[Opening Market] KOSPI Battles Around 6,800 Amid Mixed Tech Moves
On Monday, Aug. 24, the domestic stock market, which opened after the weekend closure, is sustaining its weakness after a lower start amid caution over external events and divergent paths among leading semiconductor stocks. A wait-and-see sentiment is deeply settled across the market as it faces a ‘
The Korean Stock Exchange's KOSPI battled around 6,800 on Monday, Aug. 24, as it struggled with mixed tech moves and caution over external events. The index opened weak at 6,881.07, down 31.88 points (0.46%) from the previous day, before fluctuating around the 6,820 mark. By 10:00 a.m., KOSPI was at 6,823.20, down 89.75 points (1.30%) from the prior session.
Foreign and institutional sell-offs weighed on the market, with foreigners and institutions collectively selling 1.0639 trillion won ($768 million) and institutional investors selling an additional 46.9 billion won. In contrast, individual investors net bought 1.1109 trillion won, absorbing the pressure from foreigners and institutions.
Tech stocks were polar opposites, with Samsung Electronics plunging 4% to 5% and SK hynix rebounding 1% to 3%. Secondary battery stocks, such as LG Energy Solution and Ecopro, showed strong gains in the 5% to 8% range. Large-cap companies tied to corporate governance, like Samsung Life Insurance and Samsung C&T, declined by 5%.
The won/dollar exchange rate stayed down in the mid-1,380 won range, with the dollar falling 1.1 won from the prior session. Analysts predict increased volatility this week due to external events and company earnings announcements, but expect a rebound in large-cap stocks after a short-term correction.
Written by urgent.news from BusinessKorea's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
