KOSPI Pauses Amid High Valuation Concerns, Retreats Below 3,840

[Financial News] On the 23rd, the Korea Composite Stock Price Index (KOSPI) paused for breath just before reaching the symbolic 4,000-point mark.
As of 9:35 a.m. today, KOSPI was trading at 3,849.89, down 33.79 points (0.87%) from the previous session. The index opened at 3,835.79, a decrease of 47.89 points (1.23%) from the previous close.
Analysts noted that the market took a breather due to concerns over KOSPI’s short-term peak, following declines in all three major U.S. stock indexes overnight.
On the New York Stock Exchange (NYSE), the Dow Jones Industrial Average (DJIA) closed at 46,590.41, down 334.33 points (0.71%). The Standard & Poor's 500 Index (S&P 500) fell 35.95 points (0.53%) to 6,699.40, while the NASDAQ Composite Index (NASDAQ Composite) ended at 22,740.40, down 213.27 points (0.93%).
Investor sentiment was dampened by concerns over a potential 'bubble' burst and ongoing trade tensions between the U.S. and China. In the domestic stock market, individuals purchased 547.6 billion won worth of shares, while foreign investors and institutions sold 230.5 billion won and 336.8 billion won, respectively.
Among the top 14 stocks by market capitalization, all except Hanwha Aerospace (up 1.09%) were in decline. Naver (-2.54%), Doosan Enerbility (-2.53%), and Hyundai Motor (-2.11%) saw the largest drops. The top-ranked Samsung Electronics was trading at 96,800 won, down 1.83% from the previous session, while SK hynix, ranked second, fell 1.56% to 474,000 won.
The KOSDAQ Index was trading at 875.68, down 3.47 points (0.39%) from the previous session. The index opened at 874.13, a decrease of 5.02 points (0.57%).
khj91@fnnews.com Kim Hyun-jung Reporter