Due to Weakness in Semiconductors and Secondary Batteries... KOSPI Ends 8 Consecutive Days of Decline

Due to weakness in major tech stocks such as semiconductors and secondary batteries, the KOSPI index closed lower for the eighth consecutive trading day on the 12th. This marks the longest downward streak in 1 year and 8 months.

Securities company app, stock trading scene. Photo by Hyunmin Kim kimhyun81@

On that day, the KOSPI index closed at 2525.05, down 15.22 points (-0.60%) from the previous session. The index opened at 2643.54, down 26.27 points (0.98%), and widened its losses. Foreign investors and institutions sold net amounts of 211.1 billion KRW and 193.9 billion KRW, respectively. Meanwhile, individual investors purchased 404.5 billion KRW worth of stocks.

Among the top market capitalization stocks, Celltrion (-3.95%), POSCO Future M (-2.64%), EcoPro (-2.62%), LG Chem (-2.29%), Samsung SDI (-2.04%), and Kia (-1.56%) declined in order. Samsung C&T (0.58%) and Samsung Electronics Preferred (0.50%) rose.

By sector, insurance (1.68%), transportation and warehousing (1.55%), distribution (0.42%), and telecommunications (0.29%) increased. Meanwhile, pharmaceuticals (-2.05%), medical precision (-1.89%), securities (-1.44%), and chemicals (-1.34%) sectors declined.

The KOSDAQ index closed at 868.08, down 14.45 points (-1.64%) from the previous trading day. The index opened at 872.21, down 6.72 points (0.76%), and failed to rebound. Foreign investors and institutions sold net amounts of 158.2 billion KRW and 190.6 billion KRW, respectively, while individual investors bought 359.8 billion KRW worth of stocks.

Among the top market capitalization stocks, LS Materials (11.90%), Rainbow Robotics (2.18%), Soulbrain (1.19%), and Alteogen (1.17%) rose. On the other hand, WeMade (-8.83%), SM (-7.45%), L&F (-5.61%), JYP Entertainment (JYP Ent.) (-3.73%), Lunit (-3.27%), Pearl Abyss (-3.15%), EcoPro (-2.62%), and HLB (-2.54%) closed lower.

Researchers Kim Seok-hwan and Park Su-jin from Mirae Asset Securities said, "Both major indices declined. The burden of inflation in the U.S., the sluggish stock price of Tesla, and concerns over shrinking demand for electric vehicles led to increased foreign selling in both spot and futures markets. Shipping stocks were strong. The issue of rising maritime freight rates was reflected due to intensified geopolitical conflicts in the Middle East and uncertainties in trade activities caused by disruptions in Red Sea navigation by China's General Administration of Customs," they explained.

On the same day, the won-dollar exchange rate in the Seoul foreign exchange market closed at 1313.5 won, up 0.6 won from the previous trading day.

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