With a lack of factors driving stock price increases and the rise of the dollar and government bond yields making it difficult for foreign capital inflows, the KOSPI index closed lower on the 21st, giving up the previous day's gains.
On that day, the KOSPI index closed at 2,724.18, down 17.96 points (0.65%) from the previous trading day. The KOSPI started at 2,733.03, down 9.11 points (0.33%), but failed to rebound. Foreigners and institutions sold stocks worth 166.2 billion KRW and 327.3 billion KRW, respectively. Individuals were the only net buyers, purchasing stocks worth 500.6 billion KRW.
Among the top market capitalization stocks, SK Hynix (1.00%) and Hyundai Motor (1.00%) rose. Most other stocks, including Samsung SDI (-2.95%), POSCO Future M (-2.95%), Samsung C&T (-2.05%), and LG Energy Solution (-2.02%), declined.
By sector, medical precision instruments (1.62%), electric and gas utilities (0.20%), and services (0.11%) rose. On the other hand, transportation and warehousing (-1.57%), steel and metals (-1.16%), chemicals (-1.07%), and distribution (-1.02%) sectors fell.
Ji-won Kim and Jeong-eun Lim, researchers at KB Securities, said, "In the absence of momentum for stock price increases, the rise in the dollar and interest rates caused pressure leading to a decline at the close. Both KOSPI and KOSDAQ saw large-cap stocks with high market capitalization generally underperform amid net foreign selling," adding, "With increased caution due to the Federal Reserve officials' cautious stance, government bond yields and the dollar rose, and a wait-and-see trend may continue until the latter part of the week."
The KOSDAQ index fell 0.57 points (0.07%) to 846.51 compared to the previous session. The index opened at 849.32, up 2.24 points (0.26%), but soon turned downward. Individuals and foreigners sold stocks worth 24.2 billion KRW and 6.9 billion KRW, respectively. Institutions were net buyers, purchasing stocks worth 41.7 billion KRW.
Among the top market capitalization stocks, Silicon투 (5.61%), Soulbrain (3.84%), Classys (3.71%), Enchem (3.25%), HLB (3.19%), and Dongjin Semichem (2.20%) rose. Meanwhile, EcoPro BM (-4.46%), EcoPro (-3.41%), JYP Ent. (-1.86%), and Rainbow Robotics (-1.48%) declined.
In the Seoul foreign exchange market that day, the won-dollar exchange rate closed at 1,363.3 won, up 7.4 won from the previous trading day.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
