The KOSPI fell nearly 2% due to simultaneous net selling by foreigners and institutions, dropping below the 2500 mark. However, the decline is being partially recovered as the institutions reduce their net selling volume.
Amid concerns over an economic recession last week causing a sharp decline in the U.S. stock market, on the 9th, the KOSPI opened at 2,496.36, down 47.92 points (1.88%) from the previous session, and the KOSDAQ index also opened down 1.56% at 695.53. Employees are working as various indices are displayed on the electronic board in the dealing room of Hana Bank's Euljiro headquarters in Seoul. Photo by Heo Younghan younghan@
As of 9:17 AM on the 9th, the KOSPI stood at 2511.89, down 32.39 points (1.27%) from the previous trading day.
On that day, the index opened at 2498.67, down 1.79% from the previous trading day. Afterwards, as foreigners and institutions intensified their net selling, the index dropped more than 2%. However, with institutions reducing their net selling, the index is recovering some of the losses.
By investor type, foreigners and institutions net sold 106 billion KRW and 12 billion KRW respectively. Meanwhile, individuals net bought 117 billion KRW.
Most sectors are declining. Electrical and electronics, medical precision, securities, food and beverages, chemicals, manufacturing, and transportation and warehousing are all down more than 1%. In contrast, pharmaceuticals and construction are slightly up.
Among the top market capitalization stocks, semiconductors are showing weakness. This appears to be influenced by Nvidia’s drop of over 4% in the U.S. stock market on the 6th of this month (local time). Samsung Electronics traded at 67,200 KRW, down 1,700 KRW (2.47%) from the previous trading day. Along with this, SK Hynix is also down 2.81%. Shinhan Financial Group and NAVER are down more than 1%. On the other hand, LG Energy Solution, Samsung Biologics, and Hyundai Motor are slightly up.
The KOSDAQ recorded 699.60, down 6.99 points (0.99%) from the previous trading day. Like the KOSPI, the KOSDAQ opened at 696.25, down 1.46% from the previous trading day, and even dropped to the 693 level, but is currently recovering some of the losses.
By investor type, individuals are net selling 65.9 billion KRW, while foreigners and institutions are net buying 56.1 billion KRW and 11.1 billion KRW respectively.
By sector, most are declining, with general electrical and electronics, other manufacturing, entertainment and culture, chemicals, transportation equipment parts, and paper and wood all down more than 1%.
Among the top market capitalization stocks, Alteogen traded at 298,000 KRW, down 3,000 KRW (1.00%) from the previous trading day. Enchem is down 3.32%, and Ecopro BM, Ecopro, and Ligno Industrial are down more than 1%. On the other hand, HLB is up 3.16%, and Silicon Two is rising 2.54%. Additionally, Classys and RIGACAM Bio are up more than 1%.
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