KOSPI Fluctuates Around 2450 Amid Political Uncertainty

Korea Economic Daily

Summary

It was reported that the KOSPI index is showing a downward trend due to foreigners' net selling of 200 billion won.
It was stated that financial stocks are weak for the second day due to political uncertainty.
It was reported that political uncertainty due to the 'martial law situation' seems to be the cause of the withdrawal of foreign funds.

Foreigners Net Selling 200 Billion Won

Financial Stocks Weak for Second Day

The KOSPI index is showing a downward trend. Despite the U.S. stock market closing at a record high overnight, it is interpreted that the alertness due to the martial law situation is being reflected.

As of 10:48 a.m. on the 5th, the KOSPI index is recording 2458.42, down 5.58 points (0.23%) from the previous trading day. The index started with a 0.3% rise and fluctuated within the flat range before turning downward.

In the stock market, foreigners are leading the decline by selling 200 billion won worth of stocks. Individuals and institutions are net buying 149.7 billion won and 15.2 billion won, respectively.

The top market cap stocks are showing mixed trends. Samsung Electronics, SK Hynix, LG Energy Solution, Samsung Biologics, Celltrion, and Naver are rising, while Hyundai Motor, Kia, POSCO Holdings, and Hyundai Mobis are falling.

Financial stocks are weak for the second consecutive trading day. KB Financial Group is plunging by over 8%, and JB Financial Group (-5.15%), Shinhan Financial Group (-5.12%), Woori Financial Group (-3.53%), BNK Financial Group (-3.48%), DGB Financial Group (-3.06%), Hana Financial Group (-2.92%), and Industrial Bank of Korea (-1.89%) are also weak. It seems that the political uncertainty due to the 'martial law situation' has led to the withdrawal of foreign funds.

The KOSDAQ index is also continuing its downward trend. At the same time, the KOSDAQ index is recording 756.66, down 5.84 points (0.77%) from the previous trading day.

In the KOSDAQ market, foreigners and institutions are net selling 72.6 billion won and 1.2 billion won, respectively, while only individuals are net buying 80.3 billion won.

Among the top KOSDAQ market cap stocks, EcoPro BM, Enchem, Classys, Rainbow Robotics, and Pearl Abyss are falling, while Alteogen, HLB, Rigakem Bio, Hugel, and Lino Corporation are rising.

Jong-sam Ko, Hankyung.com reporter jsk@hankyung.com