The KOSPI has regained the 3000 level during trading.
According to the Korea Exchange and others on the 23rd, as of 11:06 a.m., the KOSPI index recorded a drop of 19.85 points (0.66%) to 3001.99 compared to the previous trading day.
The index started off 29.64 points (0.98%) lower at 2992.20 and fell as low as 2971.36, but managed to recover the 3000 level narrowly.
Individuals are defending against the index decline by net purchasing over 1 trillion won, particularly focusing on large-cap KOSPI stocks. However, institutions and foreigners are net selling 572.8 billion won and 426.4 billion won, respectively.
Over the weekend, the U.S. directly attacked Iran's nuclear facilities, and Iran responded by blocking the Strait of Hormuz, a global energy transport route, which has heightened downward pressure on the stock market.
Kim Ji-hyun, a researcher at DAOL Investment & Securities, noted, "U.S. involvement has extended Middle East risks," adding, "there is a possibility of short-term adjustments in the KOSPI."
In fact, on the previous trading day, on the 20th, the KOSPI recovered '3000' for the first time in three years and six months, but it is now at risk of falling below the 3000 level just one trading day later.
By individual stocks, large-cap KOSPI stocks are generally weak. Shares of Samsung Electronics, the top company by market capitalization, have fallen over 2%, while SK hynix's stock is also underperforming.
Shares of Samsung Biologics, LG Energy Solution, and Hanwha Aerospace are also weak. Meanwhile, Hyundai Motor's stock is down over 3%.
Among the top 10 stocks by KOSPI market capitalization, only three stocks, NAVER, Doosan Enerbility, and KB Financial, have seen price increases.
At the same time, the KOSDAQ index showed a decline of 11.22 points (1.42%) to 780.31. The index started at 779.67, down 11.86 points (1.50%) compared to the previous session, and has reduced its losses.
Similar to the KOSPI, the majority of the top market cap stocks are declining. Stocks of Alteogen, Ecopro, HLB, and Ecopro are all down over 2%.