The KOSPI index also closed lower on the last transaction day of the year. It marked a decline for five consecutive transactions. Although it seemed that the short-term uncertainty was resolved with the impeachment of Acting President Han Duck-soo, it appears that the stock market was still insufficient to rebound.
On the 30th, the KOSPI index closed down 5.28 points (0.22%) at 2399.49 compared to the previous transaction day. That day, the KOSPI index started at 2397.49, down 0.3% from the previous transaction day. At one point during the trading session, it rose over 1%, but as the session progressed, the gain shrank, ultimately closing lower.
In the securities market, individuals and foreigners sold 28.7 billion won and 122.3 billion won, respectively, while institutions bought 55.6 billion won. Foreign investors also sold 179.4 billion won in KOSPI futures.
The top 10 companies by KOSPI market capitalization generally declined. Samsung Electronics and SK Hynix fell by 0.93% and 0.34%, respectively. Bio-related corporations such as Samsung Biologics (1.61%) and Celltrion (3.94%) recorded gains. Meanwhile, Hyundai Motor (-1.4%), KB Financial (-2.47%), and HD Hyundai Heavy Industries (-0.69%) also showed weakness.
Lee Kyung-min, head of the investment strategy team at Daishin Securities, noted, “The political instability that had worsened investor sentiment last Friday appears to have been resolved with the impeachment of Acting President Han Duck-soo,” adding, “The scenarios we feared have materialized, but short-term political uncertainty seems to have passed its peak.”
The KOSDAQ index recorded a gain of 12.22 points (1.83%) to 678.19 compared to the previous day. In the KOSDAQ market, foreigners and institutions were net buyers of 237.1 billion won and 15.9 billion won respectively, while individuals were net sellers of 248.9 billion won.
The top 10 companies by KOSDAQ market capitalization showed strength. Alteogen rose by 2.82%, while LigaChem Biosciences and HUGEL increased by 5.11% and 5.25%, respectively. Ecopro and Ecopro BM also rose by 0.88% and 1.76%, respectively. Additionally, Rainbow Robotics (15.23%) and HLB (3.98%) also exhibited strength.
Lee Jae-won, a researcher at Shinhan Investment Corp., said, “As the influx of bargain buying increased, the rise in the pharmaceutical, biotechnology, and healthcare sectors became pronounced,” noting, “This is influenced by the upcoming JP Morgan Healthcare Conference starting January 13.” As of the market close, the exchange rate for the won against the U.S. dollar was 1.9 won higher at 1472.4 won.
Meanwhile, the domestic stock market will not open on the 31st. The Korea Exchange designates the last day of the year as a year-end stock market holiday every year.