사진 확대
The KOSPI surpassed the 7,100-point mark during the day on the 8th, but failed to settle down to the 7,000-point mark as it turned downward at the end of the regular market. Unrest in the Middle East and vigilance over U.S. price indicators have weighed on investor sentiment amid large net selling by individual investors led by Samsung Electronics and SK Hynix. Construction and department store stocks were strong, but they were not enough to support the index as the upward momentum of large semiconductor stocks weakened.
According to the Korea Exchange, the KOSPI closed at 6,954.52, down 40.87 points (0.58%) from the previous trading day. It closed lower for the first time in four trading days. The KOSPI soared to 7,171.52 during the day after recovering the 7,000-point level at the opening, but returned the gains and fell to 6,951.78 at one point.
The gap between the KOSPI’s intraday highs and lows was 219.74 points, 1.7 times higher than the previous day (127.49 points). This month, it was the second largest after the 3rd (243.48 points). It has also exceeded the average daily intraday fluctuation (207 points) over the past month.
The stock market started higher on the day, reflecting expectations for investment in semiconductors from OpenAI, but it weighed on external instability in the afternoon. Lee Kyung-min, a researcher at Daishin Securities, said, “In the midst of the conflict between the U.S. and Iran, the preference for risky assets has weakened as international oil prices have risen.”
Regular changes in the index are also considered a variable for future supply and demand of large semiconductor stocks. Mirae Asset Securities predicted that in the process of adjusting the weight of KRX Semiconductor Index by stock, a total of 1.4 trillion won could be sold, including about 1.2 trillion won from SK Hynix and about 200 billion won from Samsung Electronics. The index applies a 20% upper limit to the proportion of individual stocks during regular changes. According to the report, the proportion of SK Hynix and Samsung Electronics is 36.7% and 22.8%, respectively, exceeding the upper limit. It is explained that demand for selling may occur when exchange-traded funds (ETFs) that follow the index lower their holdings accordingly. The regular change will take effect on the 11th, and ETF trading reflecting this is expected to be concentrated near the closing price of the 10th.
On the same day, individuals sold a net 3.33 trillion won on the KOSPI. Foreigners and institutions made net purchases of 632 billion won and 643 billion won, respectively, showing mixed moves with individuals.
Individuals sold Samsung Electronics worth 2.113 trillion won and SK Hynix worth 1.335 trillion won. Net sales of the two stocks alone amounted to 3.448 trillion won. For Samsung Electronics, foreigners and institutions bought 914 billion won and 664 billion won, respectively. As for SK Hynix, foreigners bought a net 180 billion won, while institutions sold a net 28 billion won.
Samsung Electronics, which led the index’s gains during the day, ended 0.19 percent lower, while SK hynix gained only 0.56 percent.
[Reporter Shin Yoonjae]