KOSPI Starts Downward, Then Turns Up... Semiconductor Stocks Weak

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 3rd, the domestic stock market showed a slight upward trend in the early session. After opening slightly lower, it has been fluctuating around the flat line.

As of 9:25 a.m., the KOSPI was at 3046.45, up 0.08% (2.58 points) from the previous day. The KOSPI opened at 3041.20, down 2.67 points (0.09%) from the previous trading day, but turned to an early session rise.

Individuals and foreigners sold a net 4.9 billion KRW and 91.1 billion KRW, respectively. Institutions were the only buyers with a net purchase of 92.9 billion KRW.

Among the top 10 stocks by market capitalization, performance was mixed. Large domestic semiconductor stocks such as Samsung Electronics (-0.36%) and SK Hynix (-0.69%) showed weakness. This is interpreted as being influenced by the Philadelphia Semiconductor Index falling 3.10% in the U.S. stock market overnight. LG Chem recorded the largest decline at -2.02%. On the other hand, NAVER (0.79%), Hyundai Motor (0.42%), Samsung SDI (0.15%), and Celltrion (2.40%) rose.

The KOSDAQ showed a similar trend. At the same time, the KOSDAQ was at 926.65, up 0.38% (3.48 points) from the previous day. The index started at 922.52, down 0.65 points (0.07%), but successfully rebounded.

On the KOSDAQ, individuals are net buyers of 10.5 billion KRW, while foreigners and institutions are net sellers of 2.4 billion KRW and 5.4 billion KRW, respectively.

Among the top 10 stocks by market capitalization, most stocks were on the rise. Alteogen had the largest gain at 2.89%. Celltrion Healthcare (2.72%), Celltrion Pharm (1.88%), Seegene (0.86%), and EcoPro BM (0.49%) also rose. HLB (-1.39%) and Kakao Games (-0.57%) declined.

Market experts forecast that the stock market will continue to experience a sector rotation phase for the time being. Kiwoom Securities researcher Seo Sangyoung said, "With increased volatility in the financial markets and no leading sector, sector rotation is expected to continue rapidly."