Concerns Over Economic Shock... KOSPI and KOSDAQ Both Decline Early in the Session

Foreign Seller Listings Released

[Asia Economy Reporter Minji Lee] As the tightening stance of the U.S. Federal Reserve (Fed) intensifies, concerns about the economic recovery are growing, leading both the KOSPI and KOSDAQ indices to show a downward trend.

At 9:17 a.m. on the 17th, the KOSPI stood at 2,903.43, down 0.63% (18.49 points) from the previous trading day. The KOSPI opened the day at 2,918.55, down 0.12% (3.37 points) from the previous day. Looking at investor trends, foreigners and institutions sold stocks worth 73.8 billion KRW and 56.5 billion KRW respectively, while individuals alone bought stocks worth 114.3 billion KRW.

Among the top market capitalization stocks, Samsung Electronics rose 0.39% from the previous day to 77,600 KRW. NAVER (0.29%) and Samsung SDI (0.46%) also showed gains, but SK Hynix (-1.17%), Samsung Biologics (-0.82%), Hyundai Motor (-1.44%), Kakao (-0.64%), and Kia (-1.07%) declined.

At the same time, the KOSDAQ index stood at 964.08, down 0.64% (6.24 points) from the previous trading day. The KOSDAQ opened at 971.81, up 0.04% (0.42 points) from the previous day, but soon turned downward. Regarding investor trends, foreigners alone sold stocks worth 65.7 billion KRW, while individuals and institutions bought stocks worth 68.1 billion KRW and 1.1 billion KRW respectively.

Among the top market capitalization stocks, Celltrion Healthcare recorded 69,700 KRW, down 1.41% from the previous day. EcoPro BM (1.45%), L&F (2.07%), Wemade (1.17%), Chunbo (0.63%), and Lino Industrial (3.64%) rose, while Pearl Abyss (-0.07%), Kakao Games (-0.99%), and HLB (-0.72%) declined.

Since the beginning of this month, as the tightening stance of major countries has intensified, global stock markets have shown sluggish performance. Concerns that the global economic recovery may slow down are believed to have dampened investment sentiment toward risk assets. Kang Daeseok, a researcher at Eugene Investment & Securities, explained, "The market is reflecting the view that the increasingly strong monetary policy stance will burden the economic recovery. Domestically, defensive sectors and value-style cyclical sectors are relatively holding up, showing a stronger defensive tendency due to concerns about economic burdens from tightening."