KOSPI and KOSDAQ Start Higher... Secondary Battery Stocks Decline

KOSPI, LG Energy Solution·Samsung SDI ↓
KOSDAQ, L&F·EcoPro BM ↓
Won-Dollar Exchange Rate Falls...

On the 13th, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSPI index started at 2,550.21, down 45.66 points (1.76%). The won-dollar exchange rate began at 1,280.0 won, up 11.1 won. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Yoon-joo] The KOSPI and KOSDAQ started higher on the 1st. While most of the top market capitalization stocks rose, secondary battery-related stocks such as LG Energy Solution, Samsung SDI, L&F, and EcoPro BM were on a downward trend.

As of 9:24 a.m., the KOSPI was trading at 2,338.83, up 0.27% (6.19 points) from the previous day. The KOSPI opened at 2,342.92, up 0.44% (10.28 points) on the day.

Institutions and individuals are driving the index by net buying 116.8 billion KRW and 32.3 billion KRW, respectively. Foreigners are net selling 148 billion KRW. However, foreigners are buying 88.7 billion KRW in the futures market.

On the day, the won-dollar exchange rate started at 1,290.0 won, down 8.4 won, and fell to 1,288.8 won during the session. The exchange rate hitting the 1,280 won level is the first time in four trading days since the 27th of last month. Foreigners appear to be expanding their buying in the futures market.

Among the top 10 market capitalization stocks, only secondary battery stocks Samsung SDI (-3.20%) and LG Energy Solution (-2.96%) are declining. Samsung Biologics and Naver were rising immediately after the opening but changed to flat. The rest are all slightly up.

By sector, telecommunications (+2.01%), insurance (+1.78%), securities (+1.76%), construction (+1.37%), steel and metals (+1.48%), and finance (+1.30%) showed the highest gains.

As of 9:39 a.m., the KOSDAQ was at 746.93, up 0.20% (1.49 points) from the previous day. The KOSDAQ opened at 748.20, up 0.37% (2.76 points) on the day.

In the KOSDAQ market, foreigners and institutions are selling 39.1 billion KRW and 9.6 billion KRW, respectively. Individuals alone are buying 76.3 billion KRW.

Among the top 10 market capitalization stocks, secondary battery-related stocks are also weak. L&F (-5.38%) has the highest decline rate, followed by EcoPro BM (-3.61%), Alteogen (-2.62%), and Pearl Abyss (-0.59%). The rest are all rising.

By sector, computer services (+1.96%), information devices (+1.54%), broadcasting services (+1.39%), transportation (+1.25%), and non-metallic minerals (+1.26%) are rising.