KOSPI Turns Down Intraday... Blue Light as Individuals 'Sell'

Early surge to 2738 then reversal down 'Blue Light'
'Line Incident' NAVER down over 2%
JYP hits 52-week low, Entertainment Stocks Weakening Together

The KOSPI index reversed to a decline during the session.

As of 10:47 a.m. on the 13th, KOSPI was trading at 2,722.02, down 5.61 points (0.21%) from the previous close. KOSPI opened at 2,735.20, up 7.54 points (0.28%) from the previous trading day, reached an intraday high of 2,738.38 early in the session, then fell. It also broke below the previous closing price of 2,727.63, turning negative.

By investor type, foreigners bought 32.6 billion KRW and institutions bought 99.9 billion KRW. In contrast, individuals sold 116.6 billion KRW.

By sector, Food & Beverages (2.18%), Finance (1.73%), Insurance (1.44%), and Transportation Equipment (1.15%) showed gains exceeding 1%. Meanwhile, Chemicals (-1.08%), Electrical & Electronics (-0.97%), and Medical Precision (-0.64%) were weak.

355 stocks were rising, 508 stocks were falling, and 67 stocks were unchanged. Among the top 10 stocks by market capitalization, only SK Hynix (1.67%), Hyundai Motor (1.04%), and KB Financial Group (4.54%) were rising. Samsung Electronics fell by -1.89%, Celltrion by -1.61%, and NAVER by -2.28%.

Last week, the U.S. stock market closed mixed. Factors included weak U.S. consumer sentiment, rising inflation expectations, and hawkish remarks (preference for monetary tightening) from Federal Reserve (Fed) officials. The semiconductor sector in Korea was expected to benefit from an 'earnings surprise' as TSMC's April sales rose 60% year-on-year (up 4.5%). However, the impact appears limited so far.

The KOSDAQ index was trading at 854.33, down 9.83 points (1.14%) from the previous day.

By investor type, unlike KOSPI, individuals were net buyers with 155.5 billion KRW. Foreigners and institutions were net sellers with 109.8 billion KRW and 40 billion KRW, respectively.

423 stocks were rising, 1,138 stocks were falling, and 74 stocks were unchanged. Among the top market cap stocks, only Enchem (3.02%) and Pearl Abyss (4.42%) showed positive trends. Alteogen (-6.17%), Samchundang Pharm (-3.77%), Soulbrain (-4.37%), and Dongjin Semichem (-4.82%) showed declines exceeding 3%. JYP Ent. dropped 12.41%, hitting a new 52-week low of 62,600 KRW. Other entertainment stocks such as SM (-5.41%), YG Entertainment (-3.55%), Cube Entertainment (-3.84%), and CJ ENM (-3.84%) also showed weakness together.