KOSPI, Slightly Weak Around '3020'... Market Remains Cautious

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] The KOSPI remained around the '3020 level' on the morning of the 29th, continuing a slight decline.

As of 10:42 AM, the KOSPI stood at 3028.88, down 0.40% (12.13 points) from the previous trading day. The market opened at 3047.71, up 0.22% (6.70 points) from the previous day. It showed a strong trend early in the session, rising to 3054.21, but soon turned downward.

By investor type, individuals were net buyers with 669.5 billion KRW. In contrast, foreigners and institutions sold 157.9 billion KRW and 510.6 billion KRW respectively, leading the index decline.

Among the top market capitalization stocks, Samsung Electronics (-0.61%), SK Hynix (-2.22%), NAVER (-1.83%), and Hyundai Motor (-1.39%) declined. Meanwhile, Celltrion rose nearly 5% following news of conditional approval for the COVID-19 treatment Regkirona from the European Medicines Agency (EMA). LG Chem (0.37%) and Samsung Biologics (0.69%) also saw slight gains.

At the same time, the KOSDAQ fell 0.75 points (-0.08%) to 955.95. The index opened at 956.88, up 0.02% (0.18 points) from the previous day, showing a fluctuating pattern of rises and falls throughout the session.

Foreigners sold 33.8 billion KRW, institutions sold 42.3 billion KRW, and individuals bought 81.9 billion KRW.

Among the top market capitalization stocks, movements were mixed. Celltrion Healthcare and Celltrion Pharm rose 4.26% and 2.97% respectively, showing strength alongside Celltrion. Conversely, Seegene (-1.60%) and Pearl Abyss (-1.74%) declined.

The market analysis suggests that investors are taking a pause and adopting a wait-and-see stance. In fact, since the end of last month, the KOSPI has been fluctuating around the '3000 level' without strong upward or downward trends.

For the time being, the domestic stock market is expected to maintain this cautious investor sentiment. Lee Jin-woo, head of investment strategy at Meritz Securities, explained, "This is an extension of the overall wait-and-see trend. The stocks currently rising are those recently in focus, such as steel, shipbuilding, and some pharmaceutical sectors, while the rest are taking a breather."

He added, "The KOSPI, heavily influenced by large-cap stocks, is showing a slight decline, and although the KOSDAQ is performing well, there is no clear trend indicating whether the market direction is upward or downward."

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