KOSPI turns downward again after mixed performance... The decline increases to 1%

(Seoul = Yonhap News) Reporter Eunjin Lim = KOSPI turned downward again during the session after mixed performance on the 7th, falling to the 6,800 level.

According to the Korea Exchange, as of 11 am on this day, KOSPI was at 6,886.24, down 55.15 points (0.79%) from the previous trading day. Afterwards, the decline expanded to 1%.

The index started at 6,864.25, down 77.14 points (1.11%) from the previous day, but later turned upward as 'KOSPI leader' Samsung Electronics expanded its gains.

Accordingly, at one point, it rose to 6,977.77 and was on the verge of regaining the '7,000 pi', but soon lost its upward momentum and is showing weakness again.

This can be interpreted as the impact of the decline in the stock prices of memory semiconductor companies such as Micron Technology and SK Hynix [000660] ADR in the US stock market last night.

In the KOSPI market, individual investors are net buying KRW 1.1195 trillion, but foreigners and institutions are net selling KRW 1.1177 trillion and KRW 274.2 billion, respectively, putting downward pressure on the index.

Other corporations, which had been attracting attention as major supply and demand players in the KOSPI market due to the share purchases of Samsung Electronics and SK Hynix, saw their buying power weaken compared to the previous year with a net purchase of 242.3 billion won.

Samsung Electronics acquired 15 trillion won worth of treasury stocks as originally planned by the previous day, and SK Hynix signed about 80% of the planned purchase.

Until now, SK Hynix had been purchasing 600,000 to 650,000 shares of its own stock every day, but since the 2nd, it has reduced the number of purchases to 400,000 to 500,000 shares.

Among the top stocks in market capitalization, Samsung Electronics (-0.55%) and SK Hynix (-2.14%) turned downward, while SK Square (-0.86%), Samsung Electro-Mechanics (-1.31%), and Hyundai Motor Company (-2.59%) are also falling.

On the other hand, LG Energy Solution (0.45%), KB Financial (0.48%), and Celltrion (0.33%) are rising.

By industry, medical/precision equipment (5.30%), entertainment/culture (3.89%), and textiles/clothing (1.15%) are rising, while metals (-3.37%), transportation equipment/parts (-2.65%), and machinery/equipment (-1.61%) are falling.

At the same time, the KOSDAQ index was 908.86, down 11.06 points (1.20%) from the previous day.

The index started at 917.45, down 2.47 points (0.27%), and is expanding its decline.

In the KOSDAQ market, individuals are net buying KRW 323.8 billion, while foreigners and institutions are net selling KRW 238.3 billion and KRW 64.9 billion, respectively.

Among the top stocks by market capitalization, Alteogen (-0.58%), Ecopro (-3.20%), and Jusung Engineering (-4.49%) are falling, while Reno Industrial (0.23%), PSK Holdings (1.78%), and Pharma Research (1.14%) are rising.