KOSPI Drops Over 2% Following U.S. Market Correction; KOSDAQ Down More Than 1% [fn Morning Market Report]

[Financial News] The Korea Composite Stock Price Index (KOSPI) is showing a decline of more than 2%, influenced by the U.S. stock market correction due to weakened expectations for interest rate cuts.
According to the Korea Exchange (KRX), as of 10:42 a.m. on the 14th, the KOSPI was trading at 4,075.60, down 95.03 points (-2.28%) from the previous day.
This drop is attributed to the sharp declines in all three major indices on the New York Stock Exchange (NYSE) overnight. Concerns about overvaluation in artificial intelligence (AI) stocks and expectations that the Federal Reserve (Fed) will keep rates unchanged led the DJIA to fall 1.65%, while the S&P 500 Index and NASDAQ Composite dropped 1.66% and 2.29%, respectively.
In the main board market, individual investors are net buyers of 1.8351 trillion won, while foreign investors and institutions have sold 1.4486 trillion won and 391.9 billion won, respectively.
By sector, textiles/apparel (up 1.10%), paper/wood (up 1.06%), and pharmaceuticals (up 0.81%) are gaining, while electrical/electronics (down 4.46%), machinery/equipment (down 2.80%), and manufacturing (down 2.75%) are declining.
Among large-cap stocks, SK Square (-8.50%), SK hynix (-5.56%), Samsung Electronics (-3.60%), and LG Energy Solution (-2.37%) are showing weakness, while HD Hyundai Heavy Industries (up 3.35%), HDKSOE (up 2.28%), Hanwha Aerospace (up 1.78%), and Celltrion (up 1.64%) are performing strongly.
At the same time, the Korean Securities Dealers Automated Quotations (KOSDAQ) was trading at 908.05, down 10.32 points (-1.12%) from the previous session. Individual investors have net purchased 177 billion won, while foreign investors and institutions have net sold 751.8 billion won and 24 billion won, respectively.


[email protected] Ba Han-geul Reporter