KOSPI Ends Slightly Lower at 2490 Level... Exchange Rate at 1325 Won Level

by Son Seonhee

Published 07 Dec.2023 15:46(KST)

On the 7th, the KOSPI index closed slightly lower.

On that day, the KOSPI index ended trading at 2,492.07, down 3.31 points (0.13%) from the previous session. Individuals and foreigners were net buyers with 151.2 billion KRW and 36.1 billion KRW respectively, while institutional investors were net sellers with 204.7 billion KRW.

Most of the top market capitalization stocks in the Korea Composite Stock Price Index (KOSPI) market closed within a narrow range. Kia (0.71%), Samsung Biologics (0.57%), and LG Energy Solution (0.47%) showed slight gains, while POSCO Holdings (-1.00%) and LG Chem (-0.53%) closed slightly lower.

Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "The US stock market showed weakness as expectations for interest rate cuts due to slowing employment clashed with concerns about economic slowdown, which dampened overall investor sentiment in Asian markets." He added, "Concerns about economic slowdown also led to international oil prices falling for five consecutive trading days, strengthening safe-haven demand, and the won-dollar exchange rate rose by more than 10 won during the session, intensifying pressure on the won's weakness." He continued, "In the KOSPI, the decline was limited due to strength in secondary battery stocks, while the KOSDAQ continued to show weakness due to foreign selling."

The KOSDAQ index closed at 813.20, down 6.34 points (0.77%) from the previous session. In the KOSDAQ market, individuals were net buyers with 179 billion KRW, while foreigners and institutions were net sellers with 154.4 billion KRW and 2.5 billion KRW respectively.

Most of the top market capitalization stocks in the KOSDAQ market were weak except for Ecopro BM (0.17%). HPSP (-3.32%), HLB (-3.20%), and POSCO DX (-3.15%) closed lower.