Concerns Over COVID-19 Resurgence... KOSPI and KOSDAQ Both Decline

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[Asia Economy Reporter Park Jihwan] The domestic stock market started lower amid global concerns over the resurgence of the novel coronavirus infection (COVID-19).

On the 29th, as of 9:18 a.m., the KOSPI recorded 2,100.23, down 34.42 points (1.61%) from the previous trading day. The KOSPI opened at 2,104.26, down 30.39 points (-1.42%) from the previous trading day.

This is interpreted as reflecting growing signs of a COVID-19 resurgence not only domestically but also overseas. On the 26th (local time), the New York stock market showed a downward trend, with the Dow Jones Industrial Average falling 2.84% and the Nasdaq index dropping 2.59%, as some states strengthened lockdown measures due to concerns over the COVID-19 resurgence.

Recently, as COVID-19 has begun spreading again in the United States, only two out of the 50 states have seen a decrease in new cases. In particular, some states are preparing to strengthen economic shutdowns again due to a sharp increase in new infections.

Seo Sang-young, a researcher at Kiwoom Securities, analyzed, "The domestic stock market is expected to see selling pressure as uncertainty rises due to the resurgence of COVID-19 in the U.S. The announcement by some state governments to strengthen economic shutdowns has increased concerns, and there are many factors that could stimulate volatility, such as the U.S.-China trade dispute and economic uncertainty."

Looking at trading trends by market participants, individuals and foreigners were net buyers of 62.2 billion KRW and 31.9 billion KRW, respectively. In contrast, institutions were net sellers of 90.9 billion KRW.

Most of the top market capitalization stocks are also declining. Samsung Electronics (-1.69%), SK Hynix (-1.06%), Samsung Biologics (-1.48%), and NAVER (-1.67%) are falling, while Celltrion (0.80%) is the only stock rising.

Currently, in the KOSPI market, including two stocks hitting the upper limit, 100 stocks are rising. Without any stocks hitting the lower limit, 759 stocks are falling. Thirty-one stocks are unchanged.

The KOSDAQ index is also on a downward trend. At the same time, it recorded 744.25, down 6.33 points (0.84%) from the previous day. The KOSDAQ index opened at 743.88, down 6.70 points (-0.89%) from the previous trading day.

Individuals and foreigners were net buyers of 8.5 billion KRW and 6.4 billion KRW, respectively, while institutions were net sellers of 11 billion KRW.

Among the top market capitalization stocks, most showed a downward trend except for Celltrion Pharm (0.45%) and KMV (1.09%).

Currently, in the KOSDAQ market, without any stocks hitting the upper limit, 231 stocks are rising. Without any stocks hitting the lower limit, 1,024 stocks are falling. Fifty-one stocks are unchanged.

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