[Asia Economy Reporter Kwon Jaehee] On the 8th, the KOSPI index, which started with a slight rise, closed at the 2370 level due to foreign selling pressure.
On this day, the KOSPI index closed at 2371.08, down 0.49% (11.73 points) from the previous trading day. This marked the fifth consecutive day of decline. The index opened at 2386.90, up 0.17% (4.09 points) from the previous day, but turned downward early in the session, widening the losses.
By investor type, foreigners sold stocks worth 475.7 billion KRW, driving the index down. In contrast, individuals and institutions bought stocks worth 205.8 billion KRW and 224.5 billion KRW respectively, providing some defense.
The market saw increased selling pressure from foreigners focusing on large-cap KOSPI stocks ahead of next week's scheduled U.S. Consumer Price Index (CPI) release and Federal Open Market Committee (FOMC) regular meeting, which expanded the decline during the session.
Among the top 10 KOSPI stocks by market capitalization, all closed lower except Samsung Electronics (0.51%) and NAVER (1.09%). Secondary battery stocks such as LG Energy Solution (-5.68%) and Samsung SDI (-2.12%) experienced significant declines. Other stocks that closed lower included Samsung Biologics (-0.48%), SK Hynix (-0.13%), LG Chem (-1.33%), Samsung Electronics Preferred (-0.75%), Hyundai Motor (-0.61%), and Kia (-0.46%).
Kim Seokhwan, a researcher at Mirae Asset Securities, analyzed, "The U.S. stock market declined due to concerns over economic slowdown, with large tech stocks like Tesla and Apple showing weakness, leading to a Nasdaq-centered decline, which also weighed on our market. Investment sentiment toward secondary batteries weakened, causing a sharp drop in large secondary battery stocks."
By sector, insurance (1.06%), telecommunications (0.59%), services (0.56%), finance (0.34%), and pharmaceuticals (0.32%) recorded gains, while paper and wood products (-3.08%), electric and gas utilities (-1.65%), non-metallic minerals (-1.58%), construction (-1.42%), and steel and metals (-1.21%) showed declines.
The KOSDAQ index closed at 712.52, down 0.78% (5.62 points) from the previous trading day. The index opened at 718.37, up 0.03% (0.23 points) from the previous day, but then turned downward.
By investor type, individuals and foreigners bought stocks worth 38.9 billion KRW and 43.0 billion KRW respectively, while institutions alone sold stocks worth 75.2 billion KRW.
Among the top 10 KOSDAQ stocks by market capitalization, only Celltrion Healthcare (0.31%) and Pearl Abyss (1.16%) closed higher. Others included EcoPro BM (-1.43%), L&F (-0.29%), HLB (-0.16%), EcoPro (-1.70%), Rino Industrial (-1.16%), Celltrion Pharm (-0.46%), and Chunbo (-0.04%). Kakao Games closed flat.
By sector, telecommunications equipment (0.94%), other manufacturing (0.39%), and chemicals (0.12%) rose, while telecommunications services (-3.71%), digital content (-2.45%), telecommunications broadcasting services (-2.35%), internet (-2.15%), textiles and apparel (-2.06%), and construction (-1.84%) declined.
On this day, the trading value on the KOSPI and KOSDAQ markets was 7.5059 trillion KRW and 5.7186 trillion KRW respectively.
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