KOSPI Falls to '2940 Level' Amid Institutional and Foreign Selling... "Impact of Weak US Stock Market"

[Asia Economy Reporter Park Jihwan] On the 10th, the domestic stock market started off with a broad decline. This appears to reflect the impact of the U.S. New York stock market's overnight halt to its recent consecutive record-breaking rally and its closing in the red.

As of 9:13 a.m., the KOSPI was at 2,947.03, down 15.43 points from the previous trading day. The index opened down 15.00 points at 2,947.46.

On the 9th (local time), the Standard & Poor's (S&P) 500 index closed at 4,685.26 points, down 16.45 points (0.35%) from the previous day. The Dow Jones Industrial Average fell 112.24 points (0.31%) to close at 36,319.98. The tech-heavy Nasdaq index recorded 15,886.54, down 95.81 points (0.60%) from the previous session.

All three major indices, which had reached record highs until the previous day, turned downward. The S&P 500 ended its eight-day streak of record highs. Among individual stocks, Tesla plunged 12%, marking its largest single-day drop in 14 months since September last year. Seo Sangyoung, a researcher at Mirae Asset Securities, predicted, "The U.S. stock market's decline due to supply-demand factors and increased volatility in individual companies will have a negative impact on the Korean stock market."

By investor type, individual investors alone bought a net 58 billion KRW, defending against the market decline. Foreigners and institutions sold net 22.6 billion KRW and 36.1 billion KRW, respectively.

Among the top market capitalization stocks, most showed weakness. SK Hynix (-0.46%), NAVER (-0.48%), Samsung Biologics (-0.48%), LG Chem (-2.47%), Samsung SDI (-0.80%), and Hyundai Motor (-1.64%) all declined. Samsung Electronics (0.14%), Kakao (0.40%), and Celltrion (3.41%) rose.

At the same time, the KOSDAQ index was down 7.17 points (0.71%) at 1,001.51. The index opened down 2.09 points (-0.21%) at 1,006.59.

By investor type, foreigners and institutions sold net 52.2 billion KRW and 40 billion KRW, respectively. Meanwhile, individuals bought net 115.5 billion KRW.

Among the top market capitalization stocks, Wemade (-2.85%) and Kakao Games (-0.61%) showed weakness. Particularly, secondary battery stocks such as L&F (-1.5%) and EcoPro BM (-1.04%) were also weak, influenced by Tesla's overnight 12% plunge. On the other hand, Celltrion Healthcare (2.05%), Pearl Abyss (7.61%), and Celltrion Pharm (2.51%) rose. Han Jiyoung, a researcher at Kiwoom Securities, stated, "Considering the significant price adjustment of Tesla in the U.S. stock market, it is necessary to pay attention to the increased price volatility of domestic electric vehicle and secondary battery-related stocks."

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