[Edaily Reporter Kim Kyung-eun ] Early in trading on the 7th, the KOSPI fell below the 8,000 mark. Although SamsungElectronics(005930)announced its largest-ever second-quarter earnings, the downward trend appears to be continuing due to a “sell-on” phenomenon (a situation where stock prices fall despite positive news).

According to MP Doctor, as of 9:04 a.m. today, the KOSPI index is trading at 7,845.89, down 205.44 points (2.55%) from the previous trading day. The index opened at 7,919.20, down 131.13 points (1.64%) from the previous close, and has continued to decline.

In the market, retail investors are net buyers of 164.8 billion won, institutional investors are net buyers of 41.2 billion won, and foreign investors are net sellers of 202.2 billion won.

By sector, entertainment and culture, medical and precision instruments, non-metals, and IT services are showing strength. In contrast, transportation equipment and parts, machinery and equipment, construction, metals, manufacturing, and electrical and electronics are weak.

Although semiconductor stocks rebounded on the New York Stock Exchange overnight and SamsungElectronics announced its best-ever quarterly earnings today, its stock price appears to be struggling to gain momentum. This is interpreted as profit-taking selling pressure, as the stock price had already risen sharply due to expectations being priced in ahead of the earnings announcement.

Today, SamsungElectronics announced preliminary results showing consolidated revenue of 171 trillion won and operating profit of 89.4 trillion won for the second quarter of this year. These are record-high results, representing year-over-year increases of 129.31% and 1,810.26%, respectively.

However, as of this writing, SamsungElectronics(005930)is trading at 303,000 won, down 15,000 won (4.72%) from the previous trading day. SK hynix(000660), one of the top two semiconductor companies, is also trading at 2,303,000 won, down 40,000 won (1.71%) from the previous close.

Han Ji-young, an analyst at KIWOOM Securities, stated, “The key short-term focus today is whether there will be a sell-off following the release of SamsungElectronics’ preliminary earnings or whether there will be a rebound in buying activity as the market overcomes sector-specific noise,” adding, “Whether the KOSPI—including semiconductor stocks—can regain its earnings momentum for the remainder of this week will determine the strength of the market’s recovery.”

Among other top-market-cap stocks, SamsungElectroMechanics(009150)(1.09%), KB Financial Group(105560)(1.64%), and Celltrion(068270)(0.23%) are showing slight gains. In contrast, most others—including SKSQUARE(402340)(-4.01%), HyundaiMotor(005380)(-4.48%), LG Energy Solution(373220)(-2.82%), Samsung Life Insurance(032830)(-2.67%), and SAMSUNG C&T CORPORATION(028260)(-2.34%)—are trading lower.

Hanwha Ocean(042660), which suffered a setback in the Canadian Next-Generation Submarine Program (CPSP), is trading at 90,400 won, down 25,700 won (22.14%) from the previous session.

At the same time, the KOSDAQ index is trading at 855.62, up 8.55 points (1.10%) from the previous trading day. The index opened at 843.74, down 3.33 points (0.39%) from the previous close, but has since turned positive.

By investor type, retail investors recorded net sales of 29.5 billion won, while foreign and institutional investors recorded net purchases of 2.8 billion won and 28.2 billion won, respectively.

The two stocks with the highest market capitalizations showed mixed performance. Alteogen Inc.(196170)is trading at 339,000 won, up 8,000 won (2.42%) from the previous close, while ECOPRO BM CO., LTD.(247540)is trading at 121,500 won, down 200 won (0.16%).

Among other top-market-cap stocks, ECOPRO CO., LTD(086520)(0.35%), JUSUNG ENGINEERING Co.,Ltd.(036930)(5.61%), Kolon TissueGene, Inc.(950160)(5.78%), and HLB INC.(028300)(1.74%) are showing gains. On the other hand, LEENO Industrial Inc(058470)(-2.00%), EO Technics Co., Ltd.(039030)(-1.89%), and SIMMTECH Co., Ltd.(222800)(-1.10%) are trading lower.