The KOSPI index fell nearly 1% in early trading on June 22, dropping below the 9,000 mark. Investor sentiment weakened amid ongoing uncertainties surrounding negotiations between the United States and Iran, leading to increased foreign selling.
According to the Korea Exchange, as of 9:10 a.m., the KOSPI was trading at 8,969.57, down 82.85 points (-0.92%) from the previous trading day. The index opened at 8,954.43, down 97.99 points (-1.08%), but managed to recover some losses.
In the securities market, retail and institutional investors bought a net 709.9 billion won and 36.4 billion won, respectively, helping to cushion the index's decline. In contrast, foreign investors sold a net 765.6 billion won, indicating profit-taking.
Large-cap stocks showed mixed performance. Samsung Electronics fell 2.97%, SK Hynix dropped 1.23%, Samsung Electro-Mechanics declined 2.11%, Hyundai Motor decreased 2.45%, Samsung Life Insurance was down 2.92%, and HD Hyundai Heavy Industries fell 0.90%. Conversely, SK Square rose 3.03%, LG Energy Solution increased by 0.87%, and Samsung C&T gained 1.42%.
The KOSDAQ index exhibited relatively stronger performance. At the same time, the KOSDAQ index was up 9.78 points (1.01%) at 976.37. It had opened at 957.49, down 9.10 points (-0.94%), but successfully turned upward early in the session.
In the KOSDAQ market, retail investors sold a net 73.7 billion won, while foreign and institutional investors bought a net 38.4 billion won and 33.5 billion won, respectively.
The performance of large-cap stocks in the KOSDAQ was mixed. Alteogen fell 2.26%, EcoProBM dropped 1.77%, EcoPro declined 1.12%, Rainbow Robotics decreased 1.69%, and Kolon TissueGene fell 1.27%. On the other hand, JUSUNG Engineering rose 1.66%, Wonik IPS surged 8.59%, Rino Technology increased 0.54%, HLB gained 0.94%, and EoTechnics jumped 3.51%.
Market attention is focused on the ongoing negotiations between the United States and Iran. Last week, the U.S. stock market was closed in observance of Juneteenth, and on June 21, the U.S. and Iran began discussions in Switzerland regarding the implementation of a memorandum of understanding (MOU) for a ceasefire.
However, the negotiations faced immediate challenges. President Donald Trump warned on his social media platform, Truth Social, that he would respond strongly against Iran if it failed to control the Iran-aligned militant group Hezbollah. Ongoing clashes between Israel and Hezbollah have added to the uncertainty surrounding the progress of the negotiations.
Han Ji-young, a researcher at Kiwoom Securities, noted, "News that could stir anxiety regarding the follow-up negotiations between the U.S. and Iran, such as the recent controversy over Vice President JD Vance's travel plans, may emerge this week."
* This article has been translated by AI.
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