Domestic Stock Market Mixed in the Afternoon... 'Decline' in Kosdaq 900 Battle

[Image source=Yonhap News]

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market showed mixed trends on the afternoon of the 10th. The KOSPI, which foreign investors have been net buying for two consecutive days, showed a slight upward trend, but the KOSDAQ index, which turned downward early in the session, is fiercely contesting the 900 level.

As of 1:30 PM, the KOSPI was at 2,755.09, up 6.24 points (0.23%) from the previous day. The index started the day with a slight rise, then fell during the session, but maintained its upward momentum as foreign investors increased their buying.

On this day, foreign investors were net buyers of 335.3 billion KRW, preventing the index from falling. In contrast, institutions were net sellers of 252.7 billion KRW, and individuals were net sellers of 38.6 billion KRW.

There are more declining stocks (534) than advancing stocks (528). Among the large-cap stocks, LG Energy Solution fell more than 6%, contributing to the KOSPI's decline. In fact, the KOSPI200 index, which has not yet included LG Energy Solution, rose 0.95%, exceeding the KOSPI's gain. LG Chem has shown solid performance even after the spin-off of LG Energy Solution, rising 7.70%.

Also, SK Hynix (2.78%) and Samsung Electronics (0.94%) rose following the previous day's increase in U.S. semiconductor stocks. Samsung SDI remained steady at 566,000 KRW.

Jung Yong-taek, head of the investment strategy team at IBK Investment & Securities, said, "The market rose slightly early in the session due to the drop in the U.S. 10-year Treasury yield," adding, "It is currently earnings season, but domestic companies' earnings are not good, and there are lingering uncertainties, so the market is not strongly rebounding."

The KOSDAQ index traded at 899.78, down 10.75 points (1.18%). Individuals were net buyers of 389.2 billion KRW, while foreign investors and institutions were net sellers of 255.3 billion KRW and 137.1 billion KRW, respectively.

While Celltrion Healthcare (0.62%) and HLB (0.47%) showed slight gains, most of the top market cap stocks on KOSDAQ were weak. In particular, WiMAiD fell sharply by 22.62% amid analysis that its game sales excluding cryptocurrency last year were effectively an 'earnings shock.'

Additionally, EcoPro BM (-3.49%), Kakao Games (-4.85%), and CJ ENM (-3.33%) also showed significant declines. On this day, 960 stocks on the KOSDAQ market declined, indicating a cold market sentiment.

The market is analyzed to be in a cautious stance ahead of the U.S. Consumer Price Index (CPI) announcement. Seo Sang-young, a researcher at Mirae Asset Securities, said, "Factors driving the U.S. stock market up, such as with-COVID policies and the stabilization of lower Treasury yields, were partially reflected in the Korean stock market yesterday," adding, "With the U.S. CPI announcement upcoming, the market is showing a cautious stance."

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