KOSPI Starts Down 1% Amid US-Iran Clash, Ends Without Further Decline
KOSPI Slightly Rises in Afternoon... Closes at 2155.07, Down 0.98%
KOSDAQ More Affected... Closes at 655.31, Down 2.18%
On the 6th, KOSPI opened at 2154.97, down 21.49 points (0.99%) from the previous trading day due to increased volatility in the global financial markets caused by tensions in the US and the Middle East. Dealers are working in the dealing room of KEB Hana Bank in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@
View original image[Asia Economy Reporter Minwoo Lee] The KOSPI, which started down 1% due to the military conflict between the US and Iran, closed the session without further decline.
On the 6th, the KOSPI opened at 2154.97, down 0.99% from the previous trading day, and closed at 2155.07, down 21.39 points (0.98%) from the previous day. It fell to 2150.94, down as much as 1.17% in the afternoon, but then rose slightly before closing.
Individuals and foreigners net bought 235.5 billion KRW and 99.4 billion KRW respectively, but institutional investors sold 320 billion KRW, offsetting the effect.
Most sectors declined. In particular, construction (3.42%), pharmaceuticals (2.54%), securities (2.26%), steel & metals (2.18%), banking (2.13%), paper & wood (2.09%), and electricity & gas (1.19%) experienced large drops.
Most of the top 10 market capitalization stocks also fell. Celltrion dropped the most at 2.54%, followed by POSCO (2.32%) and Samsung Biologics (2.25%). Hyundai Motor maintained the same level as the previous day.
On the day, 783 stocks declined on the KOSPI market. 27 stocks remained unchanged. Including two stocks hitting the upper limit price (Korea Petroleum, Geukdong Petrochemical), 101 stocks rose. The escalation of conflict between the US and Iran led to a rise in international oil prices, which was interpreted as a factor causing cost increases for domestic petrochemical companies.
The KOSDAQ index fell more sharply than the KOSPI. It closed at 655.31, down 14.62 points (2.18%) from the previous trading day.
Individuals net bought 215.2 billion KRW, while foreigners and institutions net sold 74.9 billion KRW and 146.9 billion KRW respectively.
By sector, all sectors except transportation (up 0.41%) declined. Other services (3.37%), pharmaceuticals (3.28%), entertainment & culture (3.20%), paper & wood (2.88%), food & tobacco (2.79%), textiles & apparel (2.77%), and digital content (2.74%) experienced large drops.
All of the top 10 market capitalization stocks fell. Paradise dropped the most at 4.52%, followed by Helixmith (4.18%), Studio Dragon (3.38%), Medytox (3.05%), and SK Materials (3.04%).
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On the day, 1,078 stocks declined on the KOSDAQ market. Including stocks hitting the upper limit price such as Heungkuk Petroleum and SkyMoon Technology, 229 stocks rose. 47 stocks remained unchanged.
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