The KOSPI fell more than 2% in early trading on the 13th, slipping to the 7,400 level. It appears to have been affected by a more than 5% plunge in Samsung Electronics, which had led the market until now. Overnight in the United States, inflation concerns grew and the major indexes closed lower, which also weighed on sentiment.
As of 9:07 a.m., the KOSPI was down 2.16% (165.02 points) from the previous trading day at 7,478.13. The KOSPI opened at 7,513.65, down 1.69% (129.50 points) from the previous trading day.
In the main board, individuals and institutions were net buyers of 1.0074 trillion won and 139.5 billion won, respectively. Foreign investors were net sellers of 1.1811 trillion won.
Seven of the top 10 stocks by market capitalization on the main board were lower. In particular, Samsung Electronics, where labor-management wage renegotiations broke down at dawn, was down more than 5%. SK hynix and SK Square were also down more than 2%, and LG Energy Solution, Doosan Enerbility, and Samsung Biologics were also lower. Hyundai Motor, HD Hyundai Heavy Industries, and Samsung Electro-Mechanics were higher.
At the same time, the KOSDAQ was at 1,168.83, down 10.46 points (0.89%) from the previous day. The KOSDAQ opened the session at 1,176.43, down 2.86 points (0.24%).
On the KOSDAQ market, individuals were buying 119.3 billion won, while foreigners and institutions were net sellers of 101.1 billion won and 2 billion won, respectively.
Top KOSDAQ market-cap stocks were mostly lower as well. EcoPro BM, EcoPro, Alteogen, Kolon TissueGene, Sam Chun Dang Pharm, LigaChem Biosciences, and ABL Bio were down, while Rainbow Robotics, LEENO Industrial, and HLB were higher.
Overnight in the United States, as inflation concerns grew, the New York stock market ended mixed. The U.S. Labor Department said on the 12th (local time) that the April consumer price index (CPI) rose 3.8% from a year earlier. That was the fastest pace since May 2023.
The Dow Jones Industrial Average rose 56.09 points (0.11%) to 40,760.56, the Standard & Poor's (S&P) 500 fell 11.88 points (-0.16%) to 7,400.96, and the tech-heavy Nasdaq composite dropped 185.92 points (-0.71%) to 26,088.20.
Semiconductor shares fell as profit-taking emerged. The Philadelphia Semiconductor Index lost 3%, and Qualcomm fell 11.46%. Micron (-3.61%), Intel (-6.82%), and SanDisk (-6.17%) also all closed lower.