KOSDAQ Closes Below the 700 Mark
The KOSPI index, which had fallen below the 2600 level, dropped further to the 2550 level. Amid concentrated selling by foreigners, the declines were significant in the automobile, semiconductor, and aviation sectors. This is interpreted as an impact of tariff pressure from U.S. President Donald Trump.
On the 28th, the KOSPI index closed at 2557.98, down 49.17 points (-1.89%) from the previous trading day. Individuals and institutions defended the index decline by net buying 541.4 billion KRW and 2.9 billion KRW respectively, but foreigners led the decline with net selling of 642.3 billion KRW.
As the backlash from Trump's tariff announcement intensifies, the domestic stock market opened lower on the 28th, with the dealing room at Hana Bank's headquarters in Jung-gu, Seoul, bustling with activity. On this day, the KOSPI started at 2592.63, down 14.52 points (0.56%) from the previous trading day, and the decline is widening. 2025.3.28 Photo by Jo Yongjun
Although there was anticipation of improved foreign demand ahead of the full resumption of short selling on the 31st, selling pressure continued as President Trump's tariff pressure intensified. Earlier, President Trump signed a proclamation imposing a 25% tariff on automobiles and light trucks made overseas. The tariffs will take effect from April 2.
By sector, game entertainment rose 2.34%. In contrast, automobiles (-3.14%), semiconductors and semiconductor equipment (-2.93%), aerospace and defense (-4.09%), and air cargo transportation and logistics (-4.47%) fell sharply.
All of the top market capitalization stocks showed red. SK Hynix (-3.72%), Hyundai Motor (-3.53%), Kia (-2.66%) experienced large declines due to President Trump's tariff pressure on semiconductor and automobile-related stocks. Samsung Electronics, LG Energy Solution, and Samsung Biologics also all declined.
Hanwha Aerospace, which announced a 3.6 trillion KRW rights offering on the 20th, rose over 2% in early trading following the Financial Supervisory Service's request for a revised report the previous day, but closed down 4.98%.
The KOSDAQ closed at 693.76, down 13.73 points (1.94%) from the previous day. Individuals net bought 119.9 billion KRW, but foreigners and institutions led the decline with net selling of 116.3 billion KRW and 4 billion KRW respectively. This is the first time since January 3 that the KOSDAQ has fallen below the 700 level.
Among the top market capitalization stocks, Alteogen (0.14%), Hugel (1.06%), Classys (2.28%), and Pharma Research (1.66%) rose. In contrast, Eco BM Pro (-4.34%), EcoPro (-2.41%), and HLB (-2.39%) declined.
At 3:30 p.m. in the Seoul foreign exchange market, the USD/KRW exchange rate rose 1.2 won from the previous day to 1466.5 won.
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