KOSPI and KOSDAQ Start Lower... Volatile Market Conditions

by Hwang Yoonju

Published 17 May.2023 09:21(KST)

[Image source=Yonhap News]

On the 17th, the KOSPI and KOSDAQ opened lower. The KOSPI showed high volatility, fluctuating between gains and losses. The KOSDAQ turned to an upward trend. This is interpreted as being influenced by growing concerns over economic slowdown in real economy indicators amid difficulties in the US debt ceiling negotiations.

As of 9:05 AM, the KOSPI is trading at 2478.36, down 0.08% (1.88 points) from the previous day. The KOSPI started the day at 2479.65, down 0.02% (0.59 points) from the previous close.

Individuals and institutions are net sellers of 55.7 billion KRW and 16.9 billion KRW respectively. Meanwhile, foreigners are the sole net buyers with 74.3 billion KRW. Due to strong buying by foreigners, the KOSPI turned to an upward trend immediately after the opening but soon shifted back to a downward trend. In the futures market, individuals and institutions are selling 2 billion KRW and 31.5 billion KRW respectively, while foreigners are buying 14.4 billion KRW alone.

The top 10 stocks by market capitalization show mixed trends. LG Energy Solution is down 0.74%, Samsung Biologics down 0.51%, and POSCO Holdings down 0.54%. Samsung Electronics is up 0.15%, SK Hynix up 0.55%, Samsung SDI up 0.75%, Hyundai Motor up 0.49%, and Kia up 1.37%. Meanwhile, LG Chem and NAVER are unchanged.

As of 9:12 AM, the KOSDAQ is at 818.88, down 2.13% (0.26 points) from the previous day. The KOSDAQ started at 815.58, down 0.14% (1.17 points). Foreigners and institutions are net sellers of 7.4 billion KRW and 10 billion KRW respectively, while individuals are the sole net buyers with 16.1 billion KRW.

The top 10 stocks by market capitalization on the KOSDAQ are mostly rising. Only EcoPro BM is down 1.09%, EcoPro down 0.36%, and Osstem Implant down 0.16%. L&F and HLB are up 1.19% and 1.87% respectively.