%), HL Biopharma (-3.86%), and Alteogen (-0.85%) also declined.
Seo Sang-young, a researcher at Kiwoom Securities, analyzed, "The domestic stock market declined due to sell-offs amid the spread of COVID-19 in the United States." Researcher Seo added, "In particular, the burden is due to the further expansion of the spread, with the number of new COVID-19 cases in the U.S. exceeding 65,000. Additionally, the Chinese stock market's weakness of more than 1% due to profit-taking sales is also a burden."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
