The Korea Composite Stock Price Index (KOSPI) is fluctuating around the 2640 level during the trading session. After starting weakly, it briefly turned to a slight increase when news of the dismissal of Prime Minister Han Duck-soo's impeachment motion was reported, but it reversed to decline as institutional selling continued.
According to the Korea Exchange and others on the 24th, as of 11:20 a.m. that day, the KOSPI index stood at 2639.51, down 3.62 points (0.14%) from the previous session. The index opened at 2636.43, down 6.70 points (0.25%) from the previous session, but briefly turned to an increase in the morning.
The turn to increase during trading is attributed to the Constitutional Court's decision to dismiss the Prime Minister's impeachment. In particular, it is interpreted as resolving 'domestic political risks,' prompting foreign investors, who initially engaged in net selling, to switch to buying.
Foreign institutional investors are net buying 38 billion won. However, domestic institutional investors are selling more than 56 billion won, leading to a decline in the KOSPI. Individual investors, who were net buyers in the early trading session, are currently net selling 4.8 billion won.
The rally in semiconductor stocks that drove the KOSPI rebound last week has also come to a halt. Samsung Electronics and SK hynix are both in decline. Despite reporting strong earnings, Micron, known as a bellwether for memory semiconductors, dropped by more than 8% due to concerns about the pace of profit recovery.
Meanwhile, in terms of market capitalization among major stocks in the KOSPI, Samsung Biologics, Celltrion, and Naver (NAVER) are all experiencing declines.
In contrast, the stocks of LG Energy Solution, Hyundai Motor, Kia, and KB Financial are rising. Hanwha Aerospace, which faced a drop after the announcement of a capital increase last week, is up nearly 8% today.
At the same time, the KOSDAQ index is on the rise. It stood at 722.20, up 2.79 points (0.39%) from the previous session. The index opened at 721.39, up 1.98 points (0.28%), turned slightly lower, but then turned back to an increase.
In the KOSDAQ market, individual investors are leading the index's increase with net purchases worth 57.6 billion won. Foreign institutional investors and domestic institutional investors are reportedly net selling 48.7 billion won and 6.3 billion won, respectively.
By stock, HLB is up more than 10%. Alteogen, Sam Chun Dang Pharm, and HUGEL are also strong. ECOPRO BM, Ecopro, Rainbow Robotics, CLASSYS, and LigaChem Biosciences are experiencing declines.