'Warigari' KOSPI and KOSDAQ... Started Up but Increased Volatility

by Kwon Jaehee

Published 23 Jun.2022 10:55(KST)

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jaehee] The KOSPI index started higher on the previous day, buoyed by Federal Reserve (Fed) Chair Jerome Powell's confidence in the economy, but showed a volatile market due to selling pressure from individual and foreign investors during the session.

As of 10:51 a.m. on the 23rd, the KOSPI index was trading at 2347.83, up 0.21% (5.02 points) from the previous trading day. The index opened at 2347.84, up 0.21% (5.03 points), and fluctuated throughout the session.

By investor type, individuals and foreigners sold net amounts of 334.5 billion KRW and 103.4 billion KRW respectively, while institutions alone bought net 441.9 billion KRW, defending the index.

Among the top 10 stocks by market capitalization, all except LG Energy Solution (-0.25%), SK Hynix (-0.65%), and Samsung Electronics Preferred (-0.19%) were rising. These include Samsung Electronics (0.17%), Samsung Biologics (1.10%), LG Chem (2.17%), NAVER (4.37%), Samsung SDI (1.49%), Hyundai Motor (0.87%), and Kia (1.70%).

By sector, machinery (3.42%), medical precision (2.76%), telecommunications (2.03%), services (1.86%), and pharmaceuticals (1.32%) showed strength. Conversely, steel and metals (-1.54%), construction (-1.18%), transportation and warehousing (-1.16%), and paper and wood (-1.07%) were declining.

At the same time, the KOSDAQ index was at 743.64, down 0.44% (3.32 points) from the previous trading day. The KOSDAQ index opened at 747.49, up 0.07% (0.53 points), but fluctuated during the session, at one point widening the decline to over 1%.

By investor type, individuals sold net 21.9 billion KRW, while foreigners and institutions bought net 33.1 billion KRW and 4.7 billion KRW respectively.

The top 10 KOSDAQ stocks by market capitalization also showed mixed trends. While secondary battery stocks declined, biotech stocks stood out with gains. EcoPro BM (-2.61%), L&F (-3.94%), and Cheonbo (-1.47%) were down, whereas Celltrion Healthcare (3.94%), Celltrion Pharm (2.74%), and Alteogen (10.96%) were rising.

By sector, other services (1.30%), distribution (1.27%), and pharmaceuticals (1.22%) were up, while digital content (-3.88%), IT software (-2.24%), and textiles and apparel (-1.86%) were down.