KOSPI Falls to 2560 Level, Then Recovers Losses

by Lee Jungyun

Published 12 May.2022 10:15(KST)

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] The KOSPI, which had fallen to the 2560 level, is recovering its losses on the morning of the 12th.

As of 10:47 a.m. that day, the KOSPI index stood at 2,583.21, down 9.06 points (0.35%) from the previous day. The KOSPI index opened at 2,569.50, down 22.77 points (0.88%) from the previous day, and dropped to 2,562.51 but has been gradually recovering. Individuals and foreigners made net purchases worth approximately 111.7 billion KRW and 20.6 billion KRW respectively, defending the index, while institutions made net sales of about 135.3 billion KRW.

Among the top market capitalization stocks, LG Energy Solution rose 0.64%, and Samsung Biologics increased 0.25%. On the other hand, Kakao (-3.28%), Naver (-1.97%), LG Chem (-1.92%), Samsung SDI (-1.54%), and Samsung Electronics (-0.61%) showed weakness.

By sector, the medical precision sector rose 2.29%, showing the largest increase. Insurance, which had fallen more than 2% the previous day, rose 2.11%. Banks (-1.65%), services (-1.62%), and chemicals (-1.24%) were in decline.

At the same time, the KOSDAQ is also reducing its losses. It fell to 848.58 around 9:17 a.m. that day but recorded 855.69, down 10.65 points (1.23%) from the previous trading day. Individuals made net purchases worth about 157.9 billion KRW, while foreigners and institutions made net sales of 85.1 billion KRW and 70.5 billion KRW respectively.

Among the top market capitalization stocks, HLB, which rose 7.27% the previous day, showed the only strength by rising 17.42% that day. On the 6th, HLB announced that its U.S. subsidiary Elevate's ovarian cancer treatment drug Apilia, for which it holds global rights, was listed on a German pharmaceutical distribution specialized website and sales had begun. The recently acquired non-clinical CRO (Contract Research Organization) company Notus announced a large-scale free capital increase to enhance shareholder value and trading liquidity.