On the 11th, the Korea Composite Stock Price Index (KOSPI) started more than 2% down, influenced by concerns about an economic downturn in the New York stock market the previous night. The KOSDAQ index is also showing weakness, hovering above the 700 mark.
As of 9:11 a.m. that day, the KOSPI index recorded 2,520.38, down 50.01 points (1.95%) from the previous day. The KOSPI index started the day sharply down 2.09% at 2,516.69. In the securities market, institutions and individuals are net selling 24.5 billion won and 12.8 billion won, respectively. Only foreigners are buying 44.4 billion won worth.
Large-cap stocks turned red across the board. LG Energy Solution is down more than 3%, and Naver (-2.33%), SK hynix (-1.92%), Hanwha Aerospace (-1.71%), Samsung Electronics preferred shares (-1.65%), Samsung Electronics (-1.49%), Samsung Biologics (-1.20%), Hyundai Motor (-1.11%), Kia (-1.02%), and Celltrion (-0.87%) are all showing weakness.
At the same time, the KOSDAQ index is trading at 709.37, down 16.45 points (2.27%) from the previous day. The KOSDAQ index started the day trading down 2.15% at 710.20. In the KOSDAQ market, individuals and institutions are selling stocks worth 42.3 billion won and 4.4 billion won, respectively. Only foreigners are net buying 52.5 billion won.
The top market capitalization stocks in KOSDAQ are also mostly down except for HLB (up 1.38%). ECOPRO BM, Ecopro, Sam Chun Dang Pharm, and CLASSYS are showing declines in the 3% range. Additionally, LigaChem Biosciences (-2.90%), Rainbow Robotics (-2.88%), HUGEL (-1.86%), Alteogen (-1.61%), and PharmaResearch (-1.26%) are also down.
On this day, in the Seoul foreign exchange market, the won-to-dollar exchange rate started at 1,459.1 won, up 6.8 won from the previous day.
Overnight, the U.S. stock market fell sharply as President Donald Trump expressed his intent to push forward with tariff policies while not ruling out the possibility of a slowdown in the U.S. economy.
On the New York stock market, the Dow Jones Industrial Average closed at 41,911.71, down 2.08% from the previous trading day. The Standard & Poor's (S&P) 500 index finished at 5,614.56, down 2.70% from the previous trading day, while the Nasdaq index recorded a drop of 4.00% at 17,468.32.
As the market generally collapsed, the declines in technology, communication services, consumer discretionary, and financial sectors were particularly significant.
In an interview with Fox News on the 9th, Trump said in response to a question about whether he expected a recession this year, 'What we are doing is a process of bringing wealth back to America,' adding that 'a certain transitional period is needed.'