KOSPI and KOSDAQ Extend Declines... Fall Over 1% Amid Foreign Selling Pressure

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Following the simultaneous decline of the three major indices in the New York stock market the previous day, the domestic stock market also started slightly lower today and widened its losses during the session, recording a decline of over 1%. The exchange rate surged to the 1,400 won level, intensifying foreign investors' withdrawal.

As of 11:09 AM on the 23rd, the KOSPI index stood at 20,306.77, down 1.10% (25.54 points) from the previous trading day. The index opened at 2,331.33, down 0.04% (0.98 points) from the previous trading day.

By investor type, individual investors were the only ones net buying, purchasing stocks worth 289.2 billion won, while foreign investors and institutions sold stocks worth 215.9 billion won and 81.9 billion won, respectively.

Among the top 10 stocks by market capitalization, Samsung Electronics (0.55%), Hyundai Motor (0.78%), Samsung Electronics Preferred (0.20%), and NAVER (1.45%) recorded gains, whereas LG Energy Solution (-3.79%), SK Hynix (-1.98%), Samsung Biologics (-1.27%), LG Chem (-2.08%), Samsung SDI (-2.38%), and Kia (-0.51%) were on the decline.

By sector, insurance (1.58%), steel and metals (1.04%), and telecommunications (0.19%) were rising, while chemicals (-2.88%), transportation and warehousing (-2.64%), medical precision (-2.55%), machinery (-2.21%), construction (-2.12%), textiles and apparel (-2.10%), and non-metallic minerals (-2.04%) were falling.

At the same time, the KOSDAQ index was at 739.32, down 1.61% (12.09 points) from the previous trading day. The index opened at 749.87, down 0.20% (1.54 points) from the previous session.

By investor type, individual investors were again the sole net buyers, purchasing stocks worth 215.5 billion won, while foreign investors and institutions were net sellers of 198.4 billion won and 10.8 billion won, respectively.

Among the top 10 KOSDAQ stocks by market capitalization, all stocks except HLB (3.63%) and JYP Entertainment (0.33%) were declining. These include Celltrion Healthcare (-2.15%), EcoPro BM (-5.19%), L&F (-4.58%), Kakao Games (-2.05%), Pearl Abyss (-2.37%), EcoPro (-3.22%), Celltrion Pharm (-2.76%), and Alteogen (-3.33%).

By sector, transportation equipment (0.72%) and publishing and broadcasting (0.33%) were rising, while general electric and electronics (-3.76%), paper and wood (-3.20%), food and tobacco (-2.85%), telecommunication services (-2.47%), digital content (-2.44%), IT components (-2.39%), and chemicals (-2.03%) were falling.

Han Ji-young, a researcher at Kiwoom Securities, analyzed, "Currently, major countries' stock markets including the KOSPI are facing a situation where they are testing the yearly lows recorded in early July, as they consecutively face shocks from the August CPI and the September FOMC. Accordingly, our stock market is inevitably under bearish pressure, and movements in the foreign exchange market will influence stock market volatility."

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