Amid caution related to the domestic stock market closure continuing until the 6th ahead of the U.S. employment data, the KOSPI index closed slightly lower on the 3rd. Concerns over the electric vehicle industry also weighed on secondary battery-related stocks.
On the day, the KOSPI index closed at 2,676.63, down 7.02 points (0.26%) from the previous trading day. The index opened at 2,704.31, up 20.66 points (0.77%), but lost momentum toward the end. Foreign investors bought stocks worth 93.4 billion KRW, while individuals and institutions sold 116.4 billion KRW and 7.9 billion KRW, respectively.
Among the top market capitalization stocks, NAVER (3.07%), KB Financial Group (1.94%), Kakao (1.86%), Hana Financial Group (1.75%), Shinhan Financial Group (1.42%), and POSCO Holdings (1.13%) rose. On the other hand, Kia (-4.77%), Hyundai Motor (-3.21%), EcoPro BM (-3.00%), Samsung SDI (-1.24%), Samsung Electronics Preferred (-0.62%), Samsung Biologics (-0.52%), and Samsung Electronics (-0.51%) declined.
By sector, textiles and apparel (1.38%), services (1.02%), steel and metals (0.90%), and finance (0.45%) rose. Conversely, transportation equipment (-2.29%), construction (-1.41%), and transportation and warehousing (-0.56%) sectors fell.
The KOSDAQ index recorded 865.59, down 1.89 points (0.22%) from the previous session. The index opened at 872.27, up 4.79 points (0.55%), but also turned downward. Individuals and institutions bought stocks worth 14.5 billion KRW and 56.4 billion KRW, respectively. Foreign investors sold 36.4 billion KRW.
Among the top market capitalization stocks, Lino Industrial (5.59%), SM Entertainment (5.15%), Samchundang Pharm (3.64%), JYP Ent. (3.25%), Pearl Abyss (2.98%), and Classys (1.99%) rose. Meanwhile, HLB (-3.85%), EO Technics (-3.33%), Enchem (-3.05%), EcoPro BM (-3.00%), and EcoPro (-2.69%) declined.
Ji-won Kim and Jeong-eun Lim, researchers at KB Securities, said, "During the day, the KRW-USD exchange rate plunged more than 12 won, and the stabilization of interest rates and oil prices eased the burden. Additionally, strong earnings from Qualcomm and Apple positively influenced the KOSPI, which briefly surpassed the 2,700 mark."
They added, "However, caution ahead of the U.S. employment data and the domestic market closure led to a reversal into a decline. The poor earnings announcement from the EcoPro group the previous day and concerns over the electric vehicle industry raised during the conference call today caused secondary battery-related stocks to weaken together. The increased foreign futures selling also pressured the index."
In the Seoul foreign exchange market on the day, the KRW-USD exchange rate closed at 1,362.8 won, down 13.1 won from the previous trading day.
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