KOSPI Starts Lower Amid Crude Oil Market Collapse... Falls to 1870 Level

On the 21st, when the KOSPI index started lower due to the impact of the international oil price plunge, dealers were working in the dealing room of Hana Bank in Euljiro, Seoul. Photo by Moon Honam munonam@

[Asia Economy Reporter Geum Bo-ryeong] As the crude oil market collapsed, the KOSPI and KOSDAQ opened lower on the 21st.

As of 9:23 a.m. that day, the KOSPI showed 1,874.80, down 23.56 points (1.24%) from the previous session.

The KOSPI opened at 1,886.78, down 11.58 points (0.61%) compared to the previous trading day, and then widened its decline.

In the securities market, individuals net bought 63.8 billion KRW, while foreigners and institutions net sold 58.8 billion KRW and 5.3 billion KRW, respectively.

By sector, pharmaceuticals (0.18%), electricity and gas (1.81%), and transportation and warehousing (1.16%) rose, while transportation equipment (2.36%) and food and beverages (1.09%) fell.

Among the top 10 companies by market capitalization, only Celltrion (0.94%) and Samsung C&T (0.11%) rose. Samsung Electronics (1.5%), SK Hynix (1.22%), and Hyundai Motor (2.66%) declined.

Seo Sang-young, a researcher at Kiwoom Securities, said, "The international oil price collapsed, recording a historic negative value. As a result, the U.S. stock market initially rose on hopes of economic reopening but eventually turned downward. However, the stock market showed a tendency to have a limited decline compared to the oil market. In particular, the rise in the U.S. Volatility Index (VIX) was also limited. Although the oil market collapsed, it tended to stabilize after August, which is presumed to be due to the emphasis that financial market stability can begin once economic reopening starts. Therefore, while concerns from the oil market collapse are spreading and a correction in the Korean stock market is expected, the possibility of a sharp drop like in the past is limited," he explained.

At the same time, the KOSDAQ index was 629.10, down 8.72 points (1.37%) from the previous session.

The KOSDAQ opened at 634.76, down 3.06 points (0.48%) from the previous trading day, maintaining a weak trend.

In the KOSDAQ market, individuals net bought 43.8 billion KRW, while foreigners and institutions net sold 10.3 billion KRW and 30.3 billion KRW, respectively.

By sector, computer services (1.46%) rose, while semiconductors (1.5%) and chemicals (1.07%) fell.

Among the top market cap companies, Celltrion Healthcare (1.37%), Pearl Abyss (0.51%), Celltrion Pharm (1.4%), and Helixmith (1.72%) rose. Conversely, HLB (2.82%), CJ ENM (1.89%), and Studio Dragon (1.36%) declined.

This content was produced with the assistance of AI translation services.