KOSPI Starts Weak Due to Ex-Dividend Day Impact... Fluctuates Around 3000 Level

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] The KOSPI opened lower on the 29th due to the ex-dividend effect. However, the volatility has been limited compared to the securities industry's forecast of a decline in the 1% range.

As of 9:08 a.m. that day, the KOSPI stood at 3,002.66, down 17.58 points (-0.58%) from the previous day. The index opened at 3,002.90, down 17.34 points (0.57%) from the previous session.

By investor type, individual investors showed strong buying momentum. Individuals net bought 416.3 billion KRW, appearing to have stopped their recent large-scale selling streak. Foreigners and institutions both sold, with net sales of 70.6 billion KRW and 354.5 billion KRW, respectively.

Earlier, the securities industry predicted that the KOSPI would fall by about 1% on the ex-dividend day. The cash dividend-adjusted KOSPI index for this year was estimated at 2,978.21, which is 42.03 points (1.39%) lower than the closing price of 3,020.24 on the day before the ex-dividend date, the 28th. This means that even if the KOSPI falls by 42.03 points, it is not a real loss.

Among the top market capitalization stocks, the performance was mixed. Samsung Electronics (-0.37%) and SK Hynix (-0.39%) declined. On the other hand, NAVER (0.26%), Samsung Biologics (0.11%), Kakao (2.64%), and Samsung SDI (2.00%) rose.

At the same time, the KOSDAQ was at 1,030.57, up 3.13 points (0.30%) from the previous day. The index opened at 1,028.46, up 1.02 points (0.10%) from the previous session.

By investor type, similar to the KOSPI, individuals net bought 115.4 billion KRW. Foreigners and institutions net sold 67.6 billion KRW and 51.2 billion KRW, respectively.

Among the top 10 market capitalization stocks, Celltrion Healthcare (-3.11%), EcoPro BM (-1.68%), and L&F (-0.45%) declined. Meanwhile, Pearl Abyss (0.21%), Kakao Games (0.32%), and Wemade (1.30%) rose.

Sang-young Seo, a researcher at Mirae Asset Securities, said, "The Korean stock market is expected to start with a decline of around 1% today," adding, "Subsequently, profit-taking and a rebound buying due to an optical illusion are expected to collide, increasing volatility."

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