Secondary Battery Stocks Plunge... KOSPI and KOSDAQ Close Lower

The KOSPI and KOSDAQ indices closed lower, weighed down by weakness in secondary battery-related stocks.

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On the 7th, the KOSPI index closed at 2580.71, down 22.09 points (0.85%) from the previous day. The trading volume was 497.09 million shares, and the trading value was tentatively tallied at 11.771 trillion won.

By investor type, institutions sold a net 329.6 billion won, while foreigners and individuals bought net amounts of 282.3 billion won and 28.3 billion won, respectively. Program trading saw net buying of 400 million won in arbitrage trading and 184.3 billion won in non-arbitrage trading.

Starting slightly lower due to last week's weakness in the New York stock market, the KOSPI index rose slightly during the session, supported by foreign buying. However, as secondary battery-related stocks widened their losses, the overall index was negatively affected and eventually closed in a downtrend.

By sector, steel and metals fell 3.99%, chemicals -2.17%, transportation equipment -2.06%, medical precision -1.93%, distribution -1.86%, non-metallic minerals -1.72%, manufacturing -1.35%, and electrical and electronics -1.07%. In contrast, telecommunications rose 2.09%, services 1.97%, paper and wood 1.74%, and food and beverages 1.67% showed strength.

Among the top market capitalization stocks, most secondary battery-related stocks declined. LG Energy Solution fell 4.81%, POSCO Holdings -5.56%, LG Chem -3.30%, Samsung SDI -2.83%, and POSCO Future M -8.64% showed weakness. Meanwhile, Samsung Electronics and SK Hynix rose 0.29% and 1.5%, respectively, and NAVER also increased by 4.92%.

The KOSDAQ index experienced an even larger drop that day. The KOSDAQ index closed at 898.22, down 20.21 points (2.2%) from the previous day. By investor type, institutions and foreigners sold net amounts of 107.3 billion won and 199.7 billion won, respectively, while individuals bought a net 333.9 billion won.

Most of the top market capitalization stocks also showed weakness. EcoPro BM and EcoPro fell 10.64% and 9.2%, respectively, while L&F dropped 7.26% and POSCO DX declined 10.36%. On the other hand, JYP Ent. rose 0.4%, and Pearl Abyss and SM Entertainment showed gains around 1%.

Meanwhile, in the Seoul foreign exchange market that day, the won/dollar exchange rate closed at 1306.2 won, down 3.6 won from the previous day.

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