KOSPI Weakens Due to U.S. Tech Stock Adjustments and Strong Dollar; Exchange Rate Surpasses 1470 Won Intraday

The KOSPI index is showing weakness in the early session. It is interpreted that the adjustment of major tech stocks in the U.S. market overnight, year-end supply and demand factors such as ex-dividend, and the won-dollar exchange rate, which has risen to the highest level since the global financial crisis, have dampened investor sentiment.

As of 9:10 a.m. on the 27th, the KOSPI index is recording 2,417.46, down 12.21 points (0.5%) from the previous trading day.

In the stock market, foreigners and institutions are leading the decline by selling 9.1 billion won and 13.6 billion won worth of stocks, respectively. Individuals are net buying 20.2 billion won worth.

Most of the top market cap stocks are on a downward trend. While Samsung Electronics, LG Energy Solution, Samsung Biologics, Kia, KB Financial Group, HD Hyundai Heavy Industries, Korea Zinc, and Shinhan Financial Group are falling, SK Hynix, Celltrion, and Naver are rising.

The KOSDAQ index is also recording 673.44, down 2.2 points (0.33%) from the previous trading day at the same time.

In the KOSDAQ market, foreigners and institutions are selling 22.3 billion won and 38.3 billion won worth of stocks, respectively. On the other hand, only individuals are net buying 64.2 billion won worth.

Among the top KOSDAQ market cap stocks, EcoPro BM, EcoPro, LIG ChemBio, Hugel, Classys, Lino Corporation, and Rainbow Robotics are falling, while Alteogen, HLB, Samchundang Pharm, Shinsung Delta Tech, and PharmaResearch are rising.

On this day, the won-dollar exchange rate in the Seoul foreign exchange market opened at 1,467.5 won, up 2.7 won from the previous day. Subsequently, the won-dollar exchange rate surpassed 1,470 won intraday, recording the highest level since the global financial crisis.

Goh Jung-sam, Hankyung.com Reporter jsk@hankyung.com