Boosted for days by the effect of hosting the Asia-Pacific Economic Cooperation (APEC) and topping 4,200 for the first time on the previous day, the KOSPI fell more than 2% on the 4th as foreign and institutional investors took profits. Samsung Electronics and SK hynix, which had driven the index higher, fell by around 5%. In contrast, the KOSDAQ closed up more than 1% as previously lagging bio stocks and small and mid caps gained ground.
The KOSPI closed at 4,121.74, down 100.13 points (2.37%) from the previous day. It was the first lower close in five sessions since on the 28th of last month, surrendering the 4,200 level it had reached for the first time ever just a day earlier.
The index opened at 4,219.24, down 2.63 points (0.06%) from the previous session, and extended losses on selling by foreigners and institutions. In the KOSPI market, foreign investors were net sellers of 2.2164 trillion won. It was the largest in about seven months since selling 2.2 trillion won in April due to the impact of U.S. tariff bombshells. Institutions also were net sellers of 498.5 billion won, while individuals showed a net buying advantage of 2.6895 trillion won.
Large-cap semiconductor stocks that had been supporting the recent KOSPI rise led the decline. Samsung Electronics ended at 1,049,000 won, down 62,000 won (5.58%) from the previous session. The preferred share, Samsung Electronics preferred, also fell 5.53%. SK hynix closed at 5,860,000 won, down 340,000 won (5.48%).
Most of the top market-cap stocks, including these, flashed "blue lights" on profit taking. LG Energy Solution, Hyundai Motor, Hanwha Aerospace, HD Hyundai Heavy Industries, Kia, and NAVER closed lower. In contrast, KB Financial and others rose.
Oil refiners closed higher on news that eight countries in OPEC+—the Organization of the Petroleum Exporting Countries and allied major producers—would stop additional output increases. S-Oil ended at 773,000 won, up 6.92% from the previous session. It jumped as much as 10.24% intraday to a one-year high. GS also finished at 489,500 won, up 1.24%.
The KOSDAQ closed at 926.57, up 12.02 points (1.31%) from the previous session. In the KOSDAQ market, foreigners and institutions were net buyers of 228.3 billion won and 166.3 billion won, respectively. Individuals went on "sell" orders totaling 365.3 billion won.
Among top market-cap stocks, HLB group shares strengthened on news they would attract a $145 million investment from the U.K.-based global asset manager LMR Partners. HLB ended at 536,000 won, up 64,500 won (13.68%) from the previous session. HLB PHARMA rose 16.34%, HLB Therapeutics gained 13.88%, and HLB Innovation also climbed 5.57% to close.
In addition, shares including Alteogen, EcoPro, Rainbow Robotics, Peptron, ABL Bio, LigaChem Biosciences, and Sam Chun Dang Pharm finished trading at higher prices than the previous day. In contrast, EcoPro BM and PharmaResearch closed lower.
In the Seoul foreign exchange market, as of 3:30 p.m., the won-dollar exchange rate stood at 1,437.9 won, up 9.1 won from the previous day.