Semiconductor Stocks Rise, Kosdaq Closes Higher
The KOSPI index closed lower after five trading days as foreigners and institutions recorded net selling dominance.
On the 17th, the KOSPI index closed at 2,619.00, down 9.30 points (0.35%) from the previous trading day. The index opened at 2,617.67, down 10.63 points (0.40%), and fell as low as 2,611.55 during the session. Individuals alone net bought about 426.7 billion KRW, while foreigners and institutions net sold approximately 196.5 billion KRW and 232.2 billion KRW, respectively.
Among the top market capitalization stocks, Samsung SDI (-2.93%), Hyundai Motor (-2.40%), Kia (-2.37%), LG Chem (-1.47%), Samsung Biologics (-1.08%), LG Energy Solution (-0.74%), SK Hynix (-0.68%), and Samsung Electronics (-0.14%) showed weakness. POSCO Holdings and Naver (NAVER) rose by 6.94% and 0.98%, respectively.
By sector, electricity and gas (-1.94%), transportation equipment (-1.87%), insurance (-1.76%), and textiles and apparel (-1.27%) declined, while construction (3.60%), steel and metals (3.28%), non-metallic minerals (1.75%), and paper and wood (1.63%) rose.
Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, "While individuals maintained net buying, selling pressure centered on large-cap KOSPI stocks increased downward pressure on the index," adding, "The KOSDAQ was led by gains in semiconductor stocks."
Economic indicators released during the session from China fell short of market expectations, further weakening the index's upward momentum. The National Bureau of Statistics of China announced that the GDP growth rate for the second quarter increased by 6.3% compared to the same period last year. Although this exceeded the first quarter's growth rate of 4.5%, it fell short of the market forecast of 7.1%, leading the market to interpret that recovery in consumption, investment, and exports remains sluggish across sectors in China.
On the day, the USD/KRW exchange rate closed at 1,266.6 KRW, up 0.8 KRW from the previous day's closing price.
The KOSDAQ index closed at 898.29, up 2.01 points (0.22%) from the previous trading day. After opening at 894.75, down 1.53 points (0.17%), it reversed to rise and reached as high as 899.44. Individuals and foreigners net bought approximately 99.8 billion KRW and 44.1 billion KRW, respectively, while institutions net sold about 147.1 billion KRW.
Among the top market capitalization stocks, JYP Ent. (-2.44%), Celltrion Pharm (-2.36%), Celltrion Healthcare (-2.16%), EcoPro BM (-0.89%), and L&F (-0.88%) declined. On the other hand, Pearl Abyss (3.17%), POSCO DX (3.13%), HLB (2.72%), and EcoPro (1.11%) rose.
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