KOSPI Falls Amid Semiconductor Weakness, Further Pressured by Foreigners' 'Sell'... SK Hynix Down 7%

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[Asia Economy Reporter Myung-hwan Lee] The KOSPI fell to the 2260 level on the 28th due to increased selling by foreign investors and weakness in major semiconductor stocks.

On the day, the KOSPI closed at 2,268.40, down 0.89% (20.38 points) from the previous trading day. The KOSPI opened at 2,276.73, down 0.53% (12.05 points) from the previous day, showed a slight gain in the morning session, but turned downward in the afternoon session.

Foreign investors led the index decline by selling stocks worth 190.2 billion KRW in the KOSPI market. Individual investors also net sold 67.8 billion KRW. Only institutional investors bought stocks worth 251.7 billion KRW. Kim Seok-hwan, a researcher at Mirae Asset Securities, noted, "Due to the poor earnings of U.S. big tech companies such as Alphabet and Meta, investor sentiment remained uneasy, leading to increased selling by foreign investors."

Among individual stocks, the decline in major semiconductor stocks was prominent. SK Hynix closed at 83,400 KRW, down 7.33% (6,600 KRW) from the previous trading day. This is attributed to the Q3 'earnings shock' and the weakness centered on major tech stocks in the U.S. stock market. Samsung Electronics also fell 3.70% (2,200 KRW) to close at 57,300 KRW. Samsung Electronics Preferred shares (-3.56%) also closed lower.

Regarding this, researcher Kim diagnosed, "Concerns have expanded that SK Hynix's earnings shock and the U.S. semiconductor subsidy bill could negatively impact the Asian semiconductor industry outlook."

Additionally, LG Energy Solution, which was rising during the morning session, closed down 1.48%, and Samsung SDI closed at the same price as the previous day at 720,700 KRW, indicating a cooling off in the rise of secondary battery stocks. LG Chem (2.67%), Hyundai Motor (1.23%), and Samsung Biologics (0.34%) rose.

Looking at sector indices, the electrical and electronics sector (-3.11%), which includes semiconductor stocks, showed a large decline. Manufacturing (-1.39%) and steel & metals (-1.27%) also fell. On the other hand, textile & apparel (2.49%), insurance (2.38%), and transportation equipment (2.13%) rose.

The KOSDAQ index closed at 687.63, down 1.07% (7.46 points) from the previous trading day. The KOSDAQ opened at 690.71, down 0.63% (4.38 points), moved sideways in the morning session, but gradually widened its decline in the afternoon.

Institutional investors who were net buyers in the KOSPI sold 104.9 billion KRW in the KOSDAQ. Foreign investors turned to net buying near the close, purchasing 37.3 billion KRW in the KOSDAQ market. Individual investors also net bought 75.2 billion KRW.

In the KOSDAQ market, stocks related to secondary batteries led gains. L&F closed at 224,300 KRW, up 4.57% (9,800 KRW) from the previous day, and EcoPro BM also rose 3.16% (3,500 KRW) to close at 114,400 KRW. Meanwhile, Rino Industrial (-3.17%), Celltrion Healthcare (-1.75%), Pearl Abyss (-1.69%), and EcoPro (-1.68%) declined.

In the KOSDAQ, sector indices such as paper & wood (2.02%), general electrical & electronics (1.20%), and IT components (0.78%) rose. Publishing & media duplication (-4.98%), digital content (-4.35%), and semiconductors (-3.47%) showed significant declines.

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