The KOSPI index opened slightly lower on June 23, following a mixed close on Wall Street. The performance of major tech stocks, including the U.S. Magnificent Seven (M7), along with fluctuating market interest rates and falling oil prices, have limited upward pressure on the KOSPI.
As of 9:08 a.m. KST, the KOSPI was trading at 9,153.67, up 39.12 points (0.43%) from the previous trading day. The index started the day at 9,083.54, down 31.01 points (-0.34%).
In the securities market, individual investors have made a net purchase of 1.7086 trillion won, while institutions and foreign investors sold a net 1.6358 trillion won and 139.8 billion won, respectively.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The KOSPI is likely to face limited upward pressure during the trading session today, with a competition for market dominance between Samsung Electronics and SK Hynix for the top market capitalization spot."
Among the top market capitalization stocks on the KOSPI, SK Hynix rose by 0.21%, while Samsung Electronics fell by 0.57%. Other gainers included Samsung Life (11.88%), SK Square (9.64%), Samsung C&T (4.62%), Doosan Enerbility (3.82%), LG Energy Solution (1.04%), and Samsung Biologics (0.46%). Conversely, Samsung Electro-Mechanics (-4.08%), Hyundai Motor (-2.93%), and HD Hyundai Heavy Industries (-0.79%) showed declines.
At the same time, the KOSDAQ index was trading at 957.47, down 10.93 points (-1.13%) from the previous day. The KOSDAQ index opened at 958.64, down 9.76 points (-1.01%).
In the KOSDAQ market, individual and institutional investors purchased a net 45.5 billion won and 22.1 billion won, respectively, while foreign investors sold a net 62 billion won.
The top stocks in the KOSDAQ also displayed mixed results. Alteogen (3.00%), Kolon TissueGene (2.46%), HLB (1.57%), and ABL Bio (1.02%) saw gains, while Rainbow Robotics (-4.19%), Juseong Engineering (-3.79%), IOTechniques (-2.90%), Wonik IPS (-2.61%), EcoPro BM (-2.28%), Rino Industrial (-1.52%), and EcoPro (-1.48%) experienced declines.
Overnight, the New York stock market reflected mixed signals due to progress in negotiations between the U.S. and Iran, falling international oil prices, concerns over U.S. Treasury yields, and weakness in major tech stocks.
On June 22 (local time), the Dow Jones Industrial Average closed up 0.3% at 51,712.71. In contrast, the S&P 500 index fell 0.4% to 7,472.79, and the tech-heavy Nasdaq Composite dropped 1.3% to 26,166.60. The small-cap Russell 2000 index rose 0.8% to 3,004.40.
One analyst noted, "As the volatility in KOSPI market capitalization increases, the KOSDAQ market may also experience heightened fluctuations in supply and demand."
* This article has been translated by AI.
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