The KOSPI index barely held above the 2600 level on the 19th. Investor sentiment weakened after global credit rating agency Moody's downgraded the U.S. credit rating from the highest level of 'Aaa' to 'Aa1' for the first time in 108 years. Although the KOSPI index fell to the 2590 level during the session for the first time in 6 transactions, it reduced its decline before the market closed. The KOSDAQ index dropped nearly 1.6%, falling to the 710 level for the first time in 10 transactions.
On that day, the KOSPI index closed at 2603.42, down 23.45 points (0.89%) from the previous transaction. The KOSPI index, which began lower on that day, fell to 2593.44 in the early session, but the decline decreased in the afternoon, maintaining a position above the 2600 level.
On that day, institutions and foreigners sold a net 203 billion won and 169.3 billion won worth of stocks in the securities market, respectively. Only individuals purchased a net 364.2 billion won.
Among the top market capitalization stocks, SK hynix fell more than 2%. Samsung Electronics and Hyundai Motor Company saw declines of around 1%. In contrast, Samsung Biologics (2.59%), KB Financial (1.50%), HD Hyundai Heavy Industries (0.95%), and LG Energy Solution (0.34%) experienced upward trends.
A large fire occurred at the Gwangju plant over the weekend, making production disruptions unavoidable, leading to a drop of over 7% for Kumho Tire. In contrast, NEXEN TIRE rose 1.71% on expectations of reflective benefits.
On that day, news of the avian influenza outbreak in Brazil, which accounts for about 90% of domestic chicken imports, banned the import of Brazilian chicken. This caused stocks related to chicken to surge, with MANIKER hitting the upper limit (the highest daily price limit) and Harim rising 25.21% to close.
The KOSDAQ index finished the transaction at 713.75, down 11.32 points (1.56%) compared to the previous day. The KOSDAQ index fell to the 710 level for the first time in 10 transactions since 30th of last month (closing price of 717.24).
On that day, in the KOSDAQ market, institutions and foreigners sold stocks worth 184.5 billion won and 49.6 billion won, respectively. Individuals net purchased 255.2 billion won.
Among the top market capitalization stocks in the KOSDAQ market, all except PharmaResearch (1.56%), Alteogen (0.63%), and Ecopro (0.11%) were in decline. Rainbow Robotics dropped by more than 8%, and Sam Chun Dang Pharm (-5.88%), HLB (-4.47%), LigaChem Biosciences (-3.01%) saw significant declines. Other stocks such as Peptron (-2.12%), HUGEL (-1.73%), CLASSYS (-0.83%), and ECOPRO BM (-0.64%) also showed downward trends.
Lee Jae-won, a researcher at Shinhan Investment Corp, noted, "Asian stock markets showed weakness alongside the impact of the downgrade in the U.S. credit rating," adding, "Recent sectors that suffered significant declines showed cyclical trading patterns; it is necessary to keep an eye on the U.S. Purchasing Managers' Index (PMI) on the 22nd and NVIDIA's earnings announcement on the 29th."