The KOSPI fell for the second consecutive day, dropping to the 6,800 line. The KOSDAQ also slipped below the 900th mark in a single day. With Samsung Electronics' third-quarter preliminary earnings release, the release of U.S. Federal Open Market Committee (FOMC) minutes, and options expiration scheduled for the upcoming 8th, forecasts indicate that stock market volatility will continue.
On the 7th, the KOSPI ended trading at 6,803.90, down 137.49 points (1.98%) from the previous day.
Lee Kyung-min, head of the FICC Research Department at Daishin Securities, stated, "The domestic stock market showed weakness again amid rising international oil prices and U.S. Treasury yields." He added, "With a wait-and-see mood prevailing ahead of Samsung Electronics' preliminary earnings release, foreign investors and institutional investors both made net sales."
He further noted, "In addition, LG Electronics recorded an operating profit of 781.8 billion won in the third quarter, with operating profit falling 24.8% below expectations." He added, "This heightened caution regarding earnings ahead of Samsung Electronics' preliminary earnings release scheduled for the 8th."
In the KOSPI market, foreign investors and institutional investors made net sales of 2.6087 trillion won and 672.6 billion won, respectively. Retail investors made net purchases of 2.5608 trillion won.
Among KOSPI sectors, metals fell by 4.14%, and transportation equipment and parts dropped by 3.54%. Machinery and equipment, manufacturing, and securities slid by more than 2%. Medical and precision instruments surged by 5.86%, while entertainment and culture rose by 3.95%. Textiles and apparel, as well as food, beverage, and tobacco, also increased by more than 1%.
Among top market capitalization stocks, Samsung Electronics fluctuated throughout the day before closing down 1.29%. SK Hynix fell by 2.82%. Samsung Electro-Mechanics and Hanwha Aerospace dropped in the 4th% range. LG Electronics, which recorded an earnings shock, plunged by 10.54%. In contrast, KB Financial Group, Celltrion, and LG Energy Solution ended with slight gains.
The KOSDAQ recorded a drop of 21.49 points (2.34%) from the previous day to 898.43.
In the KOSDAQ market, foreign investors and institutional investors made net sales of 265.1 billion won and 216.1 billion won, respectively. Retail investors made net purchases of 503.6 billion won.
Among KOSDAQ sectors, machinery and equipment fell by 4.87%. Transportation equipment and parts, as well as financials, declined in the 3rd% range, while electrical and electronic products and manufacturing showed a drop in the 2nd% range. Entertainment and culture rose by 1.66%, and pharmaceuticals, along with food, beverage, and tobacco, ended with slight gains.
Most of the top market capitalization stocks on the KOSDAQ declined. Jusung Engineering plunged by 11.13%. Wonik IPS showed weakness, falling by 7.22%. Eugene Technology dropped by 6.16%. The share prices of Ecopro and Ecopro BM fell by more than 3%. In contrast, PSK Holdings jumped by 3.55%. T.S.I. showed a slight gain.
On this day, the won/dollar exchange rate ended daily trading at 1,340.4 won, down 3.2 won from the previous session's closing price.
Stock market volatility is expected to continue going forward. Im Jeong-eun, a researcher at KB Securities, stated, "The September FOMC minutes will be released in the early hours of the 8th, and Samsung Electronics' preliminary earnings release and options expiration are scheduled." She added, "There is a possibility of expanded volatility."
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