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KOSPI closes 1.10% lower in the aftermath of a plunge in the US stock market… Growth stocks hit (total)

KOSDAQ fell below 900 again in one day… Foreigners and institutional net sellers in both markets

KOSPI fell more than 1%

(Seoul = Yonhap News) Reporter Joo-seong Kim = Employees are working at Hana Bank’s dealing room in Jung-gu, Seoul on the afternoon of the 27th, when the KOSPI fell by more than 1%.
On this day, the KOSPI closed at 2,639.06, down 29.25 points (1.10%) from the previous trading day. 2022.4.27 utzzza@yna.co.kr

(Seoul = Yonhap News) Reporter Chae Sae-rom = The KOSPI fell more than 1% on the 27th due to the sharp drop in the US stock market, dropping to 2,630 units.

On this day, the KOSPI closed at 2,639.06, down 29.25 points (1.10%) from the previous trading day.

The index started at 2,630.58, which is 37.73 points (1.41%) lower than the previous market, and went down to 2,615.50 at the beginning of the market, but the decline was reduced as expectations for easing China’s lockdown measures during the day flowed.

Foreigners and institutions net sold 678.7 billion won and 240 billion won, respectively, in the stock market, pulling down the stock price. Individuals net bought 96.9 billion won and started defending the index.

On the 26th (local time), the New York Stock Exchange took a big step backward, with the Nasdaq Composite falling 3.95% on fears of intensive tightening by the US Federal Reserve and an economic slowdown.

As a result, investor sentiment in the domestic stock market also contracted, but as the Chinese stock market strengthened in the afternoon, the decline partially made up for it.

As the number of new confirmed cases of COVID-19 in Shanghai, China recorded its lowest level in more than 20 days, expectations for the easing of COVID-19 lockdowns in some areas of Shanghai have increased.

Kim Seok-hwan, a researcher at Mirae Asset Securities, said, “As the won/dollar exchange rate broke through 1,260 won, the number of foreigners going for sale increased.” As a result, stock price differentiation is becoming more and more clear.”

In the top 10 by market cap, most stocks fell except for Samsung Biologics (0.75%), Samsung SDI (1.55%), and Hyundai Motor (0.00%).

Daejoo Samsung Electronics[005930]fell 1.66% to a new 52-week low. LG Energy Solution[373220](-1.30%), SK hynix[000660](-2.25%), Naver (-2.26%), Kakao[035720](-2.00%), Kia (-0.24%), LG Chem[051910](-2.53%) and others also declined.

In particular, Naver (-2.26%), Kakao Pay[377300](-2.16%), NCsoft[036570](-2.38%), Krafton[259960](-4.02%), Netmarble[251270](-4.07%), IT and game stocks, which are considered to be growth stocks, broke new lows in 52 weeks as large tech stocks plunged in the US stock market.

By industry, telecommunication (-3.54%), food and beverage (-1.88%), paper/wood (-2.34%), chemical (-1.02%), electricity/electronics (-1.42%), medical precision (-1.50%) , retail (-1.17%), finance (-1.72%), and service (-1.40%) fell more than 1%. Textiles and clothing (1.76%), pharmaceuticals (0.70%), and non-metallic minerals (0.66%) showed strength.

The KOSDAQ index closed at 896.18, down 14.98 points (1.64%) from the previous field, giving up the 900 line again within one day.

The index started at 898.02, down 13.14 points (1.44%) from the battlefield, and fell to 888.97 at one time, but then rebounded and reduced the decline.

In the KOSDAQ market, institutions net sold 182.1 billion won and foreigners 12.2 billion won. Individuals net bought 194.6 billion won.

In the top 10 by market cap, Celltrion Healthcare[091990](0.33%), Celltrion Pharmaceuticals[068760](1.71%) showed an upward trend following the previous day, while the rest of the stocks declined. Pearl Abyss (-24.29%), which performed poorly in the Chinese market, led the index down. EcoproBM (-0.20%), L&F (-1.07%), Kakao Games (-4.04%), HLB (-1.66%), Reno Industrial (-2.53%), Chunbo (-2.35%), CJ ENM (-1.99) %) and so on.

The daily trading volume of the KOSPI and KOSDAQ markets was 12,427.7 billion won and 9.292 trillion won, respectively.

srchae@yna.co.kr

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