On January 13, the KOSPI, which had surged past the 3,600 mark immediately after the end of the extended holiday, opened lower amid renewed concerns over escalating U.S.-China trade tensions over the weekend but has since pared some of its early losses.
As of 9:22 a.m., the KOSPI was at 3,560.26, down 50.34 points (1.39%) from the previous session. The index opened at 3,550.08, down 60.52 points (1.68%), and briefly declined to 3,522.54 before trimming the decline.
In the Seoul foreign exchange market, the Korean won began the session at 1,430.0 won against the U.S. dollar, up 9.0 won from the previous close.
In the main bourse, foreign investors were net sellers of 305 billion won, dragging the index lower. Retail investors and institutions were net buyers of 209.4 billion won and 81.7 billion won, respectively.
In the KOSPI 200 futures market, foreigners were net sellers of 263.1 billion won, while individuals (26 billion won) and institutions (234.4 billion won) showed net buying.
At the end of last week, the New York stock market closed sharply lower on fears that U.S.-China trade tensions would re-escalate.
The Dow Jones Industrial Average fell 1.90%, while the S&P 500 and Nasdaq Composite dropped 2.71% and 3.56%, respectively.
The trigger was U.S. President Donald Trump’s criticism of China’s moves to restrict rare earth exports and his declaration that he would impose an additional 100% tariff on China starting next month.
Concerns have grown that the two countries may resume a trade conflict after having entered a truce in May, when they agreed at trade talks in Switzerland to each lower tariffs by 115% following a high-tariff exchange in early April.
However, market fears have eased somewhat as both Washington and Beijing signaled early this morning, Korea time, that they do not seek a head-on confrontation and are moving to manage the situation.
Trump said on Truth Social, “Do not worry about China. Everything will be fine,” adding, “The United States is not trying to hurt China, but to help it.”
China’s Ministry of Commerce also stated that it “does not want a fight,” leaving room for dialogue. Bloomberg reported that futures for the S&P 500 and Nasdaq 100 rebounded by around 1% in response.
Against this backdrop, Samsung Electronics(005930) and SK Hynix(000660) were down 2.75% and 3.97%, respectively.
Among large-cap stocks, Doosan Enerbility(034020) (1.48%), HD Hyundai Heavy Industries(329180) (1.17%), Hanwha Ocean(042660) (0.73%) and Hyundai Motor(005380) (0.23%) gained, while NAVER(035420) (-2.24%), Celltrion(068270) (-1.38%), KB Financial Group(105560) (-0.62%), Samsung Biologics(207940) (-0.30%) and Hanwha Aerospace(012450) (-0.29%) declined.
By sector, entertainment and culture (2.15%), metals (1.40%) and machinery and equipment (0.26%) advanced, while electrical and electronics (-2.64%), securities (-2.46%), medical and precision (-2.20%), IT services (-1.89%), manufacturing (-1.67%), transportation and warehousing (-1.60%) and insurance (-1.55%) were weak.
At the same time, the KOSDAQ index was at 851.44, down 8.05 points (0.94%). The index opened at 845.76, down 13.73 points (1.60%), and has been recovering since.
In the KOSDAQ market, individuals were net sellers of 24.8 billion won, while foreigners and institutions were net buyers of 17 billion won and 9.2 billion won, respectively.
Among leading KOSDAQ stocks, gains and losses were mixed. PharmaResearch(214450) (2.03%), HLB(028300) (1.22%), Caregen(214370) (1.11%) and Kolon TissueGene(950160) (0.78%) advanced, while Alteogen(196170) (-2.17%), Peptron(087010) (-2.89%) and Rainbow Robotics(277810) (-2.43%) declined.
On January 13, the KOSPI, which had surged past the 3,600 mark immediately after the end of the extended holiday, opened lower amid renewed concerns over escalating U.S.-China trade tensions over the weekend but has since pared some of its early losses.
As of 9:22 a.m., the KOSPI was at 3,560.26, down 50.34 points (1.39%) from the previous session. The index opened at 3,550.08, down 60.52 points (1.68%), and briefly declined to 3,522.54 before trimming the decline.
In the Seoul foreign exchange market, the Korean won began the session at 1,430.0 won against the U.S. dollar, up 9.0 won from the previous close.
In the main bourse, foreign investors were net sellers of 305 billion won, dragging the index lower. Retail investors and institutions were net buyers of 209.4 billion won and 81.7 billion won, respectively.
In the KOSPI 200 futures market, foreigners were net sellers of 263.1 billion won, while individuals (26 billion won) and institutions (234.4 billion won) showed net buying.
At the end of last week, the New York stock market closed sharply lower on fears that U.S.-China trade tensions would re-escalate.
The Dow Jones Industrial Average fell 1.90%, while the S&P 500 and Nasdaq Composite dropped 2.71% and 3.56%, respectively.
The trigger was U.S. President Donald Trump’s criticism of China’s moves to restrict rare earth exports and his declaration that he would impose an additional 100% tariff on China starting next month.
Concerns have grown that the two countries may resume a trade conflict after having entered a truce in May, when they agreed at trade talks in Switzerland to each lower tariffs by 115% following a high-tariff exchange in early April.
However, market fears have eased somewhat as both Washington and Beijing signaled early this morning, Korea time, that they do not seek a head-on confrontation and are moving to manage the situation.
Trump said on Truth Social, “Do not worry about China. Everything will be fine,” adding, “The United States is not trying to hurt China, but to help it.”
China’s Ministry of Commerce also stated that it “does not want a fight,” leaving room for dialogue. Bloomberg reported that futures for the S&P 500 and Nasdaq 100 rebounded by around 1% in response.
Against this backdrop, Samsung Electronics(005930) and SK Hynix(000660) were down 2.75% and 3.97%, respectively.
Among large-cap stocks, Doosan Enerbility(034020) (1.48%), HD Hyundai Heavy Industries(329180) (1.17%), Hanwha Ocean(042660) (0.73%) and Hyundai Motor(005380) (0.23%) gained, while NAVER(035420) (-2.24%), Celltrion(068270) (-1.38%), KB Financial Group(105560) (-0.62%), Samsung Biologics(207940) (-0.30%) and Hanwha Aerospace(012450) (-0.29%) declined.
By sector, entertainment and culture (2.15%), metals (1.40%) and machinery and equipment (0.26%) advanced, while electrical and electronics (-2.64%), securities (-2.46%), medical and precision (-2.20%), IT services (-1.89%), manufacturing (-1.67%), transportation and warehousing (-1.60%) and insurance (-1.55%) were weak.
At the same time, the KOSDAQ index was at 851.44, down 8.05 points (0.94%). The index opened at 845.76, down 13.73 points (1.60%), and has been recovering since.
In the KOSDAQ market, individuals were net sellers of 24.8 billion won, while foreigners and institutions were net buyers of 17 billion won and 9.2 billion won, respectively.
Among leading KOSDAQ stocks, gains and losses were mixed. PharmaResearch(214450) (2.03%), HLB(028300) (1.22%), Caregen(214370) (1.11%) and Kolon TissueGene(950160) (0.78%) advanced, while Alteogen(196170) (-2.17%), Peptron(087010) (-2.89%) and Rainbow Robotics(277810) (-2.43%) declined.