Both the KOSPI and KOSDAQ markets started lower as foreign investors continued net selling in the early session.
On the 12th, the KOSPI opened at 2534.71, down 0.17% from the previous trading day. The KOSDAQ also began trading at 748.65, down 0.13%.
Foreigners' net selling persisted in the early session. As of 9:25 a.m., while individuals and institutions were net buyers of 92.8 billion KRW and 47.9 billion KRW respectively on the KOSPI, foreigners sold a net 147.1 billion KRW, pulling the market down.
On the 10th, as the KOSPI started the session on a downward trend amid concerns over a US-triggered 'tariff war,' stock indices and exchange rates were displayed on the status board in the Hana Bank dealing room in Jung-gu, Seoul. 2025.02.10 Photo by Yoon Dong-joo
Most of the top market capitalization stocks showed red lights. Semiconductor leaders Samsung Electronics and SK Hynix fell 1.62% and 0.95%, respectively. Samsung Biologics (-1.96%), Celltrion (-1.00%), NAVER (-1.31%), POSCO Holdings (-1.91%), and Kakao (-1.87%) also declined.
Shipbuilding stocks such as HD Hyundai Heavy Industries (10.29%), Hanwha Ocean (4.58%), HD Hyundai Mipo Dockyard (4.06%), and Samsung Heavy Industries (2.44%) were all strong.
By sector, pharmaceuticals (-1.77%), IT services (-1.70%), electrical and electronics (-1.08%), construction (-0.79%), textiles and apparel (-0.37%), and non-metallic minerals (-0.40%) were weak, while transportation equipment parts (2.06%), securities (1.22%), medical precision instruments (1.08%), distribution (0.56%), and entertainment and culture (0.25%) were rising.
In the KOSDAQ market, foreigners and institutions led the decline with net sales of 64.3 billion KRW and 28.2 billion KRW, respectively. Individuals were net buyers by 93.9 billion KRW.
Many pharmaceutical stocks such as Alteogen (-1.85%), HLB (-0.80%), Ligand Chem Bio (-2.46%), Peptron (-3.47%), Celltrion Pharm (-1.93%), and Voronoi (-3.04%) were weak.
Secondary battery stocks including EcoPro BM (-1.49%), EcoPro (-0.50%), and Enchem (-0.65%), as well as entertainment stocks like SM Entertainment (-1.89%) and JYP Ent. (-0.48%), which had recently been on the rise, also declined.
Overnight, the New York stock market closed mixed as it digested tariff issues along with remarks from Jerome Powell, Chair of the Federal Reserve (Fed).
The Dow Jones Industrial Average rose 0.28%, the Standard & Poor's (S&P) 500 index increased 0.03%, while the Nasdaq index fell 0.36%.
Han Ji-young, a researcher at Kiwoom Securities, said, "Tesla's sharp drop amid Trump tariff noise and caution ahead of tonight's release of the U.S. January Consumer Price Index (CPI) were reflected," adding, "With profit-taking desires still present, frequent sector rotation is expected."
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