KOSPI and KOSDAQ Both Fall, Dragged Down by Large-Cap Stocks Like Semiconductors and Secondary Batteries

On April 30, both the KOSPI and KOSDAQ indices closed lower. This was due to heightened caution in the market ahead of the holiday closure on May 1.

On this day, the KOSPI index closed at 2,556.61, down 0.34% from the previous trading session. Foreign investors and institutions were net sellers, offloading 169.8 billion won and 223.5 billion won worth of shares respectively, while individual investors were net buyers, purchasing 307.1 billion won worth of shares.

Dealers are working in the dealing room at the Seoul Hana Bank headquarters on the 30th, where the KOSPI index closed at 2,556.61, down 8.81 points (0.34%) from the previous session. Photo by Yonhap News

By industry, the declines were most pronounced in electrical and electronics (-2.05%), chemicals (-1.69%), and manufacturing (-1.42%). In contrast, securities (4.21%), entertainment and culture (2.97%), and insurance (1.18%) saw notable gains.

Most of the top market cap stocks ended in negative territory. Samsung Electronics (-0.54%), SK Hynix (-1.83%), LG Energy Solution (-7.29%), Samsung Biologics (-0.09%), Hyundai Motor (-1.14%), Hanwha Aerospace (-1.48%), and Celltrion (-1.65%) all closed lower.

The market appeared to be cautious ahead of the holiday closure. Major events are scheduled during the break, including the release of the U.S. Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI), as well as earnings announcements from Microsoft and Meta. About one-third of S&P 500-listed companies are also set to report earnings this week alone.

Lee Jaewon, a researcher at Shinhan Investment Corp., explained, "The KOSPI index closed lower today, mainly due to declines in large-cap stocks such as semiconductors and secondary batteries." He added, "With major events such as big tech earnings announcements and the domestic market holiday approaching, the market showed a wait-and-see attitude and lacked clear direction."

On this day, the KOSDAQ index closed at 717.24, down 1.27% from the previous trading session. In the KOSDAQ market, foreign investors and institutions were net sellers, offloading 71.6 billion won and 128.2 billion won worth of shares respectively, while individual investors were net buyers, purchasing 206.5 billion won worth of shares.

Among the top KOSDAQ stocks, Alteogen (-3.31%), EcoPro BM (-0.88%), EcoPro (-0.20%), Rainbow Robotics (-3.74%), and Hugel (-1.22%) declined, while HLB (1.79%) and Classys (0.31%) closed higher.

In the Seoul foreign exchange market, the won-dollar exchange rate was trading at 1,421.00 won as of 3:30 p.m., down 13 won (-0.91%) from the previous trading session.