[Opening Market] KOSPI Retreats Below 6,800 on Foreign Selling
On the first trading day of October, passing through the Chuseok holiday and the beginning of the third-quarter earnings season, the domestic stock market is showing weakness, pushed down by a simultaneous selling trend from foreigners and institutions. Despite Micron Technology, which serves as a b
On the opening day of October, the KOSPI stock market fell below the 6,800 mark due to simultaneous selling by foreigners and institutions. Despite Micron Technology reporting strong earnings that surpassed expectations, profit-taking and risk aversion contributed to the decline, particularly affecting domestic large-cap semiconductor stocks.
The KOSPI index opened at 6,814.49 points, falling by 23.55 points (0.34%) from the previous day. Foreigners and institutions sold significantly, while individual investors netted a purchase of 128 billion won, attempting to stabilize the market. The KOSDAQ index also faced downward pressure, with both foreign investors and institutions recording net sales.
Weakness was prevalent among top large-cap stocks, as two major semiconductor companies, Samsung Electronics and SK hynix, continued to decline. The won/dollar exchange rate fluctuated in the early to mid-1,350 won range, with foreign investors continuing to dominate the market.
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