The KOSPI index, which had briefly surpassed the 9,000 mark for the first time, closed lower after giving up all its intraday gains. The KOSDAQ also fell by more than 3% due to heavy selling by institutions.
According to the Korea Exchange, the KOSPI finished at 9,052.40, down 11.42 points (0.13%) from the previous trading day. The index opened at 9,288.89, up 225.05 points (2.48%), and initially broke through the 9,300 level but later reversed course and closed in the red.
In the securities market, individual investors made a net purchase of 1.6866 trillion won, helping to defend the index. In contrast, foreign and institutional investors sold off 388.5 billion won and 1.2341 trillion won, respectively, focusing on profit-taking.
Large-cap stocks showed mixed performance. Samsung Electronics fell 2.90%, and HD Hyundai Heavy Industries dropped 2.49%. However, SK Hynix rose 2.94%, SK Square increased by 5.82%, Samsung Electro-Mechanics gained 3.05%, Hyundai Motor rose 1.00%, Samsung Life Insurance climbed 6.29%, LG Energy Solution was up 0.88%, and Samsung C&T increased by 1.75%.
Han Ji-young, a researcher at Kiwoom Securities, pointed to uncertainties surrounding the ceasefire negotiations between the U.S. and Iran and the increasing concentration in the semiconductor sector as reasons for the market's reversal. He noted that "the fundamental issue in the domestic market is the dominance of a few sectors and the resulting concentration phenomenon."
The KOSDAQ index also struggled, closing at 966.59, down 34.34 points (3.43%) from the previous day. The index started strong at 1,001.40 but turned negative early in the session and widened its losses.
In the KOSDAQ market, individual and foreign investors made net purchases of 79.6 billion won and 487.3 billion won, respectively. However, institutions led the decline with a net sell-off of 586.7 billion won.
Most large-cap stocks on the KOSDAQ ended lower, with Alteogen down 5.14%, EcoPro BM down 1.68%, EcoPro down 1.19%, Rainbow Robotics down 4.23%, Juseong Engineering down 9.13%, Kolon TissueGene down 4.22%, Wonik IPS down 5.12%, HLB down 3.79%, and IOTech down 2.36%. Only Rino Industry managed to close up by 0.22%.
* This article has been translated by AI.
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