[Asia Economy Reporter Myung-hwan Lee] On the afternoon of the 16th, the KOSPI turned downward and is moving in the low 2600 range. This is attributed to the significant decline in China's April retail sales and industrial production indicators announced that day. Foreigners and institutions are heavily selling, fueling the index's decline. The KOSDAQ, which had risen more than 1% in the morning session, is also giving up some of its gains.
As of 2 p.m. on the same day, the KOSPI stood at 2601.59, down 0.10% (2.65 points) from the previous trading day. The KOSPI opened at 2624.69, up 0.79% (20.45 points) from the previous day, then gradually reduced its gains before turning downward. By trading participants, individuals are the sole net buyers with 97.5 billion KRW, while foreigners and institutions are selling 79.4 billion KRW and 50 billion KRW respectively.
Looking at the top market capitalization stocks on the Korea Exchange, Samsung Electronics is trading at 66,500 KRW, the same price as the previous day. Samsung Electronics Preferred shares are trading at 59,200 KRW, up 1.72% (1,000 KRW) from the previous day, while ▲LG Energy Solution (0.37%) ▲Samsung SDI (0.34%) ▲Kakao (1.10%) ▲LG Chem (0.20%) are rising. Conversely, ▲SK Hynix (-1.33%) ▲Samsung Biologics (-1.78%) ▲Hyundai Motor (-1.34%) are declining. Naver (NAVER) is trading at 274,500 KRW, unchanged from the previous day.
By sector, reopening-related industries such as textiles and apparel (2.156%), food and beverages (1.28%), and banks (0.93%) are rising. Meanwhile, telecommunications (-2.16%), transportation and warehousing (-1.08%), and pharmaceuticals (-1.02%) are falling.
This is interpreted as the impact on our stock market from China's April economic indicators coming in lower than market expectations. According to China's National Bureau of Statistics on the 16th, retail sales in China last month fell 11.1% compared to the same month last year. This is a larger drop than major foreign media forecasts. Retail sales of consumer goods excluding automobiles also decreased by 8.4% year-on-year. Industrial production during the same period also declined by 2.9%.
At the same time, the KOSDAQ index stood at 857.71, up 0.54% (4.63 points) from the previous trading day. The KOSDAQ opened at 862.24, up 1.07% (9.16 points) from the previous day, and at one point in the morning session rose more than 1%, but the pace of gains has somewhat slowed. By investor type, individuals bought 52.2 billion KRW, while foreigners and institutions sold 35.3 billion KRW and 15.9 billion KRW respectively.
Most of the top 10 KOSDAQ market capitalization stocks are on the rise. HLB is trading at 44,550 KRW, up 4.82% (2,050 KRW) from the previous day, along with ▲EcoPro BM (1.22%) ▲L&F (4.19%) ▲Kakao Games (0.91%) ▲Rino Industries (0.29%) ▲Cheonbo (2.68%) rising. Conversely, ▲Celltrion Healthcare (-0.55%) ▲Pearl Abyss (-1.20%) ▲Celltrion Pharm (-0.52%) ▲Studio Dragon (-1.13%) are declining.
By sector, food and tobacco (4.85%) and transportation equipment and parts (2.61%) are rising, while semiconductors (-0.59%) are falling.
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