[Edaily Reporter Park Jeong-soo] The KOSPI, which opened lower, is extending its losses, falling more than 3% during the session. Institutions have turned to net selling and, along with foreign investors, are leading the decline, while retail investors are countering by buying on the dip.
According to MP Doctor as of 9:53 a.m. on the 10th, the KOSPI is trading at 7,829.19, down 3.31% (267.74 points) from the previous trading day.
Overnight, the New York stock market closed mixed as geopolitical tensions in the Middle East escalated once again. The U.S. carried out airstrikes against Iran in retaliation for the downing of a U.S. Apache attack helicopter, and Iran immediately announced its intention to respond, putting the ceasefire between the two countries signed last April in serious jeopardy.
On the 9th (local time), the Dow Jones Industrial Average closed at 50,872.11 on the New York Stock Exchange, up 0.17% from the previous trading day. In contrast, the S&P 500 index fell 0.26% to 7,386.65, and the Nasdaq Composite Index dropped 0.97% to 25,678.82. The Volatility Index (VIX), which reflects market anxiety, surged during the session to its highest level since April 7.
Han Ji-young, an analyst at Kiwoom Securities, assessed, “The domestic stock market is likely to continue its volatile trend, with supply and demand battling it out around the 8,000-point level due to short-term profit-taking following the previous day’s surge of over 8%.”
In the stock market, foreign and institutional investors are selling 1.3078 trillion won and 197.4 billion won worth of shares, respectively, while individual investors are showing a net buying position of 1.4442 trillion won. Program trading shows a net sell of 576.4 billion won, combining both arbitrage and non-arbitrage trades.
Declining sectors are dominating the market, with insurance stocks falling more than 5% and electrical and electronics stocks dropping in the 4% range. Manufacturing and distribution sectors are also down more than 3%. In contrast, real estate, textiles and apparel, and metals are showing slight gains.
Most of the top market cap stocks are down, with #Samsung Life Insurance and #Samsung C&T recording declines of over 6%, and #SK Square falling more than 5%. #Samsung Electronics, #Samsung Electro-Mechanics, and #SK Hynix are down around 4%, while #Doosan Enerbility and #LG Energy Solution are down more than 3%. In contrast, #HD Hyundai Heavy Industries is up by about 1%, and #Hanwha Aerospace is showing a slight increase.
The KOSDAQ market is also down 0.70% (6.76 points) from the previous trading day, currently at 961.05. While top-market-cap stocks are showing mixed performance, #Juseong Engineering is up around 7%, and #IOTechnics is rising by more than 6%. Conversely, #Pado is down around 4%.