The South Korean stock market opened lower due to a sharp decline in U.S. tech stocks and rising international oil prices, but has since reduced its losses. The KOSPI index continued to struggle under pressure from foreign selling, although some large-cap stocks, including SK Hynix, showed gains, helping to mitigate the decline.
As of 1:05 PM, the KOSPI was down 44.38 points (0.80%) at 5,489.39. The index started the day at 5,403.17, down 130.60 points (2.36%), and at one point, the drop exceeded 4% before recovering.
In the securities market, individual and institutional investors made net purchases of 422.9 billion won and 613.2 billion won, respectively. In contrast, foreign investors sold a net 1.0621 trillion won, increasing downward pressure on the index.
Among the top market capitalization stocks, there was a mixed performance. Samsung Electronics (-0.12%), LG Energy Solution (-2.05%), Samsung Electro-Mechanics (-3.32%), Hyundai Motor (-3.48%), and KB Financial (-4.55%) saw declines. Conversely, SK Hynix (3.03%), SK Square (1.07%), Samsung Biologics (7.49%), and Samsung Life (0.62%) experienced gains.
The KOSDAQ index also continued its downward trend. At the same time, the KOSDAQ was trading at 744.90, down 19.20 points (2.51%) from the previous day, having opened at 748.32, down 15.78 points (2.07%).
In the KOSDAQ market, foreign and institutional investors sold a net 30.8 billion won and 57.6 billion won, respectively, while individual investors purchased a net 89.3 billion won.
Most of the top market capitalization stocks were also weak. Alteogen (-3.46%), EcoPro (-5.57%), EcoPro BM (-5.70%), Juseong Engineering (-3.86%), Rainbow Robotics (-4.25%), HLB (-0.61%), EoTechnics (-2.93%), Rino Industrial (-4.83%), Wonik IPS (-2.18%), and Samchundang Pharmaceutical (-2.19%) all declined.
* This article has been translated by AI.
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