The KOSPI plunged more than 3% today (the 13th), Monday, and slipped until just before the 2,500 line collapsed.
Today, the KOSPI closed at 2,504.51, down 91.36 points (3.52%) from the previous trading day.
The index opened at 2,550.21, down 45.66 points (1.76%) from the battlefield in the aftermath of the US price shock announced on the 10th local time, and plunged from the beginning of the market, and increased the decline in the afternoon.
Following the breaking of the previous year-end low (2,546.80) recorded on the 12th of last month, the closing price recorded the lowest level in a year and seven months since November 13, 2020 (2,493.97).
Today's KOSPI drop is the largest since August 20, 2020 (-3.66%).
The KOSPI fell 3.50% on January 27, following the US Federal Reserve's Federal Open Market Committee (FOMC) regular meeting, due to worsening investor sentiment and the listing of LG Energy Solutions.
The U.S. Department of Labor reported on the 10th (local time) that the consumer price index (CPI) rose 8.6% in May compared to the same period last year.
It was the highest growth rate since December 1981, and investor sentiment deteriorated as market expectations that inflation would pass its peak were dampened.
At the Federal Open Market Committee (FOMC) meeting in June to be held from the 14th to the 15th, concerns were raised in the market that it could go beyond the big step (0.5 percentage point increase) to the giant step (0.75 percentage point increase).
Seo Sang-young, a researcher at Mirae Asset Securities, said, "The stock market was sold out of concerns that the Fed's aggressive interest rate hike could continue due to the maintenance of high inflation." This has weakened the market's backlash buying sentiment," he said.
In the stock market, foreigners sold 500.6 billion won and institutions sold 217.8 billion won, leading the decline in the index.
On the other hand, individuals bought 667.7 billion won and started buying at low prices.
The won/dollar exchange rate rose 15.1 won to close at 1,284.0 won, putting a burden on foreign demand.
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Samsung Electronics, the 'big stock', fell 2.66% to 62,100 won, rewriting the 52-week low, and Naver (-5.93%), Kakao (-4.49%), the leading technology stocks in the domestic stock market, Kakao Pay (-10.22%), Kakao Bank (-8.05%), Hive (-10.96%), and SK Bioscience (-6.61%) also fell sharply, breaking new 52-week lows.
By industry, textile/apparel (-4.27%), steel/metal (-3.99%), machinery (-4.83%), transportation equipment (-4.13%), construction (-5.18%), medical precision (-6.85%) , banking (-6.30%), and all other sectors were weak.
The KOSDAQ market, centered on growth stocks, was hit harder.
The KOSDAQ index closed at 828.77, down 41.09 points (4.72%) from the previous trading day, recording the lowest point in about a year and 10 months since August 3, 2020 (827.57) based on the closing price.
The KOSDAQ decline is the largest since June 15, 2020 (-7.09%).
The index opened at 852.74, down 17.12 points (1.97%) from the previous market, increasing the decline from the beginning of the market.
In the KOSDAQ market, institutions net sold KRW 70.4 billion, while foreigners net bought KRW 43.3 billion and individuals net bought KRW 25.9 billion.
Kakao Games (-4.30%), HLB (-2.54%), Pearl Abyss (-5.65%), Celltrion Pharm (-4.00%), and Wemade (-4.32%) in the top market cap showed a decline of 4-5%. .
Transactions in the KOSPI were KRW 9.606 trillion and the KOSDAQ market was KRW 8,326 billion.
Most of the stocks listed on the domestic stock market performed poorly.
Today, the KOSPI market cap decreased by about 71 trillion won and the KOSDAQ market cap by about 17 trillion won, respectively, and a total of 88 trillion won evaporated from the stock market.
(Photo = Yonhap News)