Domestic Stock Market 'Briefly Rebounds', Turns Down Amid Omicron Concerns

[Asia Economy Reporter Ji Yeon-jin] On the 21st, the domestic stock market, which started with a rebound, is showing mixed trends due to concerns over Omicron. The KOSPI index is fluctuating with strength centered on major technology stocks in the early session, while the KOSDAQ turned to a decline just five minutes after opening, showing weakness.

On the 21st, the KOSPI opened at 2,981.67, up 18.67 points (0.63%) from the previous trading day, at the Hana Bank dealing room in Jung-gu, Seoul. The won-dollar exchange rate started at 1,189.8 won, down 1.0 won from the previous trading day. Photo by Hyunmin Kim kimhyun81@

The KOSPI index started trading at 2,981.19, up 18.19 points (0.61%) on the day, but gave up its gains and began to decline around 9:27 a.m., fluctuating since then. As of 9:34 a.m., the KOSPI was down 5.26 points (0.15%) at 2,957.16.

Institutions are net buying about 177 billion KRW, while foreign investors, who showed buying momentum early in the session, are recording net sales of 33.8 billion KRW. Individuals are also net selling about 139.5 billion KRW.

SK Hynix rose 2.07%, and Samsung Electronics also showed an increase of 0.52%, with semiconductor stocks leading the gains. Kakao is up 0.44%, and Samsung Biologics (0.53%) and NAVER (0.4%) are showing slight gains. On the other hand, Hyundai Motor (down 0.49%) and Kia (down 0.48%) are slightly down, while electric vehicle battery stocks such as LG Chem (-2.59%) and Samsung SDI (-2.45%) are extending their losses.

At the same time, the KOSDAQ index is trading at 985.33, down 5.26 points (0.53%). The KOSDAQ opened at 994.78, up 4.27 points (0.43%), but turned to a decline early in the session. Institutions sold about 44.9 billion KRW, while individuals and institutions are net buying 14.6 billion KRW and 37.6 billion KRW respectively.

Among the top market cap stocks on the KOSDAQ, Seegene showed strong gains of 3.40%, while secondary battery stocks such as EcoPro BM (-2.53%) and L&F (-4.19%) declined notably. Meanwhile, game stocks like Wemade (1.87%), Pearl Abyss (0.40%), and Kakao Games (0.81%) showed slight increases.

Earlier, Seo Sang-young, a researcher at Mirae Asset Securities, said before the market opened, "Concerns about economic slowdown in China and the U.S. were largely reflected yesterday, so the impact on the Korean stock market is limited," adding, "The Korean stock market is expected to show strength after a slight rise, centered on semiconductor-related stocks with high expectations for earnings improvement."

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