[Edaily Reporter Hyera Lee ] On the first trading day of the second half of the year, the two major indices closed mixed. The KOSPI fell by more than 2% as the top two semiconductor stocks slumped, while the KOSDAQ closed up by more than 1% on expectations of market structural improvements, despite concerns over deteriorating investor sentiment toward major stocks.

According to MP Doctor on the 1st, the KOSPI closed at 8,303.41, down 173.07 points (2.04%) from the previous day.
The index opened higher. However, as the two major market participants— SamsungElectronics(005930)and SK hynix(000660)—shunned the market that day, semiconductor stocks turned bearish, and the index soon followed suit. The KOSPI fell as much as 3% at one point in the morning, dropping to the mid-8,100 range, but recovered some of its losses in the afternoon to close in the 8,300 range.
Foreign selling pressure has been weighing on the market for consecutive days. Foreign investors have been net sellers on the KOSPI for nine consecutive trading days as of today. They sold nearly 2.3 trillion won worth of shares today. Institutions joined in, recording a net sell of 80.7 billion won. In contrast, retail investors continued to buy large volumes today, purchasing 2.0331 trillion won worth of shares.
Program trading showed a net sell position of 1.6033 trillion won, combining both arbitrage and non-arbitrage trades.
Stocks with the highest market capitalization closed mixed.
Among the top 10 stocks by market capitalization, four rose: SKSQUARE(402340), SamsungElectroMechanics(009150), SAMSUNG BIOLOGICS(207940), and HD HYUNDAI HEAVY INDUSTRIES(329180).
SamsungElectronics(005930) SK hynix(000660)and closed down 5.84% and 3.40%, respectively. Performance varied among Samsung-related stocks. and fell by 3–7%, while posted gains. Samsung Life Insurance(032830) SAMSUNG C&T CORPORATION(028260) SamsungElectroMechanics(009150)
In other news, HANWHA AEROSPACE jumped 9.65% to close at 1,091,000 won.
The KOSDAQ index rose 13.17 points (1.44%) from the previous trading day to close at 929.35 points.
Although the KOSDAQ index briefly turned negative early in the session, it shifted to an upward trend starting at 9:12 a.m. The index subsequently extended its gains, rising as much as 4% at one point and regaining the 955 level.
This was driven by buying interest in semiconductor materials, parts, and equipment stocks, which capitalized on a lull in large-cap stocks that had previously led the market.
In addition, expectations for an overall improvement in the KOSDAQ market’s fundamentals are believed to have played a role. The Korea Exchange held a “KOSDAQ 30th Anniversary Commemoration Event” in Yeouido that day.
Lee Eun-won, Chairman of the Financial Services Commission, stated, “Improving the KOSDAQ’s fundamentals is a task that can no longer be delayed for the sake of the KOSDAQ’s future and the great leap forward of our economy,” adding, “We will pursue fundamental and structural reforms so that the KOSDAQ can become the ultimate destination for growth stock investments and leap forward as the world’s leading technology stock market.” To this end, Chairman Lee emphasized support for the smooth growth and listing of innovative companies, structural reforms to prioritize outstanding firms and foster mutually beneficial growth with other companies, as well as enhancing market confidence and providing robust investor protection.
Jeong Eun-bo, Chairman of the Korea Exchange, also stated that the exchange would embark on improving the market’s fundamentals by actively identifying high-quality companies and swiftly weeding out underperforming and struggling firms as key tasks for market reform.
In the KOSDAQ market, foreign investors made net purchases of 170.2 billion won. Retail and institutional investors were net sellers by 77.0 billion won and 104.2 billion won, respectively.
Program trading showed a net buying position of 22.2 billion won, combining both arbitrage and non-arbitrage trades.
However, gains in the KOSDAQ market were limited today due to news regarding ECOPRO CO., LTD(086520) and ECOPRO BM CO., LTD.(247540).
ECOPRO CO., LTD(086520) ECOPRO BM CO., LTD.(247540)and closed down 6.88% and 12.76%, respectively, on the day. ECOPRO BM CO., LTD. announced after the close of regular trading the previous day that it had decided to conduct a rights offering followed by a public offering of unsubscribed shares to raise approximately 1.2 trillion won. The scale of the capital increase corresponds to 8.61% of the company’s market capitalization at the close of regular trading the previous day. The holding company, ECOPRO CO., LTD., decided to participate in the subscription.
Among the top-market-cap stocks, some semiconductor materials, parts, and equipment (MPE) stocks held their ground. JUSUNG ENGINEERING Co.,Ltd.(036930)closed up in the 20% range, while LEENO Industrial Inc(058470) and PSK INC.(319660) also rose.
The top-performing sectors across both markets were electrical equipment, aerospace and defense, and energy equipment and services, in that order, while the sectors that declined were electronic products, semiconductors and semiconductor equipment, and oil and gas, in that order.
Han Ji-young, an analyst at KIWOOM Securities, said, “This month, the market is expected to return to an upward trajectory, breaking previous highs,” adding, “There is a possibility of a corrective move emerging due to concentration in a few sectors, such as semiconductors.” She continued, “Considering that KOSPI earnings estimates may be revised upward during the second-quarter earnings season, we expect stock prices to move to higher levels,” adding, “The macroeconomic uncertainties that previously justified the dominance of the semiconductor sector are expected to improve due to falling oil prices resulting from the ceasefire and the possibility of inflation peaking out. This is expected to increase the likelihood of a rotation in market sentiment.”
KIWOOM Securities projected a July range for the KOSPI of 7,800–9,800 points. It highlighted semiconductors, securities, retail, and defense as sectors to watch.