South Korea's two major stock exchanges opened lower, appearing to be hit by the resumption of armed conflict between the United States and Iran after about a month. All three major U.S. indices also fell overnight in New York.
As of 9:08 a.m. on the 1st, the KOSPI was trading at 6,768.74, down 51.28 points (0.75%) from the previous day. The KOSPI opened lower by 35.73 points (0.52%) at 6,784.29 and continues to show weakness. The KOSPI has turned bearish again within a single day.
The domestic stock market appears to be suffering from unstable macroeconomic conditions. The U.S. conducted an airstrike on Iran's Larak Island in the Strait of Hormuz the previous day. In response, Iran immediately launched missile and drone attacks targeting U.S. military bases in Jordan and the United Arab Emirates (UAE), causing the situation to deteriorate rapidly. This marks the first U.S. military attack on Iran in about a month.
Accordingly, overnight in New York, the Dow Jones Industrial Average fell 374.09 points (0.70%) from the previous close to 53,185.90. The Standard & Poor's (S&P) 500 index closed down 25.62 points (0.33%) at 7,686.14, while the NASDAQ Composite Index fell 31.53 points (0.12%) to 26,370.89.
Looking at KOSPI supply and demand, foreign investors and institutional investors are net selling stocks worth 305.2 billion won and 276.8 billion won, respectively, as of this moment. Retail investors alone are net buying stocks worth 548.2 billion won.
By industry on the KOSPI, electrical and electronics, manufacturing, securities, and machinery and equipment sectors fell by about 1%. Chemicals rose by about 2%, while transportation and warehousing increased by about 1%.
All of the top 12 companies by market capitalization on the KOSPI are in a downtrend. Samsung Electro-Mechanics is down by about 3%, while Samsung Electronics, SK Square, Hanwha Aerospace, and others are down by about 2%, and SK Hynix is down by about 1%.
As of the same time, the KOSDAQ is showing a decline of 7.42 points (0.89%) from the previous day at 826.87. The KOSDAQ opened lower by 2.33 points (0.28%) at 831.96 and is widening its losses as time passes.
Supply and demand on the KOSDAQ also shows continued net buying by retail investors alone. Foreign investors and institutional investors are net selling stocks worth 74.8 billion won and 29.5 billion won, respectively, as of this moment, while retail investors are net buying stocks worth 105.7 billion won.
By sector on the KOSDAQ, non-metallic minerals, machinery and equipment, electrical and electronics, manufacturing, general services, medical and precision instruments, construction, and paper and wood sectors are all down by about 1%.
Among top market capitalization stocks on the KOSDAQ, Wonik IPS, IOTechnics, Simtek, PharmResearch, Peptron, and HPSP are all in a downtrend of about 2%.
As of 9:00 a.m. today, the won-dollar exchange rate is trading at 1,368.3 won.
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