Impact of Sharp Stock Price Drop in Major US Tech Stocks Including Nvidia
The domestic stock market is weak on the morning of the 29th due to buying pressure from foreigners and institutions.
As of 9:26 a.m. on the day, the KOSPI index was trading at 2,657.44, down 32.39 points (1.20%) from the previous trading day. The index opened at 2,657.18, down 32.65 points (1.21%). Currently, foreigners are net selling 199.7 billion KRW and institutions are net selling 73 billion KRW. Individuals alone bought 263.3 billion KRW worth of stocks.
Among the top market capitalization stocks, LG Energy Solution (5.02%), Kia (2.10%), KB Financial Group (2.10%), Samsung SDI (2.06%), Meritz Financial Group (2.04%), LG Chem (1.44%), and Shinhan Financial Group (1.39%) are rising. On the other hand, SK Hynix (-5.13%), Samsung Electronics (-2.88%), Samsung Electronics Preferred (-2.10%), Samsung C&T (-1.20%), NAVER (-0.43%), Samsung Biologics (-0.50%), and Celltrion (-0.25%) are declining.
By sector, securities (0.66%), transportation equipment (0.44%), insurance (0.44%), finance (0.34%), steel and metals (0.23%), and pharmaceuticals (0.20%) are rising. Conversely, medical precision (-3.61%), machinery (-2.61%), electrical and electronics (-1.94%), food and beverages (-1.27%), manufacturing (-1.17%), and transportation and warehousing (-1.15%) sectors are falling.
On the 28th (local time) in the New York stock market, the blue-chip-focused Dow Jones Industrial Average closed at 41,091.42, down 159.08 points (0.39%) from the previous trading day. The large-cap S&P 500 index fell 33.62 points (0.6%) to 5,592.18, and the tech-heavy Nasdaq index dropped 198.79 points (1.12%) to 17,556.03.
Notably, Nvidia fell 2.1% during regular trading. After the market closed, Nvidia announced second-quarter sales of $30.04 billion (40.1785 trillion KRW) and earnings per share of $0.68 (909 KRW), exceeding market expectations, but its shares fell about 7% in after-hours trading, continuing the decline.
At the same time, the KOSDAQ index recorded 757.08, down 5.42 points (0.71%) from the previous session. The index opened at 756.33, down 6.17 points (0.81%). Foreigners and institutions sold 42.7 billion KRW and 3 billion KRW respectively, while individuals bought 53.2 billion KRW.
Among the top market capitalization stocks, Rigachem Bio (2.63%), HLB (1.80%), ST Pharm (0.87%), EcoPro BM (0.61%), Classys (0.39%), Pharma Research (0.52%), and Alteogen (0.31%) are rising. Meanwhile, EO Technics (-5.62%), Rino Industrial (-3.76%), Soulbrain (-3.18%), Celltrion Pharm (-2.75%), HPSP (-2.18%), and Pearl Abyss (-2.01%) are declining.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
