Concerns Over Prolonged High US Interest Rates... KOSPI Falls Below 2500 Level
The KOSPI opened lower. It appears to have been influenced by the Federal Reserve's (Fed) indication of additional interest rate hikes.
As of 9:37 a.m. on the 22nd, the KOSPI recorded 2,490.83, down 24.14 points (0.96%) from the previous trading day.
The decline in the KOSPI is due to concerns over the prolonged high interest rates in the U.S. The Fed's so-called 'hawkish pause,' signaling additional rate hikes, had an impact.
On the 21st (local time) at the New York Stock Exchange (NYSE), the Dow Jones Industrial Average closed at 34,070.42, down 370.46 points (1.08%) from the previous trading day. The S&P 500, centered on large-cap stocks, recorded 4,330.00, down 72.20 points (1.64%). The Nasdaq, focused on technology stocks, closed at 13,223.99, down 245.14 points (1.82%).
By investor type, foreigners and institutions sold net amounts of 37.9 billion KRW and 42.3 billion KRW, respectively. In contrast, individuals bought a net amount of 77.5 billion KRW.
Most sectors are declining, with transportation and warehousing down 2.15%, and transportation equipment, chemicals, and textiles/apparel falling more than 1%. Meanwhile, insurance and machinery showed slight gains.
Among the top market capitalization stocks, Samsung Electronics traded at 68,400 KRW, down 5,000 KRW (0.73%) from the previous trading day. SK Hynix, POSCO Holdings, Hyundai Motor, LG Chem, and POSCO Future M are all down more than 1%. On the other hand, KB Financial showed a slight increase.
The KOSDAQ also recorded 854.66, down 6.02 points (0.70%) from the previous trading day.
By investor type, foreigners bought a net amount of 23.9 billion KRW, while individuals and institutions sold net amounts of 8 billion KRW and 0.6 billion KRW, respectively.
Most sectors are declining. Digital content fell 2.21%, and finance, information devices, general electric/electronics, and broadcasting services all dropped more than 1%. Meanwhile, paper/wood and medical precision instruments showed slight gains.
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Among the top market capitalization stocks, EcoPro BM recorded 275,000 KRW, down 7,000 KRW (2.48%) from the previous trading day. Lunit fell 4.88%, and EcoPro and POSCO DX dropped more than 2%. Additionally, Celltrion Healthcare, JYP Ent., SM, Pearl Abyss, and Celltrion Pharm all declined more than 1%.
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