The KOSPI closed slightly lower on May 9, snapping a three-day winning streak, as cautious sentiment surrounding upcoming U.S.-China trade talks and a rising exchange rate offset optimism over the newly concluded U.S.-U.K. trade agreement.
The benchmark KOSPI ended the session at 2,577.27, down 2.21 points (0.09%) from the previous day. The index opened higher at 2,587.93, up 8.45 points (0.33%), and initially maintained a modest upward trend before reversing course and moving within a narrow range for the remainder of the session.
As of 3:30 p.m., the Korean won stood at 1,400.0 per U.S. dollar, up 3.4 won from the previous session.
In the main board (KOSPI) market, institutional investors net sold 187.1 billion won, exerting downward pressure on the index. In contrast, individual and foreign investors were net buyers of 63.2 billion won and 68.0 billion won, respectively. However, the foreign net buying volume was about half of the previous day’s total of 130 billion won. In the KOSPI 200 futures market, foreign investors recorded net purchases of 106.0 billion won.
Despite optimism over the U.S.-U.K. trade agreement, the KOSPI’s upward momentum was capped as the won/dollar exchange rate approached the psychologically important 1,400 level.
Investor caution also intensified ahead of the first round of U.S.-China trade negotiations, scheduled to be held in Switzerland on May 10. Market participants expect trade talks with countries other than the U.K. to present greater challenges.
Lee Kyung-min, an analyst at Daishin Securities, stated, “The KOSPI gave up its early gains amid exchange rate volatility and turned slightly negative. Investor sentiment weakened ahead of the high-level U.S.-China talks expected over the weekend.”
Among major large-cap stocks, SK hynix(000660) fell 0.11%, LG Energy Solution(373220) declined 2.90%, Hanwha Aerospace(012450) dropped 0.57%, KB Financial Group(105560) lost 2.65%, and Meritz Financial Group(138040) slid 2.64%.
In contrast, Samsung Electronics(005930) rose 0.37%, while Samsung Biologics(207940) (0.39%), Hyundai Motor(005380) (1.50%), Kia(000270) (1.71%), and NAVER(035420) (1.22%) also finished higher.
Lotte Shopping(023530) jumped 8.42% to a new 52-week high after reporting strong Q1 earnings and on expectations that it will benefit as the major shareholder of Lotte Cultureworks following news of a merger between Lotte Cinema and Megabox.
By industry, medical precision (-4.97%), construction (-2.01%), and chemicals (-1.18%) declined, while utilities (1.61%) and telecommunications (0.66%) advanced.
The KOSDAQ also declined, ending the day at 722.52, down 7.07 points (0.97%) from the previous session. The index opened at 731.01, up 1.42 points (0.19%), but reversed direction and extended losses through the session.
In the KOSDAQ market, foreign and institutional investors net sold 265.8 billion won and 81.9 billion won, respectively, while individual investors were net buyers of 376.9 billion won.
Battery-related stocks declined, with EcoPro BM(247540) down 5.78% and EcoPro(086520) falling 3.08%. Other notable decliners included Alteogen(196170) (-2.13%), Rainbow Robotics(277810) (-3.72%), and Classys(214150) (-0.14%).
On the other hand, YG Entertainment(122870) surged 10.22% to a 52-week high after reporting first-quarter earnings that significantly exceeded market expectations. Other gainers included SM Entertainment(041510) (3.10%), HLB(028300) (1.40%), PharmaResearch(214450) (2.03%), and Pearl Abyss(263750) (4.37%).
Total trading value reached 8.018 trillion won on the KOSPI and 7.411 trillion won on the KOSDAQ.
The KOSPI closed slightly lower on May 9, snapping a three-day winning streak, as cautious sentiment surrounding upcoming U.S.-China trade talks and a rising exchange rate offset optimism over the newly concluded U.S.-U.K. trade agreement.
The benchmark KOSPI ended the session at 2,577.27, down 2.21 points (0.09%) from the previous day. The index opened higher at 2,587.93, up 8.45 points (0.33%), and initially maintained a modest upward trend before reversing course and moving within a narrow range for the remainder of the session.
As of 3:30 p.m., the Korean won stood at 1,400.0 per U.S. dollar, up 3.4 won from the previous session.
In the main board (KOSPI) market, institutional investors net sold 187.1 billion won, exerting downward pressure on the index. In contrast, individual and foreign investors were net buyers of 63.2 billion won and 68.0 billion won, respectively. However, the foreign net buying volume was about half of the previous day’s total of 130 billion won. In the KOSPI 200 futures market, foreign investors recorded net purchases of 106.0 billion won.
Despite optimism over the U.S.-U.K. trade agreement, the KOSPI’s upward momentum was capped as the won/dollar exchange rate approached the psychologically important 1,400 level.
Investor caution also intensified ahead of the first round of U.S.-China trade negotiations, scheduled to be held in Switzerland on May 10. Market participants expect trade talks with countries other than the U.K. to present greater challenges.
Lee Kyung-min, an analyst at Daishin Securities, stated, “The KOSPI gave up its early gains amid exchange rate volatility and turned slightly negative. Investor sentiment weakened ahead of the high-level U.S.-China talks expected over the weekend.”
Among major large-cap stocks, SK hynix(000660) fell 0.11%, LG Energy Solution(373220) declined 2.90%, Hanwha Aerospace(012450) dropped 0.57%, KB Financial Group(105560) lost 2.65%, and Meritz Financial Group(138040) slid 2.64%.
In contrast, Samsung Electronics(005930) rose 0.37%, while Samsung Biologics(207940) (0.39%), Hyundai Motor(005380) (1.50%), Kia(000270) (1.71%), and NAVER(035420) (1.22%) also finished higher.
Lotte Shopping(023530) jumped 8.42% to a new 52-week high after reporting strong Q1 earnings and on expectations that it will benefit as the major shareholder of Lotte Cultureworks following news of a merger between Lotte Cinema and Megabox.
By industry, medical precision (-4.97%), construction (-2.01%), and chemicals (-1.18%) declined, while utilities (1.61%) and telecommunications (0.66%) advanced.
The KOSDAQ also declined, ending the day at 722.52, down 7.07 points (0.97%) from the previous session. The index opened at 731.01, up 1.42 points (0.19%), but reversed direction and extended losses through the session.
In the KOSDAQ market, foreign and institutional investors net sold 265.8 billion won and 81.9 billion won, respectively, while individual investors were net buyers of 376.9 billion won.
Battery-related stocks declined, with EcoPro BM(247540) down 5.78% and EcoPro(086520) falling 3.08%. Other notable decliners included Alteogen(196170) (-2.13%), Rainbow Robotics(277810) (-3.72%), and Classys(214150) (-0.14%).
On the other hand, YG Entertainment(122870) surged 10.22% to a 52-week high after reporting first-quarter earnings that significantly exceeded market expectations. Other gainers included SM Entertainment(041510) (3.10%), HLB(028300) (1.40%), PharmaResearch(214450) (2.03%), and Pearl Abyss(263750) (4.37%).
Total trading value reached 8.018 trillion won on the KOSPI and 7.411 trillion won on the KOSDAQ.