The KOSPI fell to the 5,305 level, but it gradually narrowed its intraday decline and successfully turned positive, holding above the 5,550 line. SK Hynix recovered from its previously suppressed stock price following the announcement of the withdrawal of Solidigm’s initial public offering, rising by over 4%.
On Friday, the KOSPI closed at 5,550.30, up 16.53 points (0.30%) from the previous trading day. The KOSPI index showed a decline of 1% to 3% in early trading, falling as low as 5,305.98. On an intraday basis, it was the first time since July 29 that the KOSPI index fell below the 5,400 line. However, it successfully turned positive by narrowing its decline during the session.
Lee Kyung-min, head of FICC at Daishin Securities, stated, “The domestic stock market continued to be weak due to risk-averse sentiment, but the decline was relatively limited as the sharp drops in Samsung Electronics and SK Hynix on the previous day had already priced in concerns over AI investment stemming from Meta and Tesla. In particular, SK Hynix saw improved investor sentiment following news of the withdrawal of Solidigm’s IPO, leading to a strong performance.”
In the KOSPI market, retail investors and institutional investors made net purchases of 52.7 billion won and 872.2 billion won, respectively. Among institutional investors, pension funds and others bought 52.8 billion won worth of shares. Foreign investors made net sales of 992.8 billion won.
Among KOSPI sectors, pharmaceuticals rose by more than 3%. Medical and precision instruments rose by over 2%, while electrical and electronic products rose by over 1%. Manufacturing, insurance, and construction closed slightly higher, while finance, IT services, and others closed slightly lower. Securities, distribution, and telecommunications fell by more than 1%. Machinery and equipment fell by over 2%, while chemicals and metals fell by over 3%.
Among top KOSPI market capitalization stocks, Samsung Biologics surged by over 7%. SK Hynix rose by more than 4%, and SK Square rose by more than 3%. Samsung Life Insurance rose by over 1%. While Samsung Electronics closed slightly higher, Samsung C&T closed slightly lower.
Celltrion closed slightly higher, overtaking Kia to finish trading at the 11th place in market capitalization. LG Energy Solution and Hyundai Motor fell by over 1%. Samsung SDI and KB Financial Group fell by over 2% and more than 3%, respectively.
The KOSDAQ closed at 751.69, down 12.41 points (1.62%) from the previous trading day.
In the KOSDAQ market, foreign investors and institutional investors made net sales of 44 billion won and 24.7 billion won, respectively. Retail investors made net purchases of 63 billion won. In early trading on this day, retail investors had made net sales of 31.2 billion won while foreign investors made net purchases of 40.9 billion won, but the trend reversed during the session.
All KOSDAQ sectors declined. Publishing and media reproduction plunged by over 5%. Finance fell by more than 4%. Metals, distribution, electrical and electronic products, and others dropped by over 2%. Entertainment and culture, general services, non-metals, chemicals, machinery and equipment, IT services, and others fell by more than 1%. Pharmaceuticals, transportation equipment and parts, telecommunications, and construction remained slightly lower.
Among top KOSDAQ market capitalization stocks, Ecopro and Ecopro BM closed down by over 5%. Rino Industrial fell by more than 4%. Jusung Engineering and RAINBOW Robotics dropped by more than 3%. Alteogen fell by over 2%, and Iotech fell by over 1%. Among the top 12 stocks by market capitalization, HLB was the only one to close slightly higher.
In Seoul’s foreign exchange market on this day, the won/dollar exchange rate closed daily trading at 1,324.6 won, up 0.4 won from the previous trading day’s closing price.
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