Mixed Trends in Domestic Stock Market... KOSPI Turns to Intraday Decline Amid 'Record-High New COVID-19 Cases'

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market showed mixed trends on the morning of the 21st. The KOSPI index rebounded for the first time in four days at the opening on the 21st but turned downward during the session due to foreign selling pressure, while the KOSDAQ index was leading the market with gains centered on stocks with high expectations for earnings improvement. The number of new COVID-19 cases exceeded 1,700 on the day, indicating that the aftereffects of the 'Delta shock' continue.

As of 10:35 a.m. on the 21st, the KOSPI index was at 3,224.47, down 8.23 points (0.25%) from the previous day. The U.S. stock market rebounded the previous day despite the Delta shock, and the KOSPI started the day up 0.78%, but it turned downward during the session. Individual investors net bought stocks worth 354.9 billion KRW, but foreign investors net sold stocks worth 282.6 billion KRW, and institutions sold about 79.7 billion KRW, continuing the selling pressure, which eventually led to a decline.

Among the top market capitalization stocks, technology stocks such as Samsung Electronics (-0.38%), SK Hynix (-0.84%), NAVER (-1.37%), Kakao (-3.62%), and Samsung Biologics (-2.08%) showed declines as foreign investors continued selling. On the other hand, electric vehicle battery-related stocks like LG Chem (+0.49%) and Samsung SDI (+0.96%) showed slight gains. Hyundai Motor and Kia Motors were also up 0.88% and 0.46%, respectively, while Celltrion showed early strength but then declined by 0.73%.

At the same time, the KOSDAQ index rose 0.89 points (0.09%) from the previous day to 1,044.53. Individual investors net bought stocks worth 188.6 billion KRW, while foreign and institutional investors net sold stocks worth 109.8 billion KRW and 73.2 billion KRW, respectively.

In the KOSDAQ market, SK Materials rose 7.33% on news of entering the secondary battery business, and Kakao Games rose 4.89% on expectations of significant earnings improvement due to the success of a new game. Conversely, EcoPro BM (-1.42%), Pearl Abyss (-5.33%), and Seegene (-0.12%) declined.

Seo Sang-young, a researcher at Mirae Asset Securities, explained, "Since the COVID-19 issue has not been completely resolved, it is insufficient to continue the rise. In the short term, stocks with high expectations for earnings improvement are showing strength."

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