KOSPI Narrows Losses as KOSDAQ Rebounds

The KOSPI, which had dropped below the 2,500 mark amid concerns over a slowdown in the US economy, is now recovering its earlier losses. The KOSDAQ, which had also declined, has turned upward.

As of 12:57 p.m. on September 9, the KOSPI was down 19.86 points (0.78%) from the previous trading day, standing at 2,524.42.

On this day, the KOSPI opened at 2,498.67, down 1.79% from the previous session, and at one point fell more than 2% during trading, dropping below the 2,500 level. However, as institutional investors shifted from net selling to net buying, the index recovered much of its losses.

By investor type, foreign investors were net sellers of 422.5 billion won. In contrast, individual investors and institutions were net buyers of 381 billion won and 29.1 billion won, respectively.

By sector, insurance was down 2.63%, and electrical and electronics stocks fell by more than 1%. Other sectors such as transportation and storage, manufacturing, wholesale and retail, and services were also declining. On the other hand, textiles and apparel, electricity and gas, construction, and food and beverages posted modest gains.

Among large-cap stocks, Samsung Electronics was trading at 67,300 won, down 1,600 won (2.32%) from the previous session. Shinhan Financial Group and KB Financial Group fell by 3.68% and 2.16%, respectively, while Samsung C&T, NAVER, and LG Chem were each down more than 1%. In contrast, LG Energy Solution, POSCO Holdings, and Hyundai Motor rose by more than 1%.

The KOSDAQ was up 3.50 points (0.50%) at 710.09. Like the KOSPI, the KOSDAQ started at 696.25, down 1.46% from the previous session, briefly falling below the 700 level. However, as the market turned upward, it regained the 710 mark lost the previous day.

By investor type, individuals were net sellers of 103.7 billion won, while foreign investors and institutions were net buyers of 49.5 billion won and 54.6 billion won, respectively.

By sector, paper and wood, other manufacturing, and general electrical and electronics were showing declines. In contrast, textiles and apparel and pharmaceuticals were up more than 1%, while chemicals, machinery and equipment, and medical precision instruments were also posting modest gains.

Among major KOSDAQ stocks, Alteogen was trading at 300,500 won, down 500 won (0.17%) from the previous session. EcoPro BM and EcoPro were both down more than 2%. On the other hand, Silicon Two was up 6.35%, while HLB and LIG ChemBio rose by 4.92% and 3.73%, respectively. Classys and Samchundang Pharm were each up more than 1%.