With the fallout from the Iran situation continuing, the KOSPI index opened lower on the 26th. U.S. stocks rose the previous day, but foreign investors' net selling continues in Korea's stock market.
The KOSPI index started trading at 5,594.06, down 48.15 points (0.85%) from the previous session. As early losses deepened, the index was down around 1% as of 9:20 a.m.
In particular, heavyweights such as Samsung Electronics, SK hynix and Hyundai Motor are falling 2% to 3%, dragging down the index.
Foreign investors are net sellers on the main board. With the Iran war dragging on, risk asset investment sentiment appears subdued. However, as retail funds continue to flow in, 5,550 points is being defended relatively firmly.
Nearly a month after the Iran war broke out, "end of war" is being mentioned, but conditions are not improving.
According to foreign media, the United States proposed an end-of-war plan to Iran containing 15 provisions, with "abandoning nuclear arms" as a key element. Iran said it is reviewing the U.S. proposal but added, "We will not allow the United States to unilaterally decide to end the war."
The United States appears to be trying to use Iran's acknowledgment of defeat as the rationale for ending the war, but as Iran is not taking a compliant stance, market participants' concerns about the Middle East conflict are persisting.
The KOSDAQ index, by contrast, is rising. The KOSDAQ started the session up 0.06 point (0.01%) at 1,159.61, and as intraday gains widened, it has been trading in the 1,160 to 1,170 range. Sam Chun Dang Pharm is extending its rally.