KOSPI Falls Amid US Inflation Concerns... "Foreigners and Institutions Selling"

The KOSPI opened slightly lower. It appears that the decline in the U.S. stock market, due to ongoing inflation concerns driven by rising international oil prices and the possibility of a prolonged interest rate hike cycle by the U.S. Federal Reserve (Fed), influenced this movement.

On the 7th, the KOSPI closed at 2,554.59, down 8.75 points (0.34%) from the previous trading day.

By investor type, foreigners and institutions sold net amounts of 13.4 billion KRW and 74.8 billion KRW, respectively. Individuals bought a net amount of 86.3 billion KRW.

The KOSPI's decline at the start of the day is interpreted as being influenced by the drop in the U.S. stock market. Inflation concerns persisted as international oil prices continued to rise.

On the 6th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 34,443.19, down 198.78 points (0.57%) from the previous trading day. The S&P 500, focused on large-cap stocks, fell 31.35 points (0.70%) to 4,465.48, and the Nasdaq, centered on tech stocks, dropped 148.48 points (1.06%) to 13,872.47.

Han Ji-young, a researcher at Kiwoom Securities, said, "The U.S. stock market declined due to the August ISM Services Purchasing Managers' Index (PMI) surprise, the possibility of inflation becoming entrenched due to sustained oil price increases, hawkish remarks from Fed officials, and weakness in tech stocks caused by the European Union (EU)'s regulations on large platform companies."

By sector, medical precision, chemicals, and textiles/apparel are slightly down. Conversely, services, machinery, and pharmaceuticals are slightly up.

Among the top market capitalization stocks, Samsung Electronics rose 100 KRW (0.14%) from the previous trading day to 71,000 KRW. NAVER also increased by 2.34%. On the other hand, Samsung SDI and POSCO Future M fell more than 1%.

The KOSDAQ closed at 917.82, down 0.13 points (0.01%) from the previous trading day.

By investor type, foreigners and institutions sold net amounts of 52.6 billion KRW and 26.7 billion KRW, respectively. Meanwhile, individuals bought a net amount of 91.6 billion KRW.

By sector, general electrical and electronics and entertainment/culture fell more than 1%. Conversely, machinery equipment, textiles/apparel, and software rose more than 1%.

Among the top market capitalization stocks, EcoPro BM traded at 295,500 KRW, down 5,500 KRW (1.83%) from the previous trading day. SM fell 3.09%. POSCO DX, L&F, and Classys also dropped more than 1%. Conversely, Rainbow Robotics surged 9.52%, and Lunit rose 4.69%. Additionally, Pearl Abyss and HPSP are up more than 1%.