On the 14th, the KOSPI index, which flirted with the 7,000 level on bargain hunting early in the session, tumbled to the 6,700 level.
As of 11:17 a.m., the KOSPI index was trading at 6,712.84, down 94.08 (1.38%) from the previous session. The index opened lower but, on intraday bargain hunting, rose 2% and neared the 7,000 level before being pushed down to the 6,700 level by heavy selling.
Individuals are net sellers of 2.3 trillion won. Foreign investors and institutions are net buyers of 430 billion won and 1.92 trillion won, respectively. Brokerages are net buyers of 980 billion won, the National Pension Service 117 billion won, and investment trusts 111 billion won.
Renewed tensions between the United States and Iran appear to have dampened investor sentiment. The United States resumed airstrikes against Iran, and Iran reimposed a blockade of the Strait of Hormuz. U.S. President Donald Trump said he would impose a 20% expense on cargo passing through the Strait of Hormuz.
With international oil prices nearing $80 due to the renewed blockade of the Strait of Hormuz, refining and shipping stocks are strong. Hung-gu Oil(024060) is up 14%, and STX Green Logis(465770) is trading at the daily upper limit (the top of the daily price range).
Samsung Electronics(005930) is up 1%, but SK hynix is down 2% and is trading around 1.8 million won. Samsung Electro-Mechanics, Samsung Life Insurance, and Hyundai Motor, among other large-cap stocks, are all declining.
At the same time, the KOSDAQ index is trading near the 767 level, down almost 4%. Foreign investors are net sellers of 211.9 billion won, dragging the index lower. Individuals and institutions are net buyers of 150 billion won and 44 billion won, respectively, but that is not enough to stem the decline.
The drop in Alteogen(196170) is steep at 12%. EcoPro and EcoPro BM are also down nearly 7% each.