On the 22nd, the KOSPI started lower. Investor sentiment appears somewhat subdued as the United States and Iran engage in last-minute tug-of-war over a final round of talks toward ending the war.
The KOSPI began trading down 97.99 points (1.08%) at 8,954.43. As foreigners and institutions net sold together, the index is falling. As early losses narrowed, it briefly recovered near the 9,000 level, but the decline soon deepened, and as of 9:10 a.m. it was down around 1.5% near the 8,900 level.
Ahead of Micron's earnings this week, investors appear to be taking a wait-and-see stance. Samsung Electronics is down around 2%, but SK hynix is slightly higher. Among large-cap stocks, SK Square and Samsung C&T are rising, but most of the others are falling.
Over the weekend, the New York stock market was closed for Juneteenth, the U.S. holiday marking the emancipation of slaves, but U.S. index futures are mostly lower. The won-dollar exchange rate opened at 1,530.9 won, up 3.9 won.
Over the weekend, the United States and Iran began talks in Switzerland to implement a memorandum of understanding (MOU) to end the war, but friction persisted. U.S. President Donald Trump threatened to hit Iran hard again if it fails to stop Hezbollah, the pro-Iranian armed faction in Lebanon. Reports said the Iranian negotiating team pushed back, putting the talks on the brink of breakdown.
While the KOSPI is declining, the KOSDAQ market is showing strength. The KOSDAQ started the transaction down 9.10 points (0.94%) at 957.49, but it turned higher early in the session. As of 9:10 a.m., it was up around 0.8%, moving near the 970 level.
In the KOSDAQ market, secondary battery and biotech stocks are weak, but semiconductor materials, parts, and equipment names such as Jusung Engineering, Wonik IPS, and PSK are rising.