[Edaily Reporter kyoungeun kim ] The KOSPI index opened lower on the 24th, weighed down by weakness in large-cap stocks such as SamsungElectronics.
According to MP Doctor, as of 9:05 a.m. today, the KOSPI is trading at 6,837.35, down 75.60 points (1.09%) from the previous trading day.
By investor type, retail investors are net buyers of 321.3 billion won, helping to prop up the index, while foreign and institutional investors are net sellers of 206.8 billion won and 129.3 billion won, respectively.
The aftermath of SamsungElectronics giving up its gains in after-hours trading (NXT) following the announcement of its massive shareholder return plan (50% of cumulative free cash flow from 2024 to 2026, totaling up to 110 trillion won) after the market closed last Friday continues to be felt into the early trading session today.
While SamsungElectronics continues to face disappointment over a shareholder return policy that fell short of market expectations, SK hynix is showing relatively steady performance as expectations remain high for expanded shareholder returns, including aggressive share buybacks and cancellations.
Top-market-cap stocks are trading lower, led by Samsung Group stocks. SamsungElectronics(005930)is trading at 266,000 won, down 15,500 won (5.51%), while SamsungElectronics(1P)(005935)has plunged 16,500 won (7.97%) to 190,500 won. Samsung Life Insurance(032830)(-4.11%) and SAMSUNG C&T CORPORATION(028260)(-5.06%) are also falling in tandem. In contrast, SK hynix(000660)is trading at 1,756,000 won, up 26,000 won (1.50%), and LG Energy Solution(373220)is trading at 351,000 won, up 7,500 won (2.18%), painting a contrasting picture. HyundaiMotor(005380)(+0.24%) and SAMSUNG BIOLOGICS(207940)(unchanged) saw only slight fluctuations.
This week, the domestic stock market faces a “super week” packed with major events, including the Jackson Hole Conference, the U.S. July Personal Consumption Expenditures (PCE) Price Index, the Bank of Korea’s Monetary Policy Committee meeting, and NVIDIA’s earnings report.
Han Ji-young, an analyst at KIWOOM Securities, stated, “This week will be a test of whether the upside constraints—uncertainty over long-term interest rates and controversy surrounding AI investments—can be alleviated by the Jackson Hole Conference, the PCE data, and NVIDIA’s earnings,” adding, “We have secured a downside buffer in the form of large-scale shareholder returns from leading stocks.” She projected a trading range of 6,500 to 7,500 points for the KOSPI this week.
The KOSDAQ index is currently trading at 811.46, up 9.52 points (1.19%) from the previous trading day. While retail investors and foreign investors are net buyers of 10 billion won and 8.6 billion won, respectively, institutional investors are the only net sellers, offloading 14.4 billion won.
ECOPRO CO., LTD(086520)Secondary battery-related stocks, such as (+4.90%) and ECOPRO BM CO., LTD.(247540)(+4.92%), are leading the rally, while JUSUNG ENGINEERING Co.,Ltd.(036930)(+1.60%) is also rising. In contrast, Alteogen Inc.(196170)(-1.25%) and Rainbow Robotics(277810)(-1.43%) are trading lower.
Meanwhile, on the New York Stock Exchange last weekend on the 21st (local time), the Dow Jones Industrial Average rose 0.98% to 53,277.01, the S&P 500 Index rose 0.43% to 7,674.37, and the Nasdaq rose 0.44% to 26,180.46. According to S&P Global data, the U.S. services sector Purchasing Managers’ Index (PMI) for August recorded its fastest growth in 20 months, leading to a rebound driven primarily by cyclical stocks. However, the Philadelphia Semiconductor Index fell 0.5%.