Samsung Electronics, LG Energy Solution, etc.
Semiconductor and Secondary Battery Stocks Continue Weakness
[Asia Economy Reporter Minji Lee] The KOSPI closed lower for the second consecutive trading day as foreigners sold off semiconductor and secondary battery stocks in large volumes.
On the 5th, the KOSPI ended the session at 2,419.32, down 0.62% (15.01 points) from the previous trading day. The KOSPI started the day with a 0.32% gain, influenced by last Friday's rise in the U.S. stock market, but quickly turned downward and widened its losses. The won-dollar exchange rate fell to the 1,290 won level, influenced by the yuan strengthening on expectations of China's reopening. It closed at 1,292.6 won, down 7.3 won from the previous trading day.
The decline in the KOSPI index was driven by foreigners. Foreigners alone sold stocks worth 292.1 billion won. Institutions also net sold stocks worth 15.1 billion won. On the other hand, individuals bought stocks worth 301.7 billion won, absorbing the selling pressure.
In the KOSPI market, sectors expected to benefit from China's 'zero-COVID' policy, such as textiles and apparel (4.38%) and transportation and warehousing (1.81%), showed gains. By stock, F&F rose 6.9%, Hojun Silup 3.6%, and Hanse Silup 1.8%. With renewed expectations for Chinese travel, Jeju Air (10.6%), T'way Air (4.4%), and Asiana Airlines (4%) also rose. Conversely, non-metallic minerals (-2.6%) and electrical and electronics (-1.2%), which include semiconductor and secondary battery companies, declined.
Lee Kyung-min, a researcher at Daishin Securities, said, "Although the strength of Chinese consumer stocks was clearly evident, it did not have a significant impact on the overall market movement. Foreign investors expanded their net selling of spot stocks centered on semiconductors, causing the KOSPI to widen its losses."
Looking at the top market capitalization stocks, Samsung Electronics (-0.17%) closed lower at 60,300 won. Other stocks that declined included LG Energy Solution (-3.77%), Samsung Biologics (-4.25%), SK Hynix (-1.10%), LG Chem (-2.11%), Samsung SDI (-2.92%), Hyundai Motor (-2.07%), and Kia (-1.3%). NAVER (3.23%) and Kakao (1.93%) rose.
The KOSDAQ index closed at 733.32, up 0.05% (0.37 points) from the previous trading day. It showed a 0.48% gain early in the session but turned negative during the day due to selling pressure from foreigners and institutions.
Regarding investor trends, individuals alone bought stocks worth 64.7 billion won, while foreigners and institutions sold stocks worth 52.4 billion won and 600 million won, respectively.
Among the top market capitalization stocks, secondary battery material stocks such as EcoPro BM (-2.91%), L&F (-6.2%), EcoPro (-4.33%), and Chunbo (-2.09%) widened their losses. Stocks that closed higher included Kakao Games (2.61%), Pearl Abyss (2.35%), Rino Industrial (0.75%), and Celltrion Pharm (1.68%).
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