Shockwave from US Stock Market Crash... Turmoil in KOSPI and KOSDAQ

KOSPI 2600 Level Also Precarious
Most Top Market Cap Stocks Decline
Pearl Abyss Plummets 11%...Concerns Over Weak China Sales

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI and KOSDAQ indices are experiencing a sharp decline of over 2%. This is analyzed to be a chain reaction influenced by the U.S. stock market's significant drop due to concerns over a slowdown in economic recession and earnings instability among big tech companies.

As of 9:21 AM on the 27th, the KOSPI stood at 2,619.70, down 1.82% (48.60 points) from the previous trading day. The index opened the day at 2,630.58, down 1.41% (37.73 points) from the previous day. At this time, individual investors bought stocks worth 135.4 billion KRW alone, while foreigners and institutions sold stocks worth 24.8 billion KRW and 100.7 billion KRW, respectively.

Looking at the top market capitalization stocks, most are in the red. Samsung Electronics again hit a new low; at this time, the company was trading down 1.51% at 65,100 KRW. Following Tesla's plunge, the decline was even greater among secondary battery-related companies. LG Energy Solution fell 4.72%, and Samsung SDI (-2.75%) and SK Innovation (-2.79%) also dropped sharply.

Other stocks such as SK Hynix (-2.25%), Samsung Biologics (-1.49%), NAVER (-2.26%), and Kakao (-2%) declined, while Hyundai Motor (0.00%) and Kia (0.24%), which posted strong earnings, showed resilience.

At the same time, the KOSDAQ index stood at 891.81, down 2.12% (19.35 points) from the previous trading day. The index opened at 898.02, down 1.44% (13.14 points) from the previous day. Currently, in the stock market, foreigners and individuals bought stocks worth 15.9 billion KRW and 5.4 billion KRW respectively, while institutions alone sold stocks worth 18.3 billion KRW.

All top market capitalization stocks are sharply down. EcoPro BM fell 3.75%, and Celltrion Healthcare (-0.49%), L&F (-3.22%), Kakao Games (-3.55%), HLB (-2.49%), Lino Industrial (-1.52%), Chunbo (-2.21%), and CJ ENM (-2.47%) also declined. Pearl Abyss dropped about 11% right after the market opened, reportedly due to poor initial sales performance of the Chinese version of Black Desert Mobile.

Han Ji-young, a researcher at Kiwoom Securities, explained, “The negative factors from China are stirring market anxiety from a macro perspective, creating a difficult stock market environment to respond to. Since it is the first quarter earnings season for domestic companies, the extent of stock price adjustments will vary depending on individual stock issues.”

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