KOSPI Falls Over 1%... Breaks Below 2600 Level

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The KOSPI index fell by over 1%, dropping below the 2600 mark.

On the 22nd, the KOSPI index closed at 2570.7, down 34.22 points (1.31%) from the previous day. Trading volume was 337.43 million shares, and the trading value was tentatively estimated at 8.7537 trillion KRW.

The New York stock market the previous day showed a pause ahead of major companies' earnings announcements, including big tech, closing mixed due to a sharp rise in the 10-year US Treasury yield and profit-taking. Influenced by this, the KOSPI index started slightly lower and widened its losses during the session, pressured by net selling from institutions and foreigners.

By investor type, institutions and foreigners net sold 307.6 billion KRW and 295.2 billion KRW respectively, while individuals net bought 581.7 billion KRW. Program trading saw net selling of 54.7 billion KRW in arbitrage trading and 147.2 billion KRW in non-arbitrage trading.

Most sectors declined. The pharmaceuticals sector dropped 2.62%, medical precision -2.59%, chemicals -2.26%, electrical and electronics -2.1%, steel and metals -1.95%, manufacturing -1.84%, construction -1.74%, services -1.69%, machinery -1.33%, transportation and warehousing -1.0%, paper and wood -0.72%, non-metallic minerals -0.68%, food and beverages -0.51%, and transportation equipment -0.51% all showed weakness. In contrast, telecommunications rose 1.99%, electric and gas utilities 1.86%, and insurance 1.45%, closing strong.

Among the top market capitalization stocks, more fell than rose. Samsung Electronics dropped 2.2%, SK Hynix -1.62%, LG Energy Solution -2.05%, Samsung Biologics -2.93%, Hyundai Motor -1.05%, Celltrion -2.19%, Kia -2.63%, and NAVER -3.17% declined. Meanwhile, KB Financial rose 0.64%, and Shinhan Financial Group closed slightly up by 0.36%.

The KOSDAQ index also recorded a decline exceeding 2%. It closed at 738.34, down 21.61 points (2.84%) from the previous day. By investor type, institutions and foreigners net sold 141.5 billion KRW and 156.8 billion KRW respectively, while individuals net bought 303.9 billion KRW.

Most of the top market capitalization stocks fell. Alteogen dropped 3.52%, EcoPro BM -4.97%, EcoPro -4.98%, HLB -2.26%, Classys -9.37%, Enchem -5.17%, Hugel -2.44%, Samchundang Pharm -0.22%, Lino Industrial -3.49%, Celltrion Pharm -3.52%, and Rainbow Robotics -4.05% declined. Ligacombio closed flat.

Meanwhile, at this time, the KRW/USD exchange rate in the Seoul foreign exchange market is trading unchanged at 1378.8 KRW.

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