Individual Investors Support KOSPI, Approaching 2600 Level... KOSDAQ's Decline Also Slows Down

[Image source=Yonhap News]

[Asia Economy Reporter Myunghwan Lee] On the afternoon of the 19th, the KOSPI partially recovered its losses in the market, rising to the 2590 level. In the Korea Composite Stock Price Index (KOSPI) market, individual investors are driving the index recovery by purchasing over 400 billion KRW. The KOSDAQ index is also narrowing its decline compared to the morning session.

As of 2 PM on the day, the KOSPI stands at 2595.04, down 30.94 points (1.18%) from the previous trading day. The KOSPI opened at 2576.24, down 49.74 points (1.89%) from the previous day, but the decline has gradually lessened in the afternoon. By investor type, foreigners and institutions sold 100 billion KRW and 334.3 billion KRW respectively, while individuals were the only net buyers with 403.3 billion KRW.

Most of the top market capitalization stocks are in a downtrend. Samsung Electronics is trading at 67,500 KRW, down 0.88% from the previous day. NAVER and Kakao have fallen significantly by 2.17% and 2.42%, respectively. Other declining stocks include ▲SK Hynix (-0.88%), ▲Samsung Electronics Preferred (-0.17%), ▲Samsung SDI (-1.66%), ▲Hyundai Motor (-1.08%), and ▲LG Chem (-1.56%). Only LG Energy Solution (1.46%) and Samsung Biologics (0.25%) are rising.

By sector, only Non-metallic Minerals (1.33%) and Electric, Gas & Water Utilities (0.25%) are rising. Textile & Apparel (-4.17%), Paper & Wood (-3.12%), and Construction (-2.36%) sectors are declining.

At the same time, the KOSDAQ index is at 866.18, down 5.39 points (0.62%) from the previous trading day. The KOSDAQ opened at 853.23, down 18.34 points (2.10%), but is gradually recovering its losses.

Among the top market capitalization stocks, L&F is notable for rising 6.69% to 264,600 KRW amid the declining market. Ecopro BM (0.06%) and Cheonbo (1.46%) are also rising. On the other hand, HLB is trading down 3.06% at 50,700 KRW. ▲Celltrion Healthcare (-2.14%), ▲Kakao Games (-0.18%), and ▲Celltrion Pharm (-2.99%) are all declining.

By KOSDAQ sector, IT-related sectors such as IT Components (2.51%) and IT Hardware (0.60%) are rising. Conversely, Transportation (-5.19%), Leisure & Culture (-2.09%), and Textile & Apparel (-2.02%) are experiencing significant declines.

Han Ji-young, a researcher at Kiwoom Securities, commented on market strategies for the day: "With intraday volatility and daily fluctuations in major global markets significantly expanded beyond usual levels, market timing strategies have become difficult. Rather than quick trading responses based on the day's market mood, a strategy of cautious observation or gradual buying of large-cap stocks that can maintain profitability amid high exchange rates and inflationary environments would be a better alternative."