'Tense' Market...Stock and Exchange Rates Fluctuate After Yoon's Address

KOSPI's Gain Reduced from 1% to 0.2% After President Yoon's Address

Foreign Selling Volume Expanded from 60 Billion to 150 Billion

Won-Dollar Exchange Rate Rises Above 1,430 Won Intraday

Yoon: "Viewing Martial Law as Rebellion Puts Constitution at Risk"

On the 12th, the KOSPI index gave up some of its intraday gains following President Yoon Suk-yeol's emergency address. The won-dollar exchange rate, which had started the day on a downward trend, also turned upward intraday.

As of 10 a.m. that day, the KOSPI index was up 0.44% at 2,453.26 compared to the previous day. The index had opened with a 0.58% gain and rose over 1% intraday, but reduced its gain to 0.27% after President Yoon's emergency address began around 9:45 a.m.

Foreign investors are also expanding their intraday selling volume. Foreigners, who had maintained a net selling position of around 60 billion won in the early session, are now at a net selling position of 163 billion won. Institutions and individuals are maintaining net buying positions of 63 billion won and 70 billion won, respectively.

Top market cap stocks on the KOSPI are mixed. LG Energy Solution, Celltrion, Samsung Electronics, Shinhan Financial Group, Hyundai Mobis, and POSCO Holdings have turned downward following President Yoon's address. Samsung Electronics, SK hynix, Samsung Biologics, and Hyundai Motor Company are still maintaining an upward trend.

The KOSDAQ index also gave up its gains, rising 0.54% at this time. The KOSDAQ index had risen up to 1.6% intraday due to bargain hunting after a recent short-term plunge.

The won-dollar exchange rate, which started at 1,429.10 won, down 3.1 won from the previous day's closing price, turned upward intraday. According to Seoul Foreign Exchange Brokerage at this time, the won-dollar exchange rate is at 1,430.97 won. It is interpreted that investor sentiment has deteriorated due to the judgment that political instability will continue following President Yoon's address.

President Yoon said in an emergency address to the nation around 9:40 a.m., "The major opposition party is wielding a frenzied sword dance, claiming that the declaration of martial law constitutes a rebellion," and "For the past two and a half years, the major opposition party has not recognized the president elected by the people and has not stopped inciting resignation and impeachment."

He emphasized, "The emergency martial law measures exercised by the president's legal authority to normalize state affairs are a high-level political judgment by the president," and "I will fight to the end."

Noh Jeong-dong, Hankyung.com reporter dong2@hankyung.com