"Due to Weakness in US Tech Stocks"... KOSPI and KOSDAQ Close Lower

On the 3rd, the domestic index closed lower as big tech stocks, including Apple, struggled in the US stock market.

On this day, the KOSPI index closed at 2607.31, down 62.50 points (-2.34%) from the previous session. The index opened at 2643.54, down 26.27 points (0.98%), and the decline widened. Foreign investors and institutions sold net amounts of 97.1 billion KRW and 1.2176 trillion KRW, respectively. Meanwhile, individual investors bought 130.7 billion KRW worth of shares.

Donggil Noh, a research fellow at Shinhan Investment Corp., said, "On the 2nd (local time), the US stock market was weak due to a rebound in treasury yields, declines in big tech stocks, and an expanded drop in the Nasdaq." He added, "Domestically, large-cap stocks including semiconductors led the index downward, widening the decline, and foreign investors heavily sold futures. Samsung Electronics and SK Hynix in the KOSPI also fell due to the impact of China's semiconductor export restrictions on ASML."

Research analysts Joonki Cho and Jaehyun Kang of SK Securities explained, "Foreign investors net sold nearly 1.7 trillion KRW in the KOSPI futures market in just one day. Institutions responded by selling spot shares mainly in financial investments while buying futures." They added, "Although the US stock market had a significant impact, the decline in our stock market was larger compared to other Asian countries."

Among the top market capitalization stocks, most declined, including POSCO Future M (-5.68%), Samsung SDI (-4.39%), SK Hynix (-3.93%), Kia (-3.89%), Shinhan Financial Group (-3.68%), Hyundai Mobis (-3.60%), Hyundai Motor (-3.34%), and Samsung Electronics (-3.27%). However, EcoPro BM rose 3.05%.

By sector, electricity and gas utilities (1.64%), medical precision instruments (1.18%), paper and wood products (0.24%), and pharmaceuticals (0.07%) rose. Meanwhile, electrical and electronics (-3.12%), machinery (-2.93%), transportation equipment (-2.85%), and steel and metals (-2.81%) declined.

The KOSDAQ index closed at 871.57, down 7.36 points (-0.84%) from the previous trading day. The index opened at 872.21, down 6.72 points (0.76%), and failed to rebound. Foreign and institutional investors sold net amounts of 88 billion KRW and 226.5 billion KRW, respectively, while individual investors bought 331.6 billion KRW worth of shares.

Research fellow Noh said, "On the KOSDAQ, where individual trading accounts for a high proportion, individual net buying led to a smaller decline compared to the KOSPI. Semiconductors were affected by the decline in US big tech stocks, but healthcare showed strength in line with the US stock market. Related stocks also rose on expectations of Toss's new listing."

Among the top market capitalization stocks, Celltrion Pharm (7.76%), LS Materials (1.75%), and Dongjin Semichem (0.75%) rose. Conversely, most stocks fell, including L&F (-5.55%), Rainbow Robotics (-4.37%), Lino Industrial (-4.25%), EcoPro BM (-4.23%), SM Entertainment (-3.54%), and Lunit (-3.40%).

In the Seoul foreign exchange market on this day, the won-dollar exchange rate closed at 1304.8 won, down 4.4 won from the previous trading day.

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