In the aftermath of the US price shock, the KOSPI fell today (14th) following yesterday's, giving up the 2,500 line, which was considered a 'psychological resistance line'.



Today, the KOSPI closed at 2,492.97, down 11.54 points (0.46%) from the previous trading day, breaking the new low based on the closing price following yesterday.



It is the first time in one year and seven months since November 13, 2020 (2,493.87) that the KOSPI fell below the 2,500 line based on the closing price.



The index opened at 2,472.96, down 31.55 points (1.26%) from the battlefield in the aftermath of the sharp drop in the US stock market on the 13th local time, and fell to 2,457.39 at one point in the early trading session.



Afterwards, a backlash buying trend flowed in, and it briefly recovered to the 2,500 level during the day, but it failed to turn upward and fluctuated, ending trading at the 2,490 range.



Foreigners sold 278.5 billion won in the stock market, leading the decline in the index.



On the other hand, institutions bought 194.7 billion won and individuals 40.5 billion won, protecting the index from further decline.



At the Federal Open Market Committee (FOMC) meeting in June to be held from the 14th to the 15th, the prospect is growing that it can go beyond the big step (0.5 percentage point increase) to the giant step (0.75 percentage point increase).



According to the Chicago Mercantile Exchange (CME) group's FedWatch report on the 13th local time, there is a 93.0% chance that the Fed will raise the key interest rate by 0.75 percentage points at this meeting, and it has quadrupled from 23.2% the day before.



The US Consumer Price Index (CPI), announced on the 10th, rose 8.6% compared to the same month last year, recording the largest increase in 41 years since December 1981.



Kim Seok-hwan, a researcher at Mirae Asset Securities, said, "Both the KOSPI and KOSDAQ fell as concerns about an aggressive interest rate hike by the Federal Reserve increased due to high inflation the day before in the US stock market. “An inversion of the annual interest rate has even occurred, raising concerns about an economic recession,” he said.



At the top of the market cap, LG Energy Solutions (2.77%), announcing the expansion of a cylindrical battery production line to supply to Tesla, showed a remarkable rise, while other stocks were generally weak.



Samsung Electronics, the stock market leader, closed at 61,900 won, down 0.32%, breaking new 52-week lows for three consecutive days.



Naver (-0.39%) and Kakao (0.13%) also hit 52-week lows again during the day following the previous day.

By industry, all industries were weak except for electricity/electronics (0.03%) and transportation and warehouses (0.58%).



Paper and wood (-2.26%), steel and metal (-1.73%), machinery (-1.48%), and medical precision (-2.26%) all fell.



The KOSDAQ market went right before the 800 line collapsed, but succeeded in holding the 800 line.



The KOSDAQ index closed at 823.58, down 5.19 points (0.63%) from the previous trading day, recording the lowest point since October 19, 2020 (822.25) based on the closing price.



The index opened at 816.25, down 12.52 points (1.51%) from the battlefield, and at one time fell to 804.38, then reduced the decline.



In the KOSDAQ market, individuals net sold 97.7 billion won, institutions net 87.9 billion won, and foreigners net 3.6 billion won.