KOSPI Turns Down Early in Session... Naver and Kakao Plunge Over 3%

Impact of Pfizer Vaccine... Korean Air Soars 12%
KOSDAQ Index Falls Over 1%... Seegene Plummets 7%

[Asia Economy Reporter Minji Lee] The KOSPI is showing a downward trend in the early trading session.

At 9:22 a.m. on the 10th, the KOSPI recorded 2,437.91, up 0.38% (9.29 points) from the previous session. The index opened at 2,453.95, up 0.28% (6.75 points) from the previous close, showed a slight rise, then turned downward. In the market, individual investors alone bought stocks worth 261.2 billion KRW. Foreigners and institutions sold stocks worth 78.4 billion KRW and 178.5 billion KRW, respectively.

On the 10th, news related to Pfizer's COVID-19 vaccine was displayed on a dealer's monitor at the Hana Bank dealing room in Euljiro, Seoul. On the same day, the KOSPI opened at 2,453.95, up 6.75 points (0.28%) from the previous trading day. The won-dollar exchange rate opened at 1,118.5 won, up 4.6 won. Photo by Moon Honam munonam@

Among the top market capitalization stocks, SK Hynix (1.28%) and Samsung Biologics (1.84%) rose. On the other hand, Samsung Electronics (-0.33%), LG Chem (-1.77%), NAVER (-4.03%), and Kakao (-3.5%) declined.

With growing expectations for Pfizer's COVID-19 vaccine, stocks related to airlines and leisure showed significant gains. Korean Air traded at 24,600 KRW, up 12.84% from the previous session, and Jin Air (10.77%) and T'way Air (17.71%) also rose.

Sangyoung Seo, a researcher at Kiwoom Securities, explained, "The early results of Pfizer's third-phase COVID vaccine clinical trial showing efficacy beyond expectations will lead to strength in contact-related stocks. Conversely, there will be selling pressure on untact-related stocks included among the top market capitalization stocks."

At the same time, the KOSDAQ index is pointing to 838.01, down 1.56% (13.24 points) from the previous session. The index started the day at 844.22, down 0.82% (6.99 points) from the previous close, and is widening its decline. In the KOSDAQ market, individual investors alone bought stocks worth 104 billion KRW, while foreigners and institutions sold stocks worth 45.5 billion KRW and 53.8 billion KRW, respectively.

Looking at the top market capitalization stocks, most are showing a downward trend. Seegene fell 6.89% from the previous session, trading at 255,900 KRW. Celltrion Healthcare (-1.73%), Alteogen (-1.3%), Kakao Games (-2.1%), and Celltrion Pharm (-1.82%) also declined.

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