On November 2, the KOSPI opened with a decline of over 1%, with semiconductor stocks led by Samsung Electronics and SK Hynix showing weakness. Amid strong selling pressure from individual and foreign investors, institutional buying is providing some support to the index.
According to the Korea Exchange, as of 9:20 a.m., the KOSPI recorded a drop of 1.31%, trading at 5,655.82. After opening at 5,637.77, the index has fluctuated, maintaining a decline of over 1%.
In the KOSPI market, individuals have sold a net 106.1 billion won, while foreign investors have also sold a net 143.2 billion won. In contrast, institutions have stepped in with a net purchase of 232.3 billion won, helping to defend the index.
Among the top market capitalization stocks, Samsung Electronics is trading down 2.89% at 218,000 won, while SK Hynix is down 1.41% at 139,500 won. Samsung Electro-Mechanics has fallen 1.84% to 117,400 won, with most stocks, including Samsung SDI (-2.03%), SK Square (-2.34%), and Samsung Electronics Preferred (-2.18%), also declining.
On the other hand, stocks such as Hanwha Ocean (7.30%), Hanmi Semiconductor (2.03%), HD Hyundai Heavy Industries (3.83%), LS Electric (2.61%), LG CNS (6.51%), and Hyundai Mobis (4.49%) are trading higher.
The KOSDAQ index is also down 0.33%, recording 721.85 at the same time. The KOSDAQ opened at 716.44 and is slightly recovering from its losses. Currently, individuals and institutions have recorded net purchases of 9.5 billion won and 5.8 billion won, respectively, while foreign investors are selling a net 104 billion won.
Market analysts expect continued high volatility this week. Han Ji-young, a researcher at Kiwoom Securities, stated, "As we navigate through significant domestic and international events this week, high volatility is expected to persist. Although stock prices have entered an oversold phase, profit forecasts are improving. Therefore, rather than reducing exposure in response to this week's volatility, a wait-and-see strategy may prove more effective in the long run."
* This article has been translated by AI.
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