Top Market Cap Leader's Tightening Declaration... KOSPI Downtrend Continues

Highlighting Possibility of Economic Recession
Risk Asset Investment Sentiment Shrinks

[Image source=Yonhap News]

[Asia Economy Reporter Minji Lee] The KOSPI continues its downward trend. The KOSDAQ index started off lower but soon turned upward.

As of 11:22 a.m. on the 19th, the KOSPI stood at 2,349.29, down 0.25% (6.03 points) from the previous trading day. The KOSPI opened the day at 2,367.52, down 0.33% (7.73 points) from the previous day, and has maintained its decline. In the market, individual investors are the sole buyers of stocks. Individuals purchased stocks worth 126.1 billion KRW alone, while foreigners and institutions sold stocks worth 27.8 billion KRW and 103.6 billion KRW, respectively.

Apple’s reduction in employment due to concerns over an economic slowdown acted as a catalyst for the index’s decline. Market sentiment cooled amid fears of an economic downturn. Jeonghoon Seo, a researcher at Samsung Securities, said, “News that the world’s largest company by market capitalization is preparing for an economic downturn reminded investors of the possibility of a recession,” adding, “The rise in U.S. Treasury yields, driven by oil prices surpassing the $100 mark again, also weighed on the stock market.”

By sector, textiles and apparel (1.28%), pharmaceuticals (1.16%), non-metallic minerals (1.13%), and transportation equipment (1.14%) showed the largest gains. With the increase in COVID-19 cases, Shinpung Pharmaceutical (14.7%), Orient Bio (6.8%), and Ildong Holdings (4.2%) continued their upward momentum. On the other hand, LG Innotek, a parts supplier related to Apple’s tightening management, fell 5.51%, and BH also dropped 4.31%.

Among the top market capitalization stocks, Samsung Electronics fell 1.94% and SK Hynix declined 1.27% compared to the previous day. Additionally, LG Energy Solution (-1.27%) and NAVER (-1.62%) decreased, while Samsung Biologics (1.48%), Hyundai Motor (0.81%), Samsung SDI (0.92%), LG Chem (1.36%), and Kia (1.50%) rose.

The KOSDAQ index stood at 780.36, up 0.47% (3.64 points) from the previous trading day at the same time. The KOSDAQ opened at 773.73, down 0.38% (2.99 points) from the previous day, but then turned upward. In the market, individuals and institutions purchased stocks worth 42.7 billion KRW and 5.4 billion KRW, respectively, while foreigners sold stocks worth 39.3 billion KRW alone.

Among the top market capitalization stocks, Celltrion Healthcare (0.72%), EcoPro BM (0.46%), L&F (2%), HLB (0.12%), Kakao Games (1.4%), Celltrion Pharm (1.29%), Alteogen (4.85%), Seegene (0.11%), and Chunbo (2.11%) rose, while Pearl Abyss (-0.19%) declined.

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