[Asia Economy Reporter Lee Jung-yoon] On the afternoon of the 12th, the domestic stock market continued its downward trend.
The KOSPI index stood at 2,569.18 at 1:46 PM, down 23.09 points (0.89%) from the previous day. The KOSPI had risen to as high as 2,591.57 in the morning but then fell sharply, hovering around the 2,560 level. Individual investors were net buyers worth approximately 213.9 billion KRW. Foreign investors switched from net buying in the morning to net selling, offloading about 74.3 billion KRW. Institutions also sold off about 152 billion KRW.
Most of the top market capitalization stocks were weak. LG Chem fell the most, down 4.71%, and Kakao also plunged 4.45%. Naver (NAVER) (-2.15%), Samsung SDI (-1.71%), Samsung Electronics (-0.61%), Hyundai Motor (-0.55%), SK Hynix (-0.45%), LG Energy Solution (-0.38%), and Kia (-0.23%) all showed declines. Samsung Biologics remained flat.
By sector, machinery dropped 2.92%, while banking and chemicals fell 2.43% and 2.40%, respectively. Service industry (-2.38%), construction (-1.79%), and textiles & apparel (-1.75%) also declined. Meanwhile, electric & gas utilities (1.59%), medical precision instruments (1.37%), insurance (1.26%), and transportation & warehousing (1.11%) showed gains in the 1% range.
At the same time, the KOSDAQ index widened its losses from the morning, falling 23.99 points (2.77%) to 842.35 compared to the previous day. Individual investors were net buyers worth about 313.1 billion KRW, while foreign and institutional investors were net sellers of approximately 136.9 billion KRW and 172.1 billion KRW, respectively.
Among the top market capitalization stocks, HLB was the only one to rise, gaining 9.35%. Cheonbo fell 7.07%, and Celltrion Pharm dropped 5.09%. Celltrion Healthcare and L&F also declined 4.93%. Additionally, CJ ENM, which was ranked 10th by market capitalization, fell 10.77%, dropping to 11th place. Studio Dragon, newly ranked 10th, fell 3.06%.
Today’s domestic stock market decline is influenced by the release of the US Consumer Price Index (CPI) for April and the sharp drop in the New York stock market. The US April CPI rose 8.3% compared to the same period last year, exceeding the expected 8.1%. On the 11th (local time), the Dow Jones Industrial Average closed at 31,834.11, down 326.63 points (1.02%) from the previous session. The Standard & Poor’s (S&P) 500 index fell 65.87 points (1.65%) to 3,935.18, and the tech-heavy Nasdaq index dropped 373.43 points (3.18%) to 11,364.24.
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