KOSDAQ Starts Rising, Then Turns Downward and Widens Decline... KOSPI Also ↓

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSDAQ index is showing a downward trend due to the decline in the U.S. stock market and concerns over the U.S. Federal Reserve's interest rate hike.

As of 12:02 PM on the 14th, the KOSDAQ index stood at 872.4, down 2.17% (19.31 points) from the previous trading day. The KOSDAQ index opened at 893.18, up 0.16% (1.47 points) from the previous trading day.

Domestic stock markets were influenced by the U.S. stock market closing lower that day. On the 11th (local time), the Dow Jones Industrial Average closed at 32,944.19, down 229.88 points (0.69%) from the previous day. The S&P 500 index fell 55.21 points (1.30%) to 4,204.31, and the tech-heavy Nasdaq index dropped 286.15 points (2.18%) to 12,843.81. Additionally, the fact that a 0.25 percentage point interest rate hike at this week's Federal Open Market Committee (FOMC) meeting has become a foregone conclusion is also analyzed as a factor driving the decline.

At the same time, investor trends show foreigners and institutions sold 288.9 billion KRW and 85 billion KRW respectively, while individuals bought 385.9 billion KRW.

By index sector at the same time, KOSDAQ 150 Materials (-5.4%), Paper & Wood (-5.28%), KOSDAQ 150 Leverage (-4.91%), IT Components (-4.6%), General Electric & Electronics (-4.16%), Chemicals (-4.15%), KOSDAQ 150 Consumer Staples (-4.05%), and KOSDAQ 150 Information Technology (-3.88%) declined in that order.

As of 12:04 PM, most of the top market capitalization stocks showed a downward trend. However, Celltrion Healthcare and Celltrion Pharm, which resolved uncertainties related to accounting fraud for the first time in four years, are rising. Earlier, the Financial Services Commission's Securities and Futures Commission held an extraordinary meeting on the 11th and took measures such as fines, auditor designation, internal control improvement recommendations, and corrective demands regarding accounting standard violations by three Celltrion companies. Celltrion Healthcare (7.66%), EcoPro BM (-6.79%), Pearl Abyss (-0.1%), L&F (-8.98%), Kakao Games (-2.94%), Celltrion Pharm (7.59%), Wemade (-5.5%), HLB (-3.65%), and Lino Industrial (-3.42%) were recorded. Studio Dragon (0.11%) showed an upward trend.

As of 12:02 PM, the KOSPI was trading at 2,638.27, down 0.86% (23.01 points) from the previous trading day.

Investor trends show individuals net bought 442.9 billion KRW, while foreigners and institutions net sold 407.5 billion KRW and 35.9 billion KRW respectively.

By sector, Textile & Apparel (-5.3%), Non-metallic Minerals (-2.55%), Transportation Equipment (-2.19%), Chemicals (-1.74%), Food & Beverage (-1.59%), Electrical & Electronics (-1.58%), and Manufacturing (-1.33%) showed a downward trend.