KOSPI Threatened Below 1900 Amid Concerns Over COVID-19 Resurgence and US-China Trade Dispute

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] The KOSPI is expanding its decline, threatening the 1900-point level. This is interpreted as being influenced by the resurgence of COVID-19 and concerns over the trade dispute between the United States and China.

On the 12th, the KOSPI opened at 1938.62, up 3.22 points (0.17%) from the previous trading day, but immediately turned downward after the market opened, with the decline gradually widening. As of 10 a.m., it recorded 1909.54, down 25.86 points (1.35%) from the previous trading day.

Sangyoung Seo, a researcher at Kiwoom Securities, explained, "It appears that selling pressure is emerging in the domestic stock market due to U.S. President Donald Trump's remark after the U.S. stock market closed that he is not interested in renegotiating trade with China," adding, "The domestic stock index's upward momentum has been limited recently due to the spotlight on the U.S.-China trade dispute."

By trading participants, institutional and foreign investors are net sellers of 192 billion KRW and 69 billion KRW respectively, pulling the index down. On the other hand, individual investors are net buyers of 263.7 billion KRW.

Among the top market capitalization stocks, LG Chem, Samsung C&T, Hyundai Motor, and Samsung SDI are declining, while NCSoft, Celltrion, and SK Telecom are rising.

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