KOSPI attempts to reclaim 3,200 mark during the session... KRW-USD exchange rate around 1,387 KRW

Korea Economic Daily

Summary

KOSPI attempted to recover the 3,200 mark during the session, but reported continued net selling by foreigners and institutions.
KOSDAQ also recovered the 810 level after bouncing back from losses, but major large-cap stocks were reported to be weak.
There were reports that the failure of U.S. cryptocurrency-related bills and concerns over U.S. inflation are impacting the market.

Net selling by foreigners and institutions in KOSPI and KOSDAQ markets

The KOSPI is attempting to recover the 3,200 mark during intraday trading. The KOSDAQ index is also reducing its losses and has approached the break-even zone.

As of 11:00 a.m. on the 16th, the KOSPI stands at 3,199.46, down 15.82 points (0.49%) from the previous day. The KOSPI showed weakness at the beginning of the session, falling as low as 3,178.42. However, it gradually trended upward, nearing the 3,200 mark again.

In the stock market, foreigners and institutions are posting net sales of 399.8 billion KRW and 297.9 billion KRW, respectively. Individuals alone are recording net purchases of 671.6 billion KRW.

Most of the large-cap stocks are declining. KB Financial Group (-3.68%) is showing particularly steep losses, while Doosan Enerbility (-1.68%), Shinhan Financial Group (-1.27%), Celltrion (-1.18%), SK hynix (-1.09%), LG Energy Solution (-1.03%), Hyundai Motor Company (-0.71%), and Kia Corporation (-0.4%) are also in the red. However, HD Hyundai Heavy Industries (1.9%), NAVER Corporation (1.6%), and Samsung Electronics (0.86%) are showing strength.

The KOSDAQ index is at 812.55, down 0.33 points (0.04%) from the previous day. Although the KOSDAQ index performed poorly earlier, falling to 805.13, it managed to recover and surpassed the 810 mark.

Foreigners and institutions are also showing net sales of 129.0 billion KRW and 15.8 billion KRW, respectively, in the KOSDAQ market. Individuals are net buying 164.7 billion KRW, absorbing the supply.

Major large-cap KOSDAQ stocks are also showing declines. ABL Bio (-4.44%), LIG Chem Bio (-2.2%), PharmaResearch (-2.03%), Kolon TissueGene (-1.94%), EcoPro (-1.17%), HLB (-1.15%), and EcoPro BM (-0.86%) are all down. On the other hand, leader Alteogen (0.64%) is slightly up, and Classys (2.38%) and Peptron (1.49%) are also showing strength.

Stocks related to stablecoins are showing weakness, as progress has stalled in the U.S. House of Representatives on three major cryptocurrency bills. On the 15th (local time), the U.S. House held a procedural floor vote to review three major digital asset bills, but the outcome was 196 to 223, failing to pass.

The KRW-USD exchange rate stands at 1,387.1 KRW, down 1.1 KRW compared to the previous night session.

Concerns over U.S. inflation are growing. The U.S. Consumer Price Index (CPI) for June rose 2.7% year-on-year, marking the largest gain since February (2.8%) and surpassing the May increase (2.4%). It also slightly exceeded the market estimate of 2.6%. Analysts say the impact of tariffs is now being fully reflected in prices.

Youngkee Jin, Korea Economic Daily reporter young71@hankyung.com