On the 8th, the KOSPI ended lower after taking a direct hit from a late-session geopolitical shock out of the Middle East. The KOSPI, which opened higher and rose during the session, saw volatility surge sharply just before the close on news that instability in the Middle East had intensified.
The KOSPI finished at 6,954.52, down 40.87 points (0.58%) from the previous session. The index started at 7,045.79, up 50.40 points (0.72%) from the day before, topping the 7,000 level for the first time in 15 sessions. As the intraday gains expanded, the index at one point rose above 7,100.
But the mood reversed after 3 p.m., near the end of the session.
Investor sentiment appears to have quickly soured as breaking foreign reports said Saudi Arabia was hit by missile and drone attacks from pro-Iran Yemeni rebels (Houthis), injuring 73 civilians. As geopolitical jitters flared again, selling on concerns about rising oil prices and inflation poured in, and the index turned lower.
In the Korea Exchange's main board, foreigners and institutions were net buyers of 382.8 billion won and 896.7 billion won, respectively, moving to defend the index. In contrast, individuals alone were net sellers of 3.2179 trillion won, focusing on profit-taking.
Top market-cap stocks were mixed. The bellwether Samsung Electronics(005930) ended at 269,500 won, down 500 won (0.19%) from the prior day, while Samsung Biologics (-1.77%), Hyundai Motor (-2.04%), LG Energy Solution (-3.86%), and Samsung Electro-Mechanics (-5.78%) fell. By contrast, SK hynix(000660) finished at 1,793,000 won, up 10,000 won (0.56%), and SK Square (0.53%) and Doosan Enerbility (1.82%) rose.
The KOSDAQ also could not avoid weakness. It closed at 811.88, down 10.31 points (1.25%) from the previous session. The index opened at 825.03, up 2.84 points (0.35%) from the day before, then reversed lower around 3 p.m. on the Middle East shock and stayed weak into the close.
In the KOSDAQ market, individuals were net buyers of 206.8 billion won, while foreigners and institutions were net sellers of 8.7 billion won and 209.2 billion won, respectively. Among top KOSDAQ market-cap names, Alteogen(196170) (-3.15%), EcoPro (-1.70%), EcoPro BM (-1.78%), and Rainbow Robotics (-3.35%) mostly fell. Only some semiconductor equipment and component stocks, including Jusung Engineering(036930) (3.95%) and SIMMTECH (1.67%), showed strength.