KOSPI and KOSDAQ Close Lower
Korea Zinc Ends at 688,000 Won, Down 3.23%
On the 30th, the KOSPI opened higher but fell below the 2600 level again after two trading days due to combined selling pressure from foreigners and institutions. This is interpreted as a result of increased caution ahead of Federal Reserve Chairman Jerome Powell's remarks, following a pause in the AI semiconductor sector in the U.S. stock market on the 27th (local time). Major semiconductor stocks such as Samsung Electronics and SK Hynix also plunged sharply. In particular, Samsung Electronics dropped more than 4%, hitting a new intraday low.
The KOSPI closed at 2593.27, down 2.13% (56.51 points) from the previous trading day. The index started the day at 2665.24, up 0.58% (15.46 points) from the previous close, but soon turned downward.
Foreign investors expanded their selling in the late session, pushing the index down. Foreigners and institutions sold a net 1.0034 trillion KRW and 215.4 billion KRW, respectively. Only individual investors bought a net 1.1918 trillion KRW. In the futures market, foreigners and institutions sold 172.6 billion KRW and 47 billion KRW, respectively, while individuals purchased 205.6 billion KRW.
Among the top 10 stocks by market capitalization, all closed lower except Celltrion, which rose 0.31%. SK Hynix fell 5.01%, Kia 4.68%, Samsung Electronics 4.21%, and KB Financial 3.46%. Samsung Electronics hit a 52-week low. Korea Zinc, which is undergoing a management dispute, closed at 688,000 KRW, down 3.23% (23,000 KRW) from the previous day.
The KOSDAQ ended at 763.88, down 1.37% (10.61 points) from the previous trading day. It opened at 777.06, up 0.33% (2.57 points) from the previous close, but quickly reversed into a decline. Foreigners and institutions sold a net 49.4 billion KRW and 25.7 billion KRW, respectively, while individuals bought a net 79.3 billion KRW.
Among the top 10 KOSDAQ stocks by market capitalization, only Rigacombio (+0.92%) and Samchundang Pharmaceutical (+2.20%) closed higher. Enchem fell 10.66%, Lino Industrial 5.03%, Classys 3.39%, and EcoPro 3.28%.
Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate closed at 1307.8 KRW, down 10.8 KRW from the previous day as of 3:30 p.m.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
