KOSPI Starts Slightly Lower... Samsung Electronics and Hynix Both Fall Over 1%

by Son Seonhee

Published 03 Apr.2023 09:22(KST)

On the 3rd, the KOSPI opened slightly lower.

As of 9:10 a.m. that day, the KOSPI index stood at 2,461.12, down 5.74 points (0.23%) from the previous session. The KOSPI initially rose slightly after the opening but soon turned downward. Individual investors were net buyers with 243.9 billion KRW, while foreigners and institutions were net sellers of 97.2 billion KRW and 140.6 billion KRW, respectively.

Top market capitalization stocks all showed a decline. Samsung Electronics, the KOSPI leader, was trading at 63,200 KRW, down 1.25% from the previous trading day. LG Energy Solution also fell 0.86% to 579,000 KRW, and SK Hynix dropped 1.24% to 87,500 KRW.

Secondary battery-related stocks such as Samsung SDI (0.14%) and LG Chem (0.28%) showed slight gains. POSCO Holdings was strong in early trading, rising 7.07% to 26,000 KRW compared to the previous session.

Kiwoom Securities Research Center analyzed that the market has entered a "performance and fundamentals-driven phase." They forecast the weekly KOSPI index to move between 2,430 and 2,530.

Han Ji-young, a researcher at Kiwoom Securities, explained, "The Korean stock market is expected to be influenced by economic indicators such as the U.S. March Manufacturing Purchasing Managers' Index (PMI) and non-farm payrolls, remarks from Federal Reserve officials including James Bullard, the St. Louis Fed President, the weak March domestic export figures announced over the weekend, the detailed regulations of the U.S. Inflation Reduction Act (IRA), and Samsung Electronics' preliminary earnings results."

At the same time, the KOSDAQ index was trading at 849.51, up 1.99 points (0.23%) from the previous session. Individual investors were net buyers with 145.5 billion KRW, while foreigners and institutions were net sellers of 94.6 billion KRW and 47.3 billion KRW, respectively.