The KOSPI index plunged due to the sharp rise in U.S. Treasury yields and the increase in the exchange rate.
On the 4th, the KOSPI index closed at 2405.69, down 59.38 points (2.41%) from the previous day. The trading volume was 417.16 million shares, and the trading value was tentatively estimated at 9.8767 trillion won.
On that day, the KOSPI index started weak following the sharp decline in the New York stock market the previous day due to the rise in U.S. Treasury yields. Afterwards, the won/dollar exchange rate exceeded 1360 won, the highest point since November last year, and the index was weighed down by net selling from foreigners and institutions.
By investor type, institutions and foreigners net sold 469.5 billion won and 404.5 billion won respectively, while individuals net bought 835.2 billion won. Program trading saw net selling of 54.4 billion won in arbitrage trading and 309.2 billion won in non-arbitrage trading.
Most sectors declined. The medical precision sector fell 4.63%, steel and metals -4.09%, services -3.82%, chemicals -3.42%, machinery -3.24%, transportation and warehousing -3.01%, distribution -2.98%, and electricity and gas -2.86%. In contrast, the insurance sector was the only one to close up, rising 0.82%.
Most of the top market capitalization stocks also showed a downward trend. Samsung Electronics fell 1.32%, LG Energy Solution -4.3%, POSCO Holdings -4.49%, Hyundai Motor -0.16%, LG Chem -2.11%, Samsung SDI -5.37%, NAVER -5.11%, and POSCO Future M -6.54%. On the other hand, SK Hynix rose 0.61%, and Samsung Biologics also showed strength, up 1.47%.
The KOSDAQ index also experienced a sharp decline. On that day, the KOSDAQ index closed at 807.4, down 33.62 points (4.0%) from the previous day. By investor type, institutions and foreigners net sold 52 billion won and 258 billion won respectively, while individuals net bought 317.6 billion won.
In the KOSDAQ market, the decline of secondary battery-related stocks weighed on the index. The top two by market capitalization, EcoPro BM and EcoPro, plunged 7.11% and 8.55%, respectively, while POSCO DX fell 1.29%, and L&F dropped 9.05%. In contrast, HLB closed up 0.5%.
Meanwhile, in the Seoul foreign exchange market, the won/dollar exchange rate closed at 1363.5 won, up 14.2 won from the previous day.
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