The domestic stock market showed fluctuations around the break-even point, with concerns over earnings and economic indicators of major corporations mixed with expectations for easing trade tensions between the United States and China. The KOSPI index, which had been on an upward trend reflective of the U.S. stock market in early trading, reduced its gains, while the KOSDAQ index, which started strong, shifted to weakness during the session and expanded its losses.
On the 28th, the KOSPI index recorded a rise of 2.56 points (0.10%) to 2548.86 compared to the previous trading day. The index began trading at 2551.23, up 4.93 points (0.19%) from the previous trading day, maintained a strong trend, but then saw a reduction in its gain and turned to a slight decline.
In the securities market, institutional investors supported the lower end of the index with a net purchase of 959 billion won. Retail investors and foreign investors sold a net 555 billion won and 1.07 trillion won, respectively. In contrast, in the KOSPI 200 futures market, foreigners had a net purchase of 3.881 trillion won.
The top 10 companies by market capitalization showed mixed performance. Samsung Electronics, LG Energy Solution, Samsung Biologics, and Hyundai Motor closed higher. On the other hand, SK hynix, HD Hyundai Heavy Industries, and Celltrion declined. HANMI Semiconductor plummeted by more than 8% due to the possibility of separation from SK hynix.
The shipbuilding sector, which announced strong results last week, closed higher. Stocks related to shipbuilding, such as Hanwha Ocean, HD Hyundai Mipo, HJ Shipbuilding & Construction, Samsung Heavy Industries, and STX Engine, generally continued their upward trend ahead of a visit from key U.S. officials.
HDC Hyundai Development Company, which recorded strong results in the first quarter due to revenue recognition from the Seoul Won I-Park sold last year, and Hyundai E&C, which was awarded the public redevelopment project in the Jangwi 9 area, also rose due to expectations of long-term earnings growth.
The travel and casino sectors are also expected to see improved results due to domestic economic stimulus in China and temporary visa-free entry in the latter half of the year. Hotel Shilla, which has turnaround prospects for its airport duty-free shops, alongside Lotte Tour Development, PARADISE, and Hanatour, which are expected to post strong results in the first quarter, showed strong performance.
SK Telecom, which experienced a hacking incident involving SIM cards, fell by over 6%, while KT and LG Uplus rose amid expectations of indirect benefits.
Lee Kyung-min, a researcher at DAISHIN SECURITIES, noted, "The domestic stock market displayed a mixed sentiment ahead of potential easing trade tensions between the United States and China and major corporations' earnings announcements," and added, "It is difficult to predict the impact of economic indicators due to uncertainty regarding tariff policies, resulting in a prevailing wait-and-see sentiment and cautious psychology."
On the evening of the 30th, Korea time, the U.S. personal consumption expenditures (PCE) for March will be announced, followed by the U.S. non-farm payroll figures for April on the night of the 2nd of next month. Domestically, Samsung Electronics will hold an earnings conference call on the 30th, and other major corporations, including KRAFTON, HYBE, LG CHEM, and SK Innovation, are also set to announce their earnings.
As of 3:30 p.m., the won to dollar exchange rate in the Seoul foreign exchange market rose by 6.1 won to 1442.6 won.
On that day, the KOSDAQ index recorded a drop of 10.28 points (1.41%) to 719.41 compared to the previous trading day. The index opened at 730.58, up 0.89 points (0.12%) from the previous trading day, then turned to weakness and expanded its losses. In the KOSDAQ market, foreign and institutional investors sold a net 59 billion won and 113.8 billion won worth, respectively, pulling the index down. Retail investors alone purchased a net 185 billion won.
Alteogen fell by 3% as disputes surrounding the subcutaneous injection (SC) formulation patent with its partner, U.S. Merck (MSD), and U.S. biotech company Halozyme intensified. In this context, investor sentiment in the pharmaceutical and biotech sectors contracted, with shares of HUGEL, LigaChem Biosciences, and Kolon TissueGene declining. Conversely, secondary battery stocks such as Ecopro and ECOPRO BM rose slightly.
On that day, the trading volume in the Korea Exchange's securities market and the KOSDAQ market was 77.329 trillion won and 60.355 trillion won, respectively. The alternative exchange Next Trade recorded a total trading volume of 43.345 trillion won in its pre-regular market.