KOSPI Mixed Start... Negative Factors It Cannot Overcome

KOSPI Starts Upward Then Turns Down
Impact of Russia-Ukraine Situation
Need to Avoid Overly Sensitive Reactions

On the 14th, dealers are working in the Hana Bank dealing room in Euljiro, Seoul. On this day, the KOSPI index opened at 2715.10, down 32.61 points (1.19%) from the previous trading day. Photo by Moon Honam munonam@

[Asia Economy Reporter Junho Hwang] On the 15th, the stock market started mixed. Amid various opinions about the possibility of war between Russia and Ukraine and the US interest rate hike, the market, which initially rose, soon turned downward.

On the 15th, the KOSPI opened at 2712.45, up 7.97 points (0.29%) from the previous session. It seemed to be recovering from the previous day's decline but soon fell, recording 2696.29, down 8.19 points (0.30%) as of 9:08 AM. It retreated back to the 2600 level for the first time in 9 trading days.

Individual investors, who had realized profits the previous day, appeared to be buying at lower prices today, continuing net purchases worth 58.1 billion KRW. Meanwhile, foreigners and institutions showed net selling intentions of 49 billion KRW and 10.3 billion KRW, respectively.

Among all stocks, 285 stocks rose. Among the top market cap stocks, Samsung Electronics, the unchanging KOSPI leader, remained steady at 73,700 KRW, while SK Hynix, in the same semiconductor sector, showed a decline of 2.64%. LG Energy Solution, the second largest by market cap, continued its downward trend (0.65%) as on the previous day, whereas LG Chem, which spun off LG Energy Solution, traded up 4.04% at 644,000 KRW.

By sector, the service industry showed notable strength (0.90%). Krafton (2.80%), Samsung Publishing (2.25%), Kakao (2.03%), and NCSoft (1.96%) all showed upward trends. Besides services, transportation equipment, warehousing, chemicals, and telecommunications sectors also showed slight gains.

No stocks hit the upper price limit early in the session. However, Hyosung O&B, belonging to the eco-friendly pest control group including Jongmyo, fertilizers, and pesticides, saw its stock price jump over 27%.

The KOSDAQ also opened up 2.83 points (0.33%) at 855.62 but is showing mixed trends. As of now, it is down 1.94 points at 850.85. Individuals and institutions are net buying 19.5 billion KRW and 2.7 billion KRW respectively, while foreigners are net selling 20.9 billion KRW.

Although the index is declining, capital inflow looks better than the previous day. The number of rising stocks has significantly increased compared to the previous day. Currently, 507 stocks are showing gains. Among the top market cap stocks, game stocks such as Pearl Abyss (3.05%), Kakao Games (1.44%), and Wemade (1.65%) stand out. Among sectors, digital (2.54%), including game stocks, as well as food, beverage & tobacco, broadcasting services, and metals show slight gains.

Han Ji-young, a researcher at Kiwoom Securities, said, "The domestic stock market is expected to attempt a rebound, supported by the perception that the previous day's drop was excessive and the calming of the US stock market plunge." However, she added, "Since it is the latter part of the earnings season, the market's focus is expected to concentrate on the geopolitical tension risk between Russia and Ukraine, which is frequently reported, but as various noises such as false reports are occurring, it is necessary to avoid overly sensitive reactions."

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