Impact of US Stock Market Slump... KOSPI and KOSDAQ 'Plunge'

KOSPI Falls to 2260 Level
'Selling' Foreigners and Institutions Apply Downward Pressure

[Asia Economy Reporter Kwangho Lee] On the 29th, the last trading day of the year, the KOSPI and KOSDAQ started off with a sharp decline. The weakness seen in most U.S. stock market stocks directly impacted the domestic market. Both domestic and foreign institutional investors are showing net selling, contributing to the bearish trend.

As of 9:24 AM, the KOSPI is at 2,266.74, down 13.71 points (0.60%) from the previous day. The index opened at 2,265.73, down 14.72 points (0.65%) from the previous close, and has been fluctuating slightly since.

On the 29th, the KOSPI index opened at 2265.73, down 0.65% (14.72 points) from the previous trading day. Dealers are working in the Hana Bank dealing room in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

Institutions and foreigners are exerting downward pressure on the index with net sales of 61.4 billion KRW and 52.5 billion KRW respectively. Meanwhile, individual investors are defending the market by net buying 109.3 billion KRW.

Most of the top market capitalization stocks are declining. Samsung Electronics (-1.41%), Samsung Biologics (-0.72%), SK Hynix (-1.45%), Hyundai Motor (-0.65%), and Kia (-1.15%) are all on the downside. Apple parts suppliers such as LG Innotek (-3.42%) are also showing weakness.

On the other hand, LG Energy Solution (0.92%), Naver (2.50%), and Kakao (2.24%) are on the rise.

Following news that the Chinese National Press and Publication Administration issued game licenses (판호, banho) for seven Korean games for the first time in a year and a half since June last year, game stocks surged sharply. Netmarble (16.57%), NCSoft (4.50%), JoyCity (29.30%), Webzen (7.41%), Wemade (6.25%), Com2uS (3.95%), and Com2uS Holdings (3.72%) all rose together.

By sector, most sectors are falling, but the service sector rose 2.04% due to gains in internet and gaming stocks. Retail (-1.21%), insurance (-1.17%), steel & metals (-1.03%), transportation & warehousing (-0.95%), telecommunications (-0.92%), and textiles & apparel (-0.94%) all showed declines around 1%.

The KOSDAQ index is currently at 690.48, down 1.89 points (0.27%) from the previous close. On the KOSDAQ market, foreigners are net sellers with 56.8 billion KRW. Individuals and institutions are net buyers with 58.6 billion KRW and 1.8 billion KRW respectively.

Among the top market cap stocks, pharmaceutical stocks such as Celltrion Healthcare (-1.15%), HLB (-1.36%), and Celltrion Pharm (-0.89%) are declining, while game stocks like Kakao Games (11.14%) and Pearl Abyss (5.58%) are showing notable gains. Secondary battery-related stocks such as L&F (1.28%), EcoPro BM (0.43%), and EcoPro (0.28%) are also rebounding.

Overnight, the New York stock market closed lower. On the 28th (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average fell sharply by 365.85 points (1.10%) to close at 32,875.71. The S&P 500 dropped 46.03 points (1.20%) to 3,783.22, and the Nasdaq Composite declined 139.94 points (1.35%) to 12,213.29.

Meanwhile, in the Seoul foreign exchange market, the won-dollar exchange rate opened at 1,270.0 won per dollar, up 3.0 won from the previous close.

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