As the impeachment situation drags on, the effectiveness of institutional investors like pension funds, which have stepped in as firefighters, is diminishing. The unprecedented situation of an acting president's impeachment is compounded by an exchange rate shock. On the 26th, the KOSPI index fell below 2430, despite institutional 'buy' orders, as individual investors unleashed strong selling pressure. The KOSDAQ index also fluctuated before declining by nearly 1%.
On this day, the KOSPI index closed at 2429.67, down 10.85 points (0.44%) from the previous trading day. The KOSPI index opened at 2449.52, up 9.00 points (0.37%) from the previous close but showed stagnation around the 2440 level.
Then, after Prime Minister Han Deok-soo announced the decision to postpone the appointment of constitutional judges, political conflicts emerged as the opposition party expressed its discontent, leading the KOSPI index to clearly trend downward. Institutions and foreign investors purchased a net 17.1 billion won and 123.7 billion won, respectively. However, individual investors contributed to the index decline by selling a net 249.8 billion won.
In particular, on this day, the transaction amount for the KOSPI was 6.08 trillion won, marking the lowest level this year. The average daily transaction amount for the KOSPI increased from 8.87 trillion won in January to 12.97 trillion won in June, but has since been on a downward trend.
As technology stocks performed strongly in the U.S. market, the fortunes of domestic semiconductor giants Samsung Electronics and SK Hynix diverged. Samsung Electronics, ranked first in market capitalization, closed at 53,600 won, down 1.47% from the previous trading day. Samsung Electronics' preferred stock also fell by 0.67%. In contrast, SK Hynix, ranked second in market capitalization, finished at 170,100 won, up 0.95% from the previous day.
On this day, stocks of companies like LG Energy Solution, Samsung Biologics, Celltrion, KB Financial Group, and NAVER also dropped. Meanwhile, Hyundai Motor and Kia rose by 0.46% and 2.29%, respectively.
Lee Kyung-min of Daishin Securities Research Institute noted, 'As trading volumes are thin due to the end-of-year holiday season, the volatility of the won increased,' adding that 'with expanded exchange rate volatility, the downtrend in financial and telecommunications stocks has intensified.'
The KOSDAQ index closed at 675.64, down 4.47 points (0.66%) from the previous trading day. The KOSDAQ index started at 684.21, up 4.10 points (0.60%) from the previous day before turning downward. In particular, the won-dollar exchange rate surged, exacerbating the drop and pushing it down to the 670 level. In the KOSDAQ market, institutions purchased a net 160 billion won, while individuals and foreigners sold net amounts of 135.2 billion won and 19.3 billion won, respectively.
Among the top 10 stocks by market capitalization, Alteogen, Rigakem Bio, Samchundang Pharmaceutical, and Shinseong Delta Tech saw their stock prices rise. In contrast, Ecopro, HLB, Ecopro, Hugel, Classys, and Rino Industries experienced declines.
Despite the market's weakness on this day, shipbuilding stocks continued their upward rally. Following news that the Indian government sought cooperation with Korean shipbuilders, HD Hyundai Heavy Industries, HD Korea Shipbuilding & Offshore Engineering, Hanwha Engine, and HD Hyundai Marine Engineering set new annual highs. ▲ Hanwha Engine (6.63%) ▲ Hanwha Ocean (4.86%) ▲ Hyundai Hims (2.57%) also closed higher.
The year's final new stock, Painmedics, at one point achieved 'double' (a stock price two times the offering price). Founded in 2009 by gastroenterologist and professor Jeon Sung-woo, Painmedics specializes in digestive endoscopic devices. After briefly rising to 158.50%, it later reduced its gains to close at 60%.
As of 3:30 p.m. in the Seoul foreign exchange market, the won-dollar exchange rate (won/dollar exchange rate) recorded 1464.8 won, up 8.4 won from the previous day. This marks the first time that the exchange rate has surpassed the 1460 won level since the financial crisis in March 2009.