On July 4, the benchmark KOSPI fell 2% retreating to the mid-3,050 range and reversing gains from the previous session.
The KOSPI closed at 3,054.28, down 61.99 points, or 1.99%, from the previous session. The index had opened at 3,122.28, up 6.01 points (0.1%), but quickly turned negative and continued to decline throughout the day, briefly dropping more than 2% in late trading. This marked a reversal after hitting a fresh yearly high of 3,116.27 at the previous close.
In the main board, foreign investors turned net buyers late in the session with a net purchase of 162.4 billion won, though this was insufficient to support the index. Retail investors bought a net 257.3 billion won, while institutional investors sold 444.1 billion won, ending their six-day net buying streak.
In KOSPI 200 futures, foreigners posted a net sell of 378.5 billion won, adding downward pressure to the index.
As of 3:30 p.m., the Korean won stood at 1,362.3 per dollar, up 2.9 won from the previous session.
Lee Kyung-min, an analyst at Daishin Securities, said, “Stronger-than-expected U.S. June employment data, released the previous day, led to a pullback in expectations for a July rate cut, weighing on Asian equities.”
Market sentiment was further dampened by concerns over valuation following the recent peak and growing caution ahead of the July 8 deadline for the U.S. tariff moratorium, with the possibility of increased pressure from the U.S. over the weekend contributing to risk-off sentiment.
Samsung Electronics (005930), which had surged nearly 5% in the previous session, ended down 0.78%. SK hynix (000660) extended its losing streak to four sessions, falling 2.87%.
Battery-related stocks also weakened, with LG Energy Solution (373220) down 2.51%, Samsung SDI (006400) losing 2.27%, and L&F (066970) declining 2.73%.
Investor sentiment was hit by news that a large-scale U.S. tax reform package passed overnight would scale back benefits for electric vehicle buyers.
Defense stocks also saw sharp losses, with Hyundai Rotem (064350) down 7.9%, Poongsan (103140) falling 4.58%, and Hanwha Aerospace (012450) declining 4.65%.
Holdings companies such as HS Hyosung (487570), Kolon (002020), Hyosung (004800), and LS (006260) also fell, as momentum from the National Assembly’s passage of the Commercial Act amendment faded.
Among top market-cap stocks, only Celltrion (068270) gained, rising 3.31%. Other large caps, including Samsung Biologics (207940) (-0.57%), Hyundai Motor (005380) (-1.86%), KB Financial (105560) (-4.11%), Kia (000270) (-1.0%), and NAVER (035420) (-1.58%), ended lower.
By industry, only electricity & gas (up 3.37%), real estate (0.37%), and pharmaceuticals (0.04%) advanced, while most others declined, led by securities (-5.74%), transport equipment (-3.64%), and machinery (-3.06%).
The KOSDAQ closed at 775.80, down 17.53 points, or 2.21%. The index had opened at 792.65, down 0.68 points (0.09%), and quickly widened its losses.
In the KOSDAQ market, foreigners and institutions sold a net 321.9 billion won and 79.3 billion won, respectively, while individual investors purchased a net 397.8 billion won.
Newgen AI(463020), the first IPO of the second half of the year, surged 156% from its IPO price of 15,000 won.
Most major KOSDAQ stocks declined, including Alteogen (196170) (-5.65%), EcoPro BM (247540) (-1.98%), HLB (028300) (-1.1%), EcoPro (086520) (-2.6%), and Rainbow Robotics (277810) (-2.9%).
According to the Korea Exchange, trading value amounted to 13.25 trillion won on the main board and 5.99 trillion won on the KOSDAQ.
On July 4, the benchmark KOSPI fell 2% retreating to the mid-3,050 range and reversing gains from the previous session.
The KOSPI closed at 3,054.28, down 61.99 points, or 1.99%, from the previous session. The index had opened at 3,122.28, up 6.01 points (0.1%), but quickly turned negative and continued to decline throughout the day, briefly dropping more than 2% in late trading. This marked a reversal after hitting a fresh yearly high of 3,116.27 at the previous close.
In the main board, foreign investors turned net buyers late in the session with a net purchase of 162.4 billion won, though this was insufficient to support the index. Retail investors bought a net 257.3 billion won, while institutional investors sold 444.1 billion won, ending their six-day net buying streak.
In KOSPI 200 futures, foreigners posted a net sell of 378.5 billion won, adding downward pressure to the index.
As of 3:30 p.m., the Korean won stood at 1,362.3 per dollar, up 2.9 won from the previous session.
Lee Kyung-min, an analyst at Daishin Securities, said, “Stronger-than-expected U.S. June employment data, released the previous day, led to a pullback in expectations for a July rate cut, weighing on Asian equities.”
Market sentiment was further dampened by concerns over valuation following the recent peak and growing caution ahead of the July 8 deadline for the U.S. tariff moratorium, with the possibility of increased pressure from the U.S. over the weekend contributing to risk-off sentiment.
Samsung Electronics (005930), which had surged nearly 5% in the previous session, ended down 0.78%. SK hynix (000660) extended its losing streak to four sessions, falling 2.87%.
Battery-related stocks also weakened, with LG Energy Solution (373220) down 2.51%, Samsung SDI (006400) losing 2.27%, and L&F (066970) declining 2.73%.
Investor sentiment was hit by news that a large-scale U.S. tax reform package passed overnight would scale back benefits for electric vehicle buyers.
Defense stocks also saw sharp losses, with Hyundai Rotem (064350) down 7.9%, Poongsan (103140) falling 4.58%, and Hanwha Aerospace (012450) declining 4.65%.
Holdings companies such as HS Hyosung (487570), Kolon (002020), Hyosung (004800), and LS (006260) also fell, as momentum from the National Assembly’s passage of the Commercial Act amendment faded.
Among top market-cap stocks, only Celltrion (068270) gained, rising 3.31%. Other large caps, including Samsung Biologics (207940) (-0.57%), Hyundai Motor (005380) (-1.86%), KB Financial (105560) (-4.11%), Kia (000270) (-1.0%), and NAVER (035420) (-1.58%), ended lower.
By industry, only electricity & gas (up 3.37%), real estate (0.37%), and pharmaceuticals (0.04%) advanced, while most others declined, led by securities (-5.74%), transport equipment (-3.64%), and machinery (-3.06%).
The KOSDAQ closed at 775.80, down 17.53 points, or 2.21%. The index had opened at 792.65, down 0.68 points (0.09%), and quickly widened its losses.
In the KOSDAQ market, foreigners and institutions sold a net 321.9 billion won and 79.3 billion won, respectively, while individual investors purchased a net 397.8 billion won.
Newgen AI(463020), the first IPO of the second half of the year, surged 156% from its IPO price of 15,000 won.
Most major KOSDAQ stocks declined, including Alteogen (196170) (-5.65%), EcoPro BM (247540) (-1.98%), HLB (028300) (-1.1%), EcoPro (086520) (-2.6%), and Rainbow Robotics (277810) (-2.9%).
According to the Korea Exchange, trading value amounted to 13.25 trillion won on the main board and 5.99 trillion won on the KOSDAQ.