As the first quarter of negative growth materializes, the KOSPI index is slightly declining despite the strong U.S. stock market. The KOSDAQ is also showing a slight downturn.
As of 11:07 a.m. on this day, the KOSPI index shows a decline of 14.29 points (0.57%) from the previous day, standing at 2511.27. In the securities market, individuals are buying nearly 300 billion won on their own. Foreign and institutional investors are net selling 244.8 billion won and 76.1 billion won, respectively. Although it rose in early trading, the downtrend has become clear following the announcement of gross domestic product (GDP).
Most of the top market capitalization stocks are showing declines. Samsung Electronics, LG Energy Solution, Samsung Biologics, Kia, and KB Financial are all weak. Hanwha Aerospace and Doosan Enerbility are exceptions with strong performances. The stock price of SK hynix, which reported the second-best performance in quarterly results, is also dropping nearly 2%.
The real GDP growth rate for the first quarter of this year (January to March) announced in the morning is negative (-) 0.2%, indicating a contraction. This is below the Bank of Korea's forecast of 0.2%, suggesting that negative growth has materialized and investment sentiment has weakened.
At the same time, the KOSDAQ index recorded a decrease of 1.21 points (0.17%), standing at 724.87. In the KOSDAQ market, only individuals have stepped in to 'buy,' net purchasing 83.2 billion won and supporting the index. Foreign and institutional investors are selling 43.9 billion won and 35.6 billion won, respectively.
The top KOSDAQ market capitalization stocks are mixed. HUGEL, CLASSYS, and DONGJIN SEMICHEM are rising more than 2%. PharmaResearch is recording a rise of 3.35%. Meanwhile, Alteogen, Ecopro, ECOPRO BM, HLB, EcoPro, and Rainbow Robotics are all declining.
In the Seoul foreign exchange market, the won (won/dollar) exchange rate is up 0.18% compared to the previous day, standing at 1430 won.