KOSDAQ touches 1060 level early in trading... falls back to 1056 level
[Asia Economy Reporter Gong Byung-sun] As major conglomerates prepare to announce their earnings, the KOSPI, which started higher, showed a slight decline. The KOSDAQ surpassed the 1060 mark early in the session but later slipped to the 1056 range.
As of 10:44 a.m. on the 26th, the KOSPI stood at 3242.69, down 0.36% (11.73 points) from the previous trading day. The KOSPI started the day higher but turned downward around 9:13 a.m.
Investors appear to be taking a wait-and-see approach ahead of major companies' earnings announcements. SK Hynix will report on the 27th, LG Display and Samsung Electro-Mechanics on the 28th, and Samsung Electronics, LG Electronics, and LG Innotek on the 29th. Seo Sang-young, a researcher at Mirae Asset Securities, explained, "Since major companies' earnings announcements are concentrated in the middle to late part of this week, the market is expected to remain cautious. However, with the U.S. Dow Jones Industrial Average (Dow Index) surpassing the 35,000 mark and continuing its upward trend, investor sentiment is improving." According to the New York Stock Exchange on the 23rd (local time), the Dow closed at 35,061.55, up 0.68% (238.20 points) from the previous day.
Foreign and institutional investors are selling heavily. On this day, foreigners and institutions sold a net amount of 115.4 billion KRW and 69.7 billion KRW, respectively. Individual investors bought a net amount of 185.3 billion KRW.
Almost all sectors declined. The machinery sector saw the largest drop at 1.36%. This was followed by transportation equipment (-0.91%), construction (-0.81%), telecommunications (-0.67%), and chemicals (-0.61%). Meanwhile, medical precision (2.69%), pharmaceuticals (0.71%), steel and metals (0.63%), and textiles and apparel (0.38%) rose.
Many of the top 10 market capitalization stocks showed weakness. Kakao experienced the largest decline at 1.34%, followed by LG Chem (-1.09%), Kia (-0.81%), Samsung SDI (-0.80%), Hyundai Motor (-0.67%), Samsung Electronics (-0.25%), and Celltrion (-0.19%). On the other hand, Samsung Biologics (2.24%), NAVER (0.77%), and SK Hynix (0.42%) rose.
At the same time, the KOSDAQ was up 0.12% (1.30 points) from the previous day, standing at 1056.80. It reached a new high of 1060.21 at 9 a.m. that day.
Individual buying led to the index's rise. Individuals bought a net amount of 107.6 billion KRW, while foreigners and institutions sold net amounts of 81.5 billion KRW and 16.3 billion KRW, respectively.
Most sectors rose. The internet sector saw the largest gain at 2.24%, followed by publishing and media replication (1.82%), general electric and electronics (1.44%), textiles and apparel (1.19%), and software (1.18%). Information devices (-1.10%), computer services (-0.99%), other services (-0.83%), construction (-0.80%), and telecommunications services (-0.67%) declined.
The top 10 market capitalization stocks showed mixed results. SK Materials had the largest drop at 2.16%, followed by Alteogen (-1.74%), Seegene (-1.05%), Celltrion Pharm (-0.88%), and Celltrion Healthcare (-0.52%). EcoPro BM (4.48%), CJ ENM (2.31%), Pearl Abyss (1.64%), HLB (1.01%), and Kakao Games (0.10%) rose.
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