(Seoul = Yonhap News) Reporter Lim Eun-jin = KOSPI fell more than 2% on the 8th, falling to 6,600 levels despite the record-breaking performance of 'leading stock' Samsung Electronics [005930].
According to the Korea Exchange, on this day, KOSPI closed at 6,625.93, down 177.97 points (2.62%) from the previous trading day.
The index started at 6,808.68, up 4.78 points (0.07%) from the previous day, but soon turned downward and expanded the fall in the afternoon.
Individual investors net bought 2.9061 trillion won, but foreigners and institutions net sold 1.9921 trillion won and 1.6714 trillion won, respectively, pulling the index down.
Foreigners also recorded a selling advantage of 1.247 trillion won in the KOSPI 200 futures market.
As of 3:30 p.m., the won-to-dollar exchange rate in the Seoul foreign exchange market was 1,338.5 won, down 1.9 won from the previous day.
Although Samsung Electronics announced provisional earnings for the third quarter that exceeded market expectations, KOSPI fell at the same time as sell-on (price decline amid good news) listings were put up for sale.
Samsung Electronics announced before the opening of regular trading that its consolidated operating profit in the third quarter of this year was provisionally calculated to be KRW 107.4 trillion.
This is 1.6% higher than the market forecast of 105.7533 trillion won compiled by Yonhap Infomax.
This is the first time that a Korean company has exceeded 100 trillion won in operating profit on a quarterly basis, and it is the first record even including global big tech companies such as Apple and NVIDIA.
However, the stock price fell by more than 2% based on the closing price, which appears to be due to weakened investment sentiment in CellOn due to the perception of material extinction.
In addition, the fact that international oil prices and U.S. Treasury bond interest rates rose again during the day seems to have put a burden on the index.
The futures prices of Brent crude oil and U.S. West Texas Intermediate (WTI) exceeded $103 and $90 per barrel, respectively, and the U.S. 10-year Treasury bond interest rate far exceeded 5.3%.
Lee Gyeong-min, a researcher at Daishin Securities [003540], said, "Samsung Electronics' operating profit of 107 trillion won exceeded market expectations, but the weakness developed as Cell On was put up for sale." He added, "The stock market, which was looking for a turnaround with the announcement of Samsung Electronics' earnings amid the burden of interest rates and oil prices, was discouraged by the decline in Samsung Electronics' stock price."
Among the top stocks in market capitalization, Samsung Electronics (-2.42%), SK Hynix [000660] (-2.44%), and SK Square [402340] (-8.06%) fell, while LG Energy Solution [373220] (2.56%), Samsung SDI [006400] (1.25%), etc. SK Innovation [096770] (0.81%) etc. rose.
By industry, only textiles and clothing (0.09%) and real estate (0.02%) rose, while most fell, including finance (-4.11%), transportation equipment and parts (-3.94%), and pharmaceuticals (-3.69%).
In the KOSPI market, the number of stocks that rose was 252, the number of stocks that declined was 625, and the number of stocks that remained flat was 40.
The KOSDAQ index closed at 892.27, down 6.16 points (0.69%) from the previous day.
The index started at 898.19, down 0.24 points (0.03%), then went through repeated upward and downward movements and eventually ended trading with a decline.
In the KOSDAQ market, individuals and foreigners net bought 50.3 billion won and 64.1 billion won, respectively, but institutions net sold 106.5 billion won.
Among the top stocks by market cap, Alteogen [196170] (-6.23%), Rainbow Robotics [277810] (-4.03%), and HLB [028300] (-0.54%) fell, while Ecopro BM [247540] (3.45%), Jusung Engineering [036930] (8.08%), etc. Reno Industrial [058470] (3.17%) etc. rose.
In the KOSDAQ market, 618 stocks rose, 1,031 fell, and 88 remained flat.
The trading value of the stock market and KOSDAQ market was calculated to be 23.23 trillion won and 7.65 trillion won, respectively.
The total trading volume of the free market and main market of Nexttrade, an alternative exchange, is 9.2067 trillion won.
