While the U.S. stock market has been rising daily, the domestic stock market has fallen on its own. In particular, the Nasdaq index, centered on technology stocks, has risen 33% this year. In contrast, the KOSDAQ index has dropped more than 23% from the 860 range to the 660 range.
According to the Korea Exchange on the 29th, the KOSDAQ index, which started at 866.57 on the opening day of the stock market on Jan. 2, has fallen 23.15% to close at 665.97 on the 27th. During the same period, the KOSPI also decreased by more than 9%, from 2,655.28 to 2,404.77.
The U.S. stock market, however, was different. The Nasdaq index rose 33.37%, from 14,873.70 on Jan. 2 to a closing value of 19,722.03 on the 27th. Additionally, the large-cap centered S&P 500 index also jumped 26.58%.
The domestic stock market has shown significantly poor performance compared to Asian stock markets. As of the 27th, Japan's Nikkei 225 index rose 20.37% since the beginning of the year. The Shanghai Composite Index and the Hang Seng Index in Hong Kong increased by 14.26% and 17.82%, respectively.
The underperformance of Samsung Electronics' stock and the sluggishness in the secondary battery sector due to the electric vehicle demand slump have hindered the rise of the indices. Furthermore, uncertainties such as political instability due to the state of emergency and rapid exchange rate increases have made a rebound next year difficult.
A securities industry official noted, "While the U.S. stock market benefited from artificial intelligence, the domestic stock market has suffered from an overwhelming number of issues and bad news. The investment sentiment remains so suppressed that it will likely continue to be difficult next year."
Meanwhile, it has been reported that 250 trillion won has evaporated from the domestic stock market this year. Compared to the last trading day of the previous year, Dec. 28, the KOSPI market capitalization has decreased by 159.415 trillion won, while the KOSDAQ market capitalization has dropped by 94.517 trillion won.