On October 20, South Korea's stock market opened lower as concerns over the debt burden of artificial intelligence (AI) infrastructure companies persisted. The combination of political uncertainty in Europe and extreme fluctuations in the New York stock market has made it difficult for investor sentiment to recover.
According to the Korea Exchange, as of 9:10 a.m., the KOSPI index was trading at 5,635.74, down 120.27 points (2.31%) from the previous trading day. Foreign investors sold a net 56.3 billion won, while institutional investors sold a net 164.8 billion won. Individual investors, however, bought a net 193.5 billion won.
Major stocks in the KOSPI, particularly in the semiconductor sector, showed weakness. Samsung Electronics was trading at 215,000 won, down 1.26% from the previous day, while SK Hynix fell 4.46% to 1,223,000 won. Samsung Electronics preferred shares dropped 1.46% to 168,400 won, and SK Square decreased by 2.95% to 757,000 won.
Other stocks that had rebounded strongly the previous day, such as Samsung SDI (-1.89%), LG Energy Solution (-1.74%), and SK Innovation (-3.44%), also experienced declines.
The KOSDAQ index was also down, trading at 793.97 points, a decrease of 12.93 points (1.74%) compared to the previous day. Individual investors were net buyers of 107.9 billion won, while foreign and institutional investors sold a net 61.6 billion won and 45.1 billion won, respectively.
Among the top stocks in the KOSDAQ, Alteogen (-2.09%), EcoPro (-3.32%), EcoPro BM (-4.58%), Wonik IPS (-2.59%), and Samchundang Pharm (-2.38%) all showed weakness.
Lee Kyung-min, a researcher at Daishin Securities, stated, "As the investment sentiment in AI continues to weaken, the semiconductor sector in the U.S. and South Korea is also deteriorating. However, as pressures from rising interest rates and international oil prices ease, there is potential for bargain hunting in non-semiconductor sectors, suggesting a differentiated market may emerge in areas such as secondary batteries, pharmaceuticals, biotechnology, and retail."
* This article has been translated by AI.
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