[Featured Stocks] Naver and Kakao Embarrassed by 'Cooling Growth Stock Sentiment'... 52-Week Lows

[Asia Economy Reporter Lee Seon-ae] Naver and Kakao, considered representative growth stocks in Korea, are both experiencing a decline. This is interpreted as a direct impact of the freezing of growth stock investment sentiment following the sharp drop in the US Nasdaq.

In the early trading session on the 19th, Naver and Kakao both hit new 52-week lows. As of 9:41 AM, Naver (NAVER) was trading at 269,000 KRW, down 2.71%. It fell to 270,000 KRW in the early session, marking a new 52-week low. Kakao was down 2.66%, trading at 80,400 KRW. Kakao also hit a new 52-week low by dropping to 80,000 KRW in the early session.

The previous day, the Nasdaq index, centered on US tech stocks, plunged 4.73%, leading to the decline in these two stocks. Recently, with the tightening stance and rising interest rates, growth stock investment sentiment has weakened, causing the stock prices to show a sluggish trend day after day.