[Weekly Market Review] Kospi Ends Around 1920 Level Without Major Fluctuations

Samsung Electronics Vice Chairman Lee Jae-yong (left) and Hyundai Motor Group Executive Vice Chairman Chung Eui-sun are shaking hands at the 2019 New Year's gathering held last year at the Grand Hall of the Korea Federation of Small and Medium Business in Yeouido, Seoul. (Photo by Yonhap News)

[Asia Economy Reporter Kum Bo-ryeong] From the 11th to the 15th of last week, the domestic stock market showed little fluctuation, with the KOSPI index closing at the 1920 level.

According to the Korea Exchange on the 16th, the KOSPI index closed at 1927.28 on the 15th, up 2.32 points (0.12%) from the previous session.

On the 11th, the KOSPI dropped 10.42 points (0.54%) to 1935.40 due to reports of sluggish domestic exports. According to the Korea Customs Service, exports from the 1st to the 10th of this month amounted to $6.9 billion, a 46.3% decrease compared to the same period last year.

On the 12th, the index fell 13.23 points (0.68%) to 1922.17 amid growing concerns over a COVID-19 cluster infection outbreak.

In contrast, on the 13th, the market closed at 1940.42, up 18.25 points (0.95%) from the previous day, driven by expectations of electric business cooperation between Samsung Group and Hyundai Motor Group, as well as optimism about the Korean New Deal policy. Samsung Group Vice Chairman Lee Jae-yong and Hyundai Motor Group Executive Vice Chairman Chung Eui-sun visited Samsung SDI's Cheonan plant on the 13th to inspect the electric vehicle battery business on-site.

On the 14th, the index dropped 15.46 points (0.80%) to 1924.96 due to concerns over remarks made by Jerome Powell, Chairman of the U.S. Federal Reserve. On the 13th (local time), Powell stated in a virtual speech at the Peterson Institute for International Economics (PIIE) think tank that the economy is facing the most severe recession since World War II, suggesting the possibility of a prolonged economic downturn caused by COVID-19.

According to Cape Investment & Securities, foreign investors and institutions net sold 1.34 trillion KRW and 849.5 billion KRW respectively in the stock market over the week. Conversely, individual investors net bought 2.15 trillion KRW.

By sector on the KOSPI, food and beverage (4.58%), pharmaceuticals (3.36%), and electric and gas utilities (2.96%) showed strength, while steel and metals (-4.92%), banking (-4.76%), and construction (-4.68%) showed weakness.

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