KOSPI Fluctuates Around 2830 Amid Sharp Decline in US Stock Market... "Heightened Caution Inevitable for the Time Being"

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 21st, the domestic stock market continued to show a weak trend alongside the decline in the U.S. New York stock market, which fell sharply due to concerns over early tightening. Market experts predict that at least until the end of this month, the market sentiment will be dominated by caution, making it difficult to see a significant rebound.

As of 10:58 a.m. on the day, the KOSPI stood at 2,833.45, down 1.02% (29.23 points) from the previous trading day. The KOSPI opened at 2,837.49, down 0.88% (25.19 points) from the previous day.

By investor type, foreigners and institutions sold a net amount of 243 billion KRW and 391.1 billion KRW respectively. Individuals bought a net amount of 630 billion KRW, defending the index.

Among the top 10 market capitalization stocks, the performance was mixed. Samsung Electronics (-1.44%), SK Hynix (-4.00%), LG Chem (-1.01%), and Samsung SDI (-1.31%) were on the decline. On the other hand, Samsung Biologics (0.49%) and KB Financial Group (0.50%) rose.

At the same time, the KOSDAQ stood at 948.81, down 1.03% (9.89 points) from the previous trading day. The KOSDAQ started the session at 950.67, down 0.84% (8.03 points), and widened its losses.

By investor type, individuals bought a net amount of 229.9 billion KRW. Foreigners and institutions sold stocks worth 170.1 billion KRW and 60.4 billion KRW respectively.

Among the top 10 market capitalization stocks, Ecopro BM (-2.40%), L&F (-2.38%), and Chunbo (-2.96%) declined. Meanwhile, Celltrion Healthcare (0.30%), Pearl Abyss (3.64%), Kakao Games (1.12%), and Wemade (1.16%) rose.

For the time being, the domestic stock market is expected to continue experiencing a spread of cautious sentiment, making it difficult for a meaningful rebound to emerge. Lee Jae-sun, a researcher at Hana Financial Investment, said, "Next week, the domestic stock market is expected to remain dominated by cautious sentiment. Negative events related to supply and demand are tangled like a knot, and major events such as the Federal Open Market Committee (FOMC) meeting on the 26th and the LG Energy Solution IPO on the 27th are likely to form a turning point in market volatility at the end of the month."