KOSPI Opens Lower on Foreign and Institutional Selling... KOSDAQ Also Weak

KOSPI and KOSDAQ Both Decline
KOSPI Weighed Down by Weakness in Electrical & Electronics, Medical Precision Devices, and IT Services

The KOSPI index showed weakness in early trading on September 1, amid selling pressure from foreign investors and institutions.

As of 9:24 a.m. on this day, the KOSPI index was trading at 3,161.01, down 25.00 points (0.78%) from the previous day. The index opened at 3,164.58, a decrease of 21.43 points (0.67%). Foreign investors sold 65 billion won worth of shares, and institutions sold 56.8 billion won worth. Meanwhile, individual investors bought 117 billion won worth of shares.

Among large-cap stocks, Hanwha Aerospace (up 4.07%), Hanwha Ocean (up 3.48%), HD Korea Shipbuilding & Offshore Engineering (up 3.20%), Kia (up 1.04%), Hyundai Mobis (up 0.94%), and Hyundai Motor (up 0.91%) saw gains. In contrast, SK Hynix (down 3.72%), Kakao (down 3.36%), Samsung Electronics (down 2.30%), Samsung Electronics Preferred (down 1.41%), Naver (down 1.40%), and Samsung C&T (down 1.31%) declined.

Employees are working in the dealing room at the Hana Bank headquarters in Jung-gu, Seoul, on the 1st. Photo by Yonhap News

By sector, transportation equipment and parts (up 1.48%), utilities (up 0.75%), and food, beverage, and tobacco (up 0.46%) advanced. On the other hand, electrical and electronics (down 2.29%), medical precision devices (down 1.68%), IT services (down 1.47%), chemicals (down 1.28%), and manufacturing (down 1.03%) showed declines.

The KOSDAQ index was also down, recording 790.98 as of the same time, a decrease of 5.93 points (0.74%) from the previous day. The index started at 795.30, down 1.61 points (0.20%), and continued to widen its losses. Foreign investors sold 36.7 billion won worth of shares. Individual investors and institutions bought 30.6 billion won and 6.7 billion won worth of shares, respectively.

Among leading KOSDAQ stocks, Alteogen (up 3.88%), HLB (up 2.25%), JYP Entertainment (up 2.20%), and SM Entertainment (up 1.37%) rose. Meanwhile, EO Technics (down 4.55%), Silicon Two (down 3.45%), Caregen (down 1.80%), Peptron (down 1.78%), PharmaResearch (down 1.62%), Lino Industrial (down 1.60%), and Ligachem Bio (down 1.42%) declined.

Meanwhile, on August 29 (local time), all three major indices on the New York Stock Exchange closed lower. The Dow Jones Industrial Average ended at 45,544.88, down 92.02 points (0.20%) from the previous session. The S&P 500 fell 41.60 points (0.64%) to close at 6,460.26, and the Nasdaq Composite dropped 249.61 points (1.15%) to finish at 21,455.55. Technology stocks declined as concerns grew over reduced demand for U.S. AI chips following news that Chinese e-commerce giant Alibaba had developed its own next-generation artificial intelligence (AI) chip. Shares of Nvidia and Broadcom each fell by more than 3%.

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