KOSPI and KOSDAQ Close Steady Despite COVID-19 Resurgence and Korean Peninsula Security Concerns

[Asia Economy Reporter Minji Lee] Despite challenging domestic and international conditions such as concerns over the resurgence of COVID-19 and security crises on the Korean Peninsula, the KOSPI ended the session flat without significant fluctuations.

[Image source=Yonhap News]

On the 17th, the KOSPI closed at 2141.05, up 0.14% (3 points) from the previous session. The index opened at 2133.18, down 0.23% (4.87 points) from the previous session, fluctuated throughout the day, and ended on an upward trend near the close. As the government warned of a tough response to North Korea, increasing geopolitical risks on the Korean Peninsula, the index fell as much as 1.5% to 2105.26 in the afternoon. On this day, individual investors bought stocks worth 153.3 billion KRW, while foreigners and institutions sold stocks worth 52.2 billion KRW and 116.3 billion KRW, respectively.

Sangyoung Seo, a researcher at Kiwoom Securities, explained, “Selling pressure emerged due to growing concerns over the resurgence of COVID-19 in the U.S. and China and the potential expansion of military clashes between China and India. However, as the Chinese stock market, led by the pharmaceutical and biotech sectors, showed signs of narrowing losses, the domestic market also saw a reduction in its decline.”

Among the top market capitalization stocks, Samsung Electronics (0.19%), SK Hynix (1.64%), Naver (3.08%), LG Chem (0.82%), and Samsung SDI (2.26%) rose.

The KOSDAQ index ended the day at a level similar to the previous closing price. Although the index fell by more than 2% during the session, it quickly recovered the losses and closed 0.02 points higher than the previous day. In the KOSDAQ market, individual investors alone purchased stocks worth 295.1 billion KRW, while foreigners and institutions sold stocks worth 113 billion KRW and 81.9 billion KRW, respectively.

Among the top market capitalization stocks, HL Biopharma (0.84%), Alteogen (1.41%), EcoPro BM (11.45%), CJ ENM (3.44%), KMH (3.25%), and Studio Dragon (4.41%) rose.

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