KOSPI Falls for the First Time in 5 Trading Days... Maintains 2500 Level
Published 13 Apr.2023 09:30(KST)
Most Top Market Cap Companies Show Green Lights
Shift in 2nd Battery Supply to Healthcare Sector
The KOSPI has entered a correction phase. It is showing a red light for the first time in 5 trading days. Foreign and institutional investors are selling off in unison at the start of the session.
As of 9:14 a.m. on the 13th, the KOSPI is trading at 2,536.05, down 14.59 points (0.57%) from the previous trading day. The KOSPI opened at 2,534.71, down 15.93 points (0.62%) from the previous day. During the session, the index fell as much as 18.65 points (0.73%) to 2,531.99.
The KOSPI had risen 1.27% on the 7th and continued to rise for four consecutive trading days, recovering the 2,550 level on the 12th. In the KOSPI market, foreigners and institutions have sold 20.4 billion KRW and 1.8 billion KRW worth of stocks, respectively. Foreigners have turned to net selling for the first time in 5 trading days. Meanwhile, individuals are buying stocks worth 23.3 billion KRW.
Most of the top market capitalization companies have lost momentum. Samsung Electronics (-0.30%) is slightly down, and LG Energy Solution is also showing a decline of 2.37%. Samsung SDI is also recording a drop of more than 2%.
By sector, steel and metals (-5.11%) and non-metallic minerals (-4.87%) are falling sharply, followed by medical precision (-1.70%), machinery (-1.76%), and chemicals (-1.57%). On the other hand, pharmaceuticals (1.63%) and transportation and warehousing (0.59%) are on the rise.
The KOSDAQ index is trading at 875.88, down 14.74 points (1.66%) at the same time. By sector, other manufacturing and general electronics are up by over 4%, and entertainment and culture are up by over 1%. Financials are down by over 4%, while IT hardware, paper and wood, chemicals, and metals are down by 1-2%.
Among the top market cap stocks, EcoPro BM and EcoPro are sharply down by over 7% following the previous day. This is interpreted as a result of consecutive sell reports recently issued by securities firms. As demand that had been concentrated in secondary batteries shifts to the healthcare sector, Celltrion Healthcare, Celltrion Pharm, HLB, and Caregen are showing strength.
On this day, the won-dollar exchange rate started trading at 1,323.0 won, down 2.7 won from the previous day.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.