The KOSPI fell more than 1% last night in the aftermath of the sharp decline in the US stock market. Foreign and institutional selling led the decline in the index.
According to the Korea Exchange on the 27th, the KOSPI index closed at 2639.06, down 29.25 points (1.10%) from the previous trading day. The index opened at 2630.58, down 37.73 points from the previous trading day.
In the stock market, foreigners and institutions net sold 678.6 billion won and 237.6 billion won, respectively. On the other hand, individuals had the upper hand in buying 904.5 billion won.
The trading volume was 1.56.36 billion shares, and the transaction value was 12.4035 trillion won.
There were 193 rising stocks, including one upper limit, and 695, falling stocks, without a lower limit.
By industry, paper and wood (-2.34%), food and beverage industry (-1.88%), medical precision (-1.50%), electricity and electronics (-1.42%), distribution (-1.17%), chemicals (-1.02%), etc. fell
Most of the companies with the highest market cap also closed lower. LG Chem (-2.53%), Kakao Bank (-2.31%), Naver (-2.26%), SK Hynix (-2.25%), and Samsung Electronics (-1.66%) finished trading on a downward trend. Celltrion (1.79%), Samsung SDI (1.55%), and Samsung Biologics (0.75%) rose.
The domestic stock market is believed to have been adversely affected by a drop in major indices in the New York Stock Exchange last night on fears of large tech companies’ earnings announcements and concerns about a global economic slowdown.
Kim Seok-hwan, a researcher at Mirae Asset Securities, explained, “The overall investor sentiment in the domestic stock market has contracted as the US stock market plunged as companies announced their earnings, as costs increased due to global supply chain instability and high inflation, and concerns about an economic slowdown expanded.”
Researcher Kim said, “In particular, the domestic stock market also coincided with the decline in the KOSDAQ due to the sharp decline in technology stocks such as semiconductors, electric vehicles, and the Internet, but the decline was partially offset by the strength of the Chinese stock market.”
The KOSDAQ index closed at 896.18, down 14.98 points (1.64%) from the previous day.
In the KOSDAQ market, foreigners and institutions net sold 12.2 billion won and 182.1 billion won, respectively. Individuals net bought 1945 billion won.
On the KOSDAQ, there were 295 rising stocks with three upper limits, and 1,106 stocks with one lower limit on the KOSDAQ.
Among the top stocks by market cap, Pearl Abyss plunged 24.3%. Kakao Games (-4.04%), WeMade (-3.58%), and Studio Dragon (-5.35%) also showed weakness. Celltrion Healthcare (0.33%) and Celltrion Pharm (1.71%) closed higher.
The won-dollar exchange rate closed at 1265.2 won, up 14.4 won from the previous trading day.
