The KOSPI index reversed its early gains and fell to the 5,920 level as Samsung Electronics dropped more than 4%. The decline in major stocks, including LG Energy Solution, has put pressure on the index. The KOSDAQ also fell over 2% due to simultaneous net selling by foreign and institutional investors.
According to the Korea Exchange, as of 1:46 PM, the KOSPI was down 82.61 points (1.37%) at 5,929.83. The index opened at 6,017.22, up 4.78 points (0.08%), and briefly surpassed the 6,060 mark before turning downward.
In the securities market, foreign and institutional investors have net sold 106 billion won and 810.3 billion won, respectively. Meanwhile, individual investors have net bought 774.5 billion won.
Among the top market capitalization stocks, movements were mixed. Samsung Electronics fell 4.75%, while LG Energy Solution dropped 7.57%. Other declines included Samsung Electro-Mechanics (-1.53%), Samsung Biologics (-0.66%), and Samsung Life Insurance (-1.08%). Conversely, SK Hynix rose by 2.96%, along with SK Square (3.58%), Hyundai Motor (2.87%), and KB Financial (0.97%).
At the same time, the KOSDAQ index was trading at 753.16, down 18.12 points (2.35%) from the previous trading day.
In the KOSDAQ market, foreign and institutional investors net sold 139.1 billion won and 65.6 billion won, respectively, while individual investors net bought 219.6 billion won.
Most of the top market capitalization stocks in the KOSDAQ showed declines. Alteogen (-1.91%), EcoPro (-3.52%), EcoPro BM (-4.92%), JUSUNG Engineering (-3.45%), Rainbow Robotics (-6.43%), HLB (-2.09%), and IOTechniques (-1.55%) all experienced losses.
Overnight, the New York stock market rose for the third consecutive day, buoyed by the Federal Reserve's decision to hold interest rates steady and strong performance in semiconductor stocks. The Philadelphia Semiconductor Index increased by 1.76%, and SK Hynix's American Depositary Receipts surged by 13.30%. However, following earnings reports from Microsoft and Alphabet, stock prices fluctuated in after-hours trading, reflecting growing market interest in profitability and cash flow amid increased investments in artificial intelligence.
* This article has been translated by AI.
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