KOSPI Starts Flat... Ecopro Drops Over 5%
On the 12th, the KOSPI opened flat.
As of 9:10 AM that day, the KOSPI index was at 2,553.90, up 6.04 points (0.24%) from the previous trading day. It started with a slight decline at the opening but quickly turned upward.
In the securities market, individual investors and foreigners were net buyers of 72.4 billion KRW and 28.2 billion KRW respectively, while institutions were net sellers of 97.2 billion KRW.
The top market capitalization groups were also generally flat. Samsung Electronics was trading down 0.30% at 65,700 KRW, and LG Energy Solution was down 0.49% at 607,000 KRW. However, Hyundai Motor, which announced a large-scale investment plan the previous day, was up 2.71% at 197,300 KRW, and POSCO Holdings showed a significant rise of 6.05% to 421,000 KRW.
Han Ji-young, a researcher at Kiwoom Securities, said, "Since the KOSPI surpassed the 200-day moving average (around 2,520 points) that it had not been able to break through previously, technical upward momentum is expected to continue today." However, she added, "Considering the technical and profit-taking selling pressure that may appear during the attempt to stabilize above the 200-day moving average, as well as cautious sentiment ahead of the U.S. March Consumer Price Index (CPI) announcement scheduled for the evening, the overall upward momentum of the index is expected to be limited."
At the same time, the KOSDAQ index was trading at 898.48, down 0.46 points (0.05%) from the previous session. Individual investors were net sellers of 60.8 billion KRW, while foreigners and institutions were net buyers of 29.6 billion KRW and 24.7 billion KRW respectively.
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Among the top market capitalization groups in KOSDAQ, EcoPro BM was taking a breather, trading up 0.68% at 296,500 KRW. In contrast, EcoPro was down 5.33% at 728,000 KRW. A researcher advised, "There are conflicting forecasts regarding 'concentration' or 'withdrawal' of supply and demand for secondary battery stocks such as EcoPro, which have been experiencing consecutive rallies," and recommended "preparing for increased price volatility."
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