KOSPI and KOSDAQ Open Lower
Samsung Electronics Down 1.07%
On July 29, the Korean stock market opened lower due to selling pressure from foreign investors and institutions. Market participants are increasingly taking a wait-and-see approach ahead of tariff negotiations between South Korea and the United States.
As of 9:41 a.m. on this day, the KOSPI index was trading at 3,194.53, down 14.99 points (0.47%) from the previous day. The index started at 3,192.17, a decrease of 17.35 points (0.54%), and fell to the 3,170 level before paring some of its losses. Foreign investors have sold 69.9 billion KRW worth of shares, while institutions have sold 163.9 billion KRW. Individual investors are net buyers, purchasing 216 billion KRW worth of shares on their own.
The KOSPI index and the won/dollar exchange rate are displayed on the monitors in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Jo Yongjun
By sector, distribution (0.74%), transportation equipment and parts (0.54%), and real estate (0.31%) rose. In contrast, most sectors are declining, including transportation and storage (-1.61%), telecommunications (-1.36%), metals (-1.31%), chemicals (-1.17%), electricity and gas (-1.05%), medical precision instruments (-1.04%), construction (-1.04%), electrical and electronics (-0.74%), and entertainment and culture (-0.72%).
Among the top market cap stocks, Hanwha Aerospace (3.04%), Samsung C&T (2.63%), LG Energy Solution (1.97%), Shinhan Financial Group (1.49%), Hanwha Ocean (1.23%), Samsung Biologics (1.22%), and KB Financial Group (1.09%) rose. On the other hand, POSCO Holdings (-2.94%), SK Hynix (-1.43%), Celltrion (-1.13%), Samsung Electronics (-1.07%), Hyundai Mobis (-1.00%), and Hyundai Motor (-0.92%) declined.
At the same time, the KOSDAQ index was at 799.28, down 5.12 points (0.64%) from the previous day. The index opened at 803.38, down 1.02 points (0.13%), and extended its losses. Foreign investors and institutions are net sellers, offloading 80.3 billion KRW and 22.6 billion KRW worth of shares, respectively. Individual investors have bought 107.1 billion KRW worth of shares.
Among the top market cap stocks on the KOSDAQ, Peptron (3.20%), Samchundang Pharm (3.63%), Caregen (1.56%), Rainbow Robotics (1.12%), Classys (1.05%), and Silicon Two (0.62%) rose. In contrast, Ecopro BM (-3.49%), ABL Bio (-3.08%), EO Technics (-2.79%), Ecopro (-2.50%), Lino Industrial (-2.11%), Rigakem Bio (-1.79%), HLB (-1.41%), Kolon TissueGene (-1.40%), Alteogen (-1.04%), SM (-0.66%), and JYP Ent. (-0.58%) declined.
Meanwhile, as the United States has reached consecutive tariff agreements with Japan and the European Union (EU), concerns over a tariff war have somewhat eased. However, on July 28 (local time), the three major indices on the New York Stock Exchange closed mixed within a narrow range, showing a limited response. The blue-chip Dow Jones index closed at 44,837.56, down 64.36 points (0.14%) from the previous trading day. The large-cap S&P 500 index rose 1.13 points (0.02%) to 6,389.77, while the tech-heavy Nasdaq index gained 70.27 points (0.33%) to close at 21,178.58, setting a new all-time high. U.S. President Donald Trump stated that for countries that have not yet signed agreements, "Tariffs will probably be either 15% or 20%, one of those two."
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