KOSPI, US-China summit uncertainty prompts 'waiting to see'…KOSDAQ also falls
Summary
- It reported that the KOSPI and KOSDAQ indices were each showing a decline due to uncertainty over the US-China summit and the burden of a short-term sharp rise.
- It stated that on the securities market and KOSDAQ, foreigners and institutions continued to be net sellers, while individual investors were net buyers.
- It reported that movements in major market-cap top stocks and the won-dollar exchange rate were increasing volatility in the domestic stock market.
The KOSPI index is showing a decline in early trading on the 22nd. It is interpreted that investors' caution was triggered by the burden from a short-term sharp rise and the possibility that the US-China summit may not take place.
As of 9:06 a.m. that day, the KOSPI index stood at 3819.21, down 4.63 points (0.12%) from the previous session.
On the securities market, foreigners and institutions were net sellers of 148.2 billion won and 64.5 billion won respectively, while individuals were net buyers of 206.9 billion won.
With the KOSPI quickly surpassing the 3800 mark, short-term overheating concerns have grown, and it is interpreted that the possibility of the US-China summit not taking place has come into focus.
President Trump said, "I am scheduled to meet Xi Jinping (China's president) in two weeks and we will talk about a lot of things in Korea," while also saying, "Maybe (the meeting) may not materialize." Following such remarks, the U.S. stock market also closed mixed overnight.
Among KOSPI's top market-cap stocks, Samsung Electronics, SK Hynix, Samsung Biologics, Doosan Enerbility, KB Financial, Celltrion, Naver, Hanwha Ocean were falling, while LG Energy Solution, Hyundai Motor, Hanwha Aerospace, HD Hyundai Heavy Industries, Kia were rising.
At the same time, the KOSDAQ index stood at 868.4, down 4.1 points (0.47%) from the previous session. On the KOSDAQ market, foreigners and institutions were net sellers of 87.2 billion won and 7.6 billion won respectively, while individuals were net buyers of 94.0 billion won.
Among KOSDAQ's top market-cap stocks, Alteogen, Rainbow Robotics, Peptron, HLB, Rigachem Bio, ABL Bio, Samchundang Pharmaceutical, Rino Industrial were falling, while EcoPro BM, EcoPro, Pharma Research, Kolon TissueGene were rising.
In the Seoul foreign exchange market, the won-dollar exchange rate opened at 1431.5 won, up 3.7 won from the previous close.
Ko Jeong-sam, Hankyung.com reporter jsk@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
