KOSPI and KOSDAQ Narrow Losses and Hold Ground... Fear of Soaring Energy and Commodity Prices Eases

Germany's Passive Stance on Russian Crude Export Sanctions
US Considers Independent Sanctions... Efforts to Stabilize Oil Prices
International Oil and Gold Prices Slightly Decline
Russia-Ukraine 4th Negotiation Possibly on 8th
Market Cautious as Fear Slightly Eases

On the 8th, KOSPI opened at 2,617.33, down 33.98 points (1.28%) from the previous trading day, as dealers were working in the dealing room of Hana Bank in Jung-gu, Seoul. On the same day, the won-dollar exchange rate surpassed 1,230 won intraday for the first time in 1 year and 9 months. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Hwang Yoon-joo] The KOSPI and KOSDAQ indices are holding up by reducing their morning losses. The KOSPI is safely defending the 2600 level, while the KOSDAQ is eyeing a rebound. Contrary to expectations that the US and Europe would jointly impose sanctions on Russian crude oil exports, Germany's withdrawal appears to have somewhat eased the fear in investor sentiment caused by the surge in energy prices.

As of 10:49 AM on the 8th, the KOSPI is at 2639.44, down 0.45% (11.87 points) from the previous trading day. The KOSPI opened at 2617.33, down 1.28% (33.98 points) from the previous day, but narrowed its losses throughout the morning, rising to 2646.98.

Looking at investor trends, foreigners and institutions are net selling 241.4 billion KRW and 36.6 billion KRW respectively. On the other hand, individuals are net buying alone with 267.4 billion KRW.

By sector, the medical precision industry and steel & metals are showing the largest declines at -3.24%. Construction (-2.61%), machinery (-2.43%), non-metallic minerals (-1.77%), food & beverages (-1.84%), electricity & gas (-1.71%), insurance (-1.25%), and securities (-1.21%) are leading the declines.

Among the top market capitalization stocks, Samsung Electronics fell to 69,000 KRW right after the opening but narrowed its losses to 69,700 KRW (-0.57%). LG Energy Solution (-0.24%), SK Hynix (unchanged 0.00%), Samsung Biologics (+0.39%), Naver (+0.16%), Kakao (+1.75%), Hyundai Motor (+0.60%), LG Chem (-0.97%), Samsung SDI (-2.25%), and Kia (-0.98%) contrast with their all declining trends right after the opening.

The KOSDAQ index is at 880.99, down 0.06% (0.55 points) from the previous trading day. The index opened at 869.05, down 1.42% (12.49 points) from the previous day. Afterwards, it narrowed its losses to 881.30, down 0.03% (0.24 points), attempting a rebound.

Looking at investor trends, foreigners and institutions are selling 30 billion KRW and 33.6 billion KRW respectively. Individuals are buying 63.2 billion KRW.

By sector, general electric & electronics (-2.32%), non-metallic (-1.75%), construction (-1.87%), IT parts (-1.42%), and food, beverages & tobacco (-1.44%) are among the top decliners.

Among the top 10 market capitalization stocks, Celltrion Healthcare (+1.86%), EcoPro BM (-4.20%), Pearl Abyss (+5.26%), L&F (-2.92%), Kakao Games (+0.85%), Celltrion Pharm (+2.53%), Wemade (+0.20%), HLB (-1.36%), Chunbo (-0.11%), and Seegene (+1.33%) show mixed movements.

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