KOSPI Fluctuates Repeatedly... "May Will Also Mix Expectations and Concerns"

Intraday Rise to 3,179 Before Turning Down
KOSDAQ Also Shows Mixed Trends

On the 27th, when the KOSPI index showed mixed trends in the early session, dealers were working in the Hana Bank dealing room in Euljiro, Seoul. Photo by Mun Ho-nam munonam@

[Asia Economy Reporter Gong Byung-sun] The KOSPI is showing mixed trends as individual buying and institutional selling fluctuate. It is expected that the market will continue to show a mixed flow of optimism and concern in May.

As of 10:46 a.m. on the 30th, the KOSPI recorded 3,159.90, down 0.45% (14.17 points). It rose to 3,179.43 at 9:28 a.m. but then turned downward.

Many sectors declined. The construction sector saw the largest drop at -3.28%. This was followed by steel and metals (-2.20%), non-metallic minerals (-1.44%), telecommunications (-1.38%), and chemicals (-1.27%). Meanwhile, securities (2.50%), banking (1.90%), transportation and warehousing (1.00%), finance (0.98%), and textiles and apparel (0.37%) rose.

Most of the top 10 market capitalization stocks fell. LG Chem had the largest decline at -3.36%, followed by Kakao (-2.99%), Hyundai Motor (-2.53%), Samsung SDI (-2.38%), NAVER (-2.32%), POSCO (-2.28%), SK Hynix (-1.92%), and Celltrion (-0.56%). Samsung Electronics and Samsung Biologics remained flat.

At the same time, the KOSDAQ recorded 985.33, down 0.54% (5.36 points). It had risen to 995.74 at 9:29 a.m. but then turned downward as well.

Most sectors declined. The paper and wood sector had the largest drop at -2.93%, followed by transportation (-1.97%), publishing and media replication (-1.86%), medical and precision instruments (-1.60%), and computer services (-1.60%). Broadcasting services (1.22%), information devices (0.84%), telecommunications and broadcasting services (0.79%), entertainment and culture (0.39%), and internet (0.15%) rose.

Almost all of the top 10 market capitalization stocks fell. Alteogen had the largest decline at -2.17%, followed by EcoPro BM (-1.82%), Celltrion Pharm (-1.54%), Kakao Games (-1.28%), Pearl Abyss (-1.23%), SK Materials (-0.68%), Celltrion Healthcare (-0.62%), and HLB (-0.45%). Studio Dragon (3.08%) and CJ ENM (2.70%) rose. Studio Dragon briefly rose to 9th in market capitalization early in the session but then fell back to 10th.

Meanwhile, it is expected that the market will show a slow upward trend in May as optimism and concerns mix. With the release of first-quarter earnings, a mix of earnings surprises and shocks may emerge. Kim Dae-jun, a researcher at Korea Investment & Securities, said, “It is difficult to determine a clear direction for the KOSPI as positive and negative factors offset each other. However, companies that have reported earnings are showing better-than-expected figures, so the index is likely to lean toward rising rather than falling.”

Other factors are favorable for the stock market. On the 28th (local time), the U.S. Federal Reserve’s April Federal Open Market Committee (FOMC) meeting dispelled market concerns, preventing an increase in uncertainty in the U.S. stock market. Researcher Kim explained, “Fed Chair Jerome Powell drew a line by stating that tapering (reducing asset purchases) will not be taken for the time being. The financial stress index and the VIX index related to fear sentiment in the U.S. are stabilizing downward.”

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