The KOSPI and KOSDAQ indexes are showing mixed trends after a sharp drop at the market's opening. Initially, investor sentiment was dampened by geopolitical risks in the Middle East, leading to a significant decline. However, buying interest in semiconductor stocks helped the KOSPI recover to a stable range, while the KOSDAQ rebounded with gains exceeding 3%.
As of 1:30 PM, the KOSPI was trading at 7740.72, up 9.90 points (0.13%) from the previous trading day, according to the Korea Exchange.
The index opened down 221.20 points (2.86%) at 7509.62 and fell to as low as 7394.46, breaching the 7400 mark. It later turned upward, reaching a high of 7800.62 during the session before retreating again, currently fluctuating in a mixed trend amid a tug-of-war between individual and foreign investors.
Individuals have net bought 1.68 trillion won, while institutions purchased 766.5 billion won. In contrast, foreign investors have net sold 2.55 trillion won.
Among the top market capitalization stocks, trends were mixed. SK Hynix (up 2.44%), SK Square (up 3.47%), HD Hyundai Heavy Industries (up 1.09%), Samsung C&T (up 2.09%), and Samsung Electronics preferred shares (up 0.94%) saw gains, while Samsung Electronics (down 1.16%), Samsung Electro-Mechanics (down 1.05%), Hyundai Motor (down 1.50%), LG Energy Solution (down 0.65%), Samsung Life Insurance (down 0.27%), and Kia (down 3.63%) faced losses.
Market analysts suggest that today’s fluctuations are more a result of macroeconomic variables rather than a deterioration in fundamentals.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp, noted, "Despite the U.S. Consumer Price Index (CPI) meeting expectations, concerns over instability in the Middle East have heightened risk aversion. However, semiconductor exports from June 1 to 10 increased by 205.8% compared to the same period last year, indicating solid fundamentals. This has led to a wave of bargain buying in semiconductor stocks, helping the KOSPI recover to a stable range."
At the same time, the KOSDAQ index was trading at 980.61, up 28.98 points (3.05%) from the previous day. The index opened down 14.46 points (1.52%) at 937.17 and fell to 921.08 before successfully turning upward during the session.
While individuals and foreign investors net sold 71.5 billion won and 344.8 billion won respectively, institutions led the index's rise with a net purchase of 398.1 billion won.
Among the top market capitalization stocks, Alteogen (up 7.46%), JUSUNG Engineering (up 26.38%), Rino Technology (up 5.05%), and Wonik IPS (up 19.28%) showed strong performance, while EcoPro BM (down 2.92%), EcoPro (down 0.19%), Rainbow Robotics (down 2.51%), and HLB (down 1.96%) experienced declines.
* This article has been translated by AI.
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