Despite an Upward Start, a Subsequent Downtrend
KOSDAQ Also Turns Downward
The KOSPI index is showing a downward trend as foreigners and institutions are recording net selling dominance.
As of 9:18 a.m. on the 27th, the KOSPI index was trading at 2408.54, down 6.42 points (0.27%) from the previous trading day. The index started the day at 2423.94, up 8.98 points (0.37%), but gave up its gains and turned negative. Individuals made net purchases worth approximately 45.5 billion KRW, while foreigners and institutions made net sales of about 18.8 billion KRW and 27.9 billion KRW, respectively.
Among the top market capitalization stocks, POSCO Holdings recorded the largest gain, rising 3.26%. It was followed by LG Energy Solution (2.99%), LG Chem (2.75%), and Samsung SDI (1.53%). On the other hand, Kia (-2.32%), Naver (NAVER) (-1.88%), Samsung Electronics (-1.27%), and Samsung Biologics (-1.00%) declined.
By sector, non-metallic minerals (2.92%), steel & metals (1.61%), chemicals (1.30%), and paper & wood (0.42%) rose. Meanwhile, service industries (-1.31%), transportation & warehousing (-1.20%), textiles & apparel (-1.19%), and pharmaceuticals (-1.12%) fell.
On the 24th (local time), the U.S. stock market initially declined due to concerns about European banks including Deutsche Bank but rebounded after analyses suggested the worries were excessive. The Dow Jones Industrial Average closed at 32,237.53, up 132.28 points (0.41%) from the previous session. The large-cap S&P 500 index ended at 3,970.99, up 22.27 points (0.56%). The tech-heavy Nasdaq index closed at 11,823.96, up 36.56 points (0.31%) from the previous trading day.
Sangyoung Seo, head of the Media Content Division at Mirae Asset Securities, explained, "Despite concerns about Deutsche Bank, the U.S. stock market turned positive due to remarks from Christine Lagarde, President of the European Central Bank (ECB), indicating that banking risks are stabilizing rather than expanding. This is expected to have a positive impact on the domestic stock market." However, credit rating agencies such as Moody's continue to mention banking risk concerns. Additionally, the possibility of a renewed focus on recession issues remains a burden.
At the same time, the KOSDAQ index also declined, recording 821.26, down 2.85 points (0.35%) from the previous trading day. Foreigners and institutions made net sales worth approximately 112.5 billion KRW and 3.2 billion KRW, respectively. Individuals were the sole net buyers with about 121.9 billion KRW.
Among the top market capitalization stocks, L&F rose more than 10%. However, most sectors declined. Pearl Abyss (-4.00%), HLB (-2.72%), Rainbow Robotics (-2.52%), EcoPro (-1.86%), and Celltrion Pharm (-1.19%) fell in that order.
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