KOSPI Falls Over 2%... Breaks Below 1900 During Session

[Asia Economy Reporter Oh Ju-yeon] On May 4, the first day of the stock market in May, the KOSPI fell more than 2%, breaking below the 1900 level during the session. This decline is attributed to the impact of the U.S. stock market falling during the holiday when the domestic market was closed, amid concerns about an economic recession and escalating U.S.-China trade disputes.

As of 9:20 a.m. that day, the KOSPI stood at 1903.99, down 2.24% from the previous trading day. It fell further to 1896.08 (-2.64%) during the session, widening the loss, but later recovered above the 1900 level and fluctuated around a 2% decline.

Ahead of the market opening this month, the market paid attention to the stock market adage "Sell in May," focusing on the market conditions following the rebound from the COVID-19 pandemic. Securities firms projected the KOSPI band ranging from as low as 1700 to as high as 2000, anticipating a short-term correction within an overall upward trend.

Among the top market capitalization stocks that day, Samsung Electronics (-2.50%), SK Hynix (-2.15%), Samsung Biologics (-1.89%), NAVER (-1.77%), Celltrion (-1.19%), and LG Chem (-3.19%) all declined consecutively.

The KOSDAQ index recorded 642.88, down 0.30% from the previous trading day.

Among the top market capitalization stocks on KOSDAQ, Celltrion Healthcare (-0.24%), CJ ENM (-2.66%), Pearl Abyss (-1.82%), KMH (0.82%), and Seegene (-2.58%) declined, while HL Biopharma (2.60%) and Celltrion Pharm (3.26%) rose.

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