The KOSPI index, which set an intraday all-time high on the 14th, turned lower in the afternoon. Investor sentiment appeared to weaken as concerns about U.S.-China trade tensions resurfaced. The KOSDAQ index also fell nearly 1.5%.
On the day, the KOSPI index closed at 3,561.81, down 22.74 points (0.63%) from the previous transaction day. Early in the session, it recovered the prior day's decline and climbed to as high as 3,646.77. It was an intraday record high. However, as profit-taking by institutions emerged, the index turned downward in the afternoon.
In the main board, institutions dumped 948.9 billion won worth of shares, dragging prices lower. Individuals and foreigners were net buyers of 500.8 billion won and 392.4 billion won, respectively.
Samsung Electronics, which announced a third-quarter "earnings surprise" on the day, rose intraday to 97,500 won, fueling hopes for "100,000 electronics," but fell 1.82%. SK hynix, which had jumped more than 5% early in the session, also weakened in the afternoon and fell 0.84%.
The weakness in the domestic stock market was attributed to growing anxiety over U.S.-China trade frictions. As the United States and China clashed in the shipping and shipbuilding sectors, the Chinese government announced sanctions in the afternoon on five U.S. subsidiaries of Hanwha Ocean, deepening the market's losses. Hanwha Ocean plunged 5.76% on the news.
Among large-cap stocks, Hanwha Aerospace (-6.04%), HD Hyundai Heavy Industries (-4.06%), Doosan Enerbility (-2.32%), and KB Financial (-0.63%) also declined. In contrast, LG Energy Solution rose nearly 7% on strong third-quarter results and an overnight surge in its customer, Tesla. Hyundai Motor (2.06%) and Samsung Biologics (0.69%) also ended higher.
The KOSDAQ index closed at 847.96, down 12.53 points (1.46%) from the previous transaction day. In the KOSDAQ market on the day, foreigners and institutions were net sellers of 150.8 billion won and 120.1 billion won, respectively, while only individuals bought 276.3 billion won worth of shares.
Most top KOSDAQ market-cap stocks flashed red. Peptron (-4.97%), PharmaResearch (-4.47%), HLB (-3.30%), LigaChem Biosciences (-3.10%), ABL Bio (-1.64%), and Sam Chun Dang Pharm (-0.74%) fell. ECOPRO BM (5.01%), Ecopro (3.70%), and Alteogen (0.45%) finished higher.
Lee Jaewon, an analyst at Shinhan Investment & Securities, said, "Despite the strength in secondary battery and robotics stocks, the KOSDAQ market was weak due to profit-taking in semiconductor materials, parts, and equipment stocks."
The analyst said, "There are external risk factors such as U.S.-China trade tensions and political instability in Japan, but as Samsung Electronics proved with its results, at the start of the third-quarter earnings season now, it is necessary to focus on companies with a clear profit momentum (upside potential)."