The South Korean stock market closed lower on September 15, pressured by simultaneous selling from foreign and institutional investors. The KOSPI started the day weak but appeared to recover slightly before declining again in the afternoon, finishing at the 6627 level. In contrast, the KOSDAQ rose by 0.70%, showing relatively strong performance.
On this day, the KOSPI closed down 57.11 points (0.85%) at 6627.26. The KOSDAQ ended up 5.62 points (0.70%) at 812.41.
The KOSPI opened at 6659.25, down 25.00 points (0.38%) from the previous trading day. Although it briefly reduced its losses and turned positive during the session, the selling pressure from foreign and institutional investors intensified, leading to a larger decline.
In terms of trading volume, foreign investors sold a net 1.5735 trillion won, while institutions sold 904.4 billion won in the KOSPI. Conversely, individual investors bought a net 832.4 billion won, helping to support the index. In the KOSDAQ, institutions purchased a net 110.7 billion won, and foreign investors bought 24.1 billion won, while individuals sold 139.8 billion won.
Among the top market capitalization stocks, Samsung Electronics fell by 0.20%, and SK Hynix dropped by 0.41%. Samsung Electro-Mechanics and Hyundai Motor also declined by 1.50% and 1.21%, respectively. Samsung Biologics decreased by 0.56%, while KB Financial and Samsung Life Insurance saw significant drops of 3.19% and 4.19%, respectively.
On the other hand, Samsung Electronics preferred shares rose by 2.02%, and LG Energy Solution increased by 3.98%. SK Square closed unchanged.
In the KOSDAQ, stocks related to secondary batteries and some robotics and semiconductor companies showed strength. EcoPro rose by 3.56%, and EcoPro BM increased by 2.98%, while Rainbow Robotics gained 3.09%. IOTech and Simtech also saw increases of 4.32% and 0.64%, respectively.
Conversely, JUSUNG Engineering fell sharply by 6.41%, and Wonik IPS and Lino Industry dropped by 1.54% and 1.23%, respectively. Alteogen and Robotis closed unchanged.
Lee Kyung-min, a researcher at Daishin Securities, noted, "While there were no new negative factors, the additional rise in interest rates and oil prices, along with perceptions of pre-emptive pricing, led to a weakening of buying forces. In the context of heightened concerns about interest rate hikes ahead of the September Federal Open Market Committee (FOMC) meeting, the market is more sensitive to negative news than positive developments." He added, "Nevertheless, the possibility of the KOSPI maintaining support around the 6600 level remains valid."
* This article has been translated by AI.
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