As concerns about a recession in the United States grew, the U.S. stock market plummeted last night, resulting in a decline in Asian stock markets on the 11th. The KOSPI index also fell, but the drop was not significant as bargain hunting came in. On this day, the KOSPI index closed at around 2530.
The KOSPI index finished at 2537.6, down 32.79 points (1.28%) from the previous transaction day. Early in the session, the KOSPI index dropped over 2%. This was influenced by a sharp decline in the U.S. stock market, including a 4% plunge in the Nasdaq overnight. However, the losses narrowed in the afternoon. On this day, the Taiwan Weighted Index and the Japan Nikkei 225 fell by 1.73% and 0.64%, respectively.
On this day, foreigners and institutions sold shares worth 363.6 billion won and 237 billion won in the securities market, respectively. Individuals alone were net buyers, purchasing 491.5 billion won.
Tesla's 15% plunge in the U.S. stock market caused a widespread decline in secondary battery stocks. POSCO Holdings dropped 4.5%, while Samsung SDI fell by 3.24%, POSCO FUTURE M by 2.92%, and LG Energy Solution by 2.43%.
Automaker KG Mobility announced that it would implement a capital reduction by reducing the par value of its common stock from 5,000 won to 1,000 won by 80% for financial restructuring, resulting in a nearly 20% plunge that day.
Most stocks with large market capitalization were weak. Hanwha Aerospace fell by 3.42%, Samsung Biologics by 1.39%, and Naver by 1.16%, while Hyundai Motor, Samsung Electronics, and SK hynix also faced declines.
The KOSDAQ index closed at 721.5, down 4.32 points (0.60%) from the previous transaction day. On this day in the KOSDAQ market, institutions were net sellers of 87.1 billion won. Individuals and foreigners bought 48.8 billion won and 45.4 billion won, respectively.
In the KOSDAQ's top market capitalization stocks, ECOPRO BM fell significantly by 3.25%, and Ecopro by 2.83%. HLB, CLASSYS, and LigaChem Biosciences also showed declines in the 1% range.
Lee Jae-won, a research institute analyst at Shinhan Investment Corp., noted, "The Asian stock market was weak today due to concerns over a possible economic slowdown in the U.S. and fears of an expanding tariff war." He added, "This week, it is necessary to continuously confirm three pillars: the U.S. economy, impeachment dismissal or citation, and negotiations between the U.S. and Ukraine."
Meanwhile, as of 3:30 p.m. on this day, the exchange rate of the Korean won against the U.S. dollar was recorded at 1,458.2 won, up by 5.9 won from the previous transaction day.