KOSPI Declines for Two Consecutive Days Due to Individual Selling... Retreats Below '3000' Level

On the 21st, the KOSPI opened at 3,012.28, down 0.85 points (0.03%) from the previous trading day, then turned to a slight upward trend after early gains. The won-dollar exchange rate opened at 1,175.5 won, up 1.3 won from the previous trading day. The photo shows the Hana Bank dealing room in Jung-gu, Seoul on the day. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Ji-hwan Park] On the 21st, the KOSPI closed lower for the second consecutive day, falling to the '3000 level.'

The KOSPI closed at 3007.33, down 5.80 points (0.19%) from the previous trading day. The index started at 3012.28, down 0.85 points (0.03%) from the previous close, fluctuated around the flat line, and then solidified its downward trend in the afternoon.

By investor type, individual investors sold a net 159.5 billion KRW alone. Foreigners and institutions bought net 43.1 billion KRW and 127.7 billion KRW respectively, but could not prevent the index from falling.

Among the top market capitalization stocks, only NAVER (+0.74%) rose alone. Samsung Electronics (-0.14%), SK Hynix (-1.63%), Samsung Biologics (-0.80%), and others declined. In particular, a downward trend was seen centered on secondary battery stocks such as LG Chem (-4.05%) and Samsung SDI (-0.51%).

The KOSDAQ closed at 993.70, down 7.92 points (0.79%) from the previous close. Individuals bought a net 245.5 billion KRW. On the other hand, foreigners and institutions sold net 154.1 billion KRW and 67.0 billion KRW respectively.

Among the top 10 market capitalization stocks, Pearl Abyss (+12.21%), Kakao Games (+1.97%), HL Biotech (+0.31%), and Wemade (+8.69%) rose. Celltrion Healthcare (-0.91%), EcoPro BM (-8.80%), L&F (-6.30%), Celltrion Pharm (-0.90%), SK Materials (-2.21%), and CJ ENM (-1.20%) closed lower.

Seok-hwan Kim, a researcher at Mirae Asset Securities, said, "The domestic stock market fluctuated around the flat line before turning downward. The KOSDAQ fell below 1000 due to the Nasdaq's weakness and the sharp decline in secondary battery material stocks, which is judged to be profit-taking selling after Tesla's strong earnings announcement."