Concerns Over Economic Recession Persist... Closes Down at 1928.61 Amid Foreign Selling Pressure

[Asia Economy Reporter Minji Lee] The KOSPI closed lower due to foreign selling pressure. During the day, the KOSPI showed an upward trend following news that the government would promote the Korean New Deal policy.

On the 7th, the KOSPI ended the session at 1928.61, down 0.01% (0.15 points) from the previous close. The KOSPI opened at 1922.00, down 0.35% (6.76 points) from the previous close, maintaining a downward trend but turning upward during the session to show gains.

In the securities market that day, individuals purchased stocks worth 253.6 billion KRW, and institutions bought stocks worth 58.1 billion KRW. Foreigners alone sold stocks worth 321.9 billion KRW.

Sangyoung Seo, a researcher at Kiwoom Securities, explained, "Although the market started lower influenced by the US stock market, it turned upward following the announcement of the direction to promote the 'Korean New Deal' and favorable export statistics from China. However, foreigners continued to sell due to concerns over a global economic recession."

The top-performing sectors by increase were Medical Precision (4.39%), Services (2.43%), Paper & Wood (1.84%), Textiles & Apparel (1.56%), and Transportation & Warehousing (1.51%).

Among the top market capitalization stocks, Naver (1.65%) and LG Household & Health Care (1.52%) rose. Samsung Electronics (-0.81%), Samsung Biologics (-1.39%), Celltrion (-1.45%), LG Chem (-1.94%), and Samsung C&T (-2.82%) declined.

On the other hand, the KOSDAQ index closed higher at 668.17, up 1.48% (9.77 points) from the previous close, as buying pressure from foreigners and institutions increased. The KOSDAQ index opened at 659.45, up 0.16% (1.05 points) from the previous close, and maintained an upward trend throughout the session.

In the KOSDAQ market, foreigners and institutions net bought stocks worth 15.1 billion KRW and 32.5 billion KRW respectively, while individuals sold stocks worth 27.7 billion KRW.

The top-performing sectors by increase were Machinery Equipment (3.63%), Semiconductors (2.95%), and Medical Precision Instruments (2.90%).

Among the top market capitalization stocks, Pearl Abyss (1.01%), KMH (1.65%), Seegene (1.18%), Studio Dragon (1.30%), Alteogen (10.22%), and SK Materials (1.41%) rose.

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