KOSPI Ends Down Over 1% Amid US-China Conflict Concerns

China Does Not Set Economic Growth Target at Two Sessions
Closes Lower Amid Foreign and Institutional Selling Pressure

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices closed down over 1% due to selling pressure from foreigners and institutions.

On the 22nd, the KOSPI closed at 1970.13, down 1.41% (28.18 points) from the previous session. The KOSPI opened higher at 2001.60, up 0.16% (3.29 points) from the previous session, but soon turned downward and widened its losses. In the securities market, individual investors bought stocks worth 937.7 billion KRW, while institutions and foreigners sold net amounts of 454.7 billion KRW and 467.7 billion KRW, respectively.

On the 22nd, the KOSPI index showed a weak trend after starting with a rise. Dealers are working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Moon Honam munonam@

By sector, the highest gains were seen in services (0.58%), transportation and warehousing (0.35%), non-metallic minerals (0.13%), and food and beverages (0.11%). Among the top market capitalization stocks, Samsung Electronics closed at 48,750 KRW, down 2.40% from the previous session. SK Hynix (-2.52%), Celltrion (-1.14%), and LG Chem (-0.13%) also declined. On the other hand, Samsung Biologics (1.48%), Naver (2.44%), and Samsung SDI (0.3%) rose.

Lee Kyung-min, a researcher at Daishin Securities, explained, “Amid the China Two Sessions meeting, the absence of a specific GDP growth target and the intensifying conflict between the US and China over Hong Kong dampened investor sentiment across Asian stock markets. Despite the reopening of economic activities in major global countries, the market focused on the escalating tensions between the US and China.”

The KOSDAQ index closed at 708.58, down 1.04% (7.44 points) from the previous session. The KOSDAQ started the day at 717.78, up 0.25% (1.76 points) from the previous session, continuing its upward trend, but turned downward as institutions and foreigners heavily sold. In the KOSDAQ market, individual investors bought stocks worth 287.3 billion KRW, while institutions and foreigners sold stocks worth 146.7 billion KRW and 134.5 billion KRW, respectively.

By sector, the highest gains were in metals (0.40%), information devices (0.15%), and pharmaceuticals (0.09%). Among the top market capitalization stocks, Seegene (2.43%), Alteogen (4.18%), and EcoPro BM (2.56%) rose. Celltrion Healthcare (-1.3%), HLB (-0.58%), Pearl Abyss (-0.67%), and CJ ENM (-4.14%) declined.

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