Both KOSPI and KOSDAQ Start Slightly Lower

Impact of Sell-Off Mainly on Stocks with Large Price Increases

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[Asia Economy Reporter Minwoo Lee] Both the KOSPI and KOSDAQ markets opened slightly lower. This is interpreted as selling pressure emerging mainly from stocks that had experienced significant gains.

On the 7th, the KOSPI index opened at 2350.82, down 0.64% (15.08 points) from the previous day. As of 9:18 AM, the decline narrowed slightly to 2353.44.

By investor type, foreign investors showed strong selling pressure. Foreigners net sold 39.7 billion KRW, while individuals and institutions net bought 29.1 billion KRW and 10.9 billion KRW, respectively.

Most sectors were in decline. The steel and metal sector had the largest drop at 0.98%. This was followed by transportation equipment (-0.87%), textiles and apparel (-0.73%), and securities (-0.68%). On the other hand, machinery (0.54%), pharmaceuticals (0.49%), and paper and wood (0.16%) rose.

Among the top 10 market capitalization stocks, most fell. NAVER had the largest decline at 1.3%. This was followed by Samsung SDI (-1.2%), Hyundai Motor (-1.1%), Kakao (-1.0%), LG Chem (-0.7%), and Samsung Electronics (-0.5%). Meanwhile, Samsung Biologics and SK Hynix rose by 1.1% and 0.1%, respectively. LG Household & Health Care remained flat.

The KOSDAQ index also opened lower at 856.70, down 0.68% (5.78 points) from the previous day. It then rebounded to 860.33 as of 9:18 AM.

The decline in the index appears to have been driven by selling from individuals and institutions. Foreign investors net bought 110.8 billion KRW, while individuals and institutions net sold 94.3 billion KRW and 21.6 billion KRW, respectively.

Many sectors declined. The miscellaneous manufacturing sector had the largest drop at 0.60%, followed by paper and wood (-0.57%), semiconductors (-0.47%), and general electrical and electronics (-0.42%). Conversely, transportation (1.47%), textiles and apparel (1.12%), and metals (1.00%) rose.

Most of the top market capitalization stocks were in decline. Genexine had the largest drop at 1.9%, followed by Alteogen (-1.8%), HL Biopharma (-1.7%), and KMW (-1.2%). Seegene and Kakao Games both rose by 0.7%.

Seosangyoung, a researcher at Kiwoom Securities, said, "The Korean stock market is expected to open lower as selling pressure emerges mainly from stocks that had experienced significant gains. Afterwards, with the options expiration date approaching, the index direction will be determined by foreign investors' futures trends."

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