Domestic Stock Market Starts Lower Amid US Plunge, Narrows Losses... KOSDAQ Turns 'Up'

[Asia Economy Reporter Oh Ju-yeon] Due to the impact of the U.S. stock market, which plummeted amid the resurgence of the novel coronavirus infection (COVID-19) and delays in additional economic stimulus measures, the domestic stock market also started lower on the 27th but later recovered a significant portion of the losses, with the KOSDAQ index turning positive with a 1% rise.

As of 10:30 a.m. that day, the KOSPI recorded 2,344.73, up 0.03% from the previous trading day. The KOSPI opened the session down 0.65% at 2,328.66 but narrowed its losses and reversed to an intraday gain. Since then, it has been fluctuating around the 2,340 level.

Among the top market capitalization stocks, Samsung Electronics (-0.83%), SK Hynix (-0.60%), and LG Chem (-1.70%) declined, while NAVER (1.95%), Samsung Biologics (1.59%), and Hyundai Motor (2.04%) rose.

By investor type, individuals sold a net 79.3 billion KRW worth of shares, while foreigners and institutions bought net 51.7 billion KRW and 8.7 billion KRW worth of shares, respectively.

The KOSDAQ index rose 1.12% to 786.76 compared to the previous trading day. It initially fell 1.42% to 766.96 right after the opening but then turned upward. However, it failed to reclaim the 800-point level, which had collapsed after a sharp 3% drop the previous day.

All of the top 10 stocks by market capitalization rose. Among them, Seegene (4.61%), Alteogen (2.84%), and Genexine (3.11%) showed notable gains.

By investor type, individuals sold a net 155.3 billion KRW worth of shares, while foreigners bought a net 173.8 billion KRW worth. Institutions continued their 'selling' trend from the previous day, selling a net 5.2 billion KRW worth of shares.

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