KOSPI Falls for a Second Straight Day to the 6,250 Level... SK hynix Plunges Nearly 5% [Financial News Closing Market]

[Financial News] KOSPI fell for a second straight day on foreign selling and slipped to the 6,250 level. Weakness in U.S. tech stocks weighed on investor sentiment, and SK hynix dropped nearly 5% after reports that NVIDIA is considering reducing the amount of memory installed in its next-generation graphics processing unit (GPU). KOSDAQ also fell for the first time in six trading days, giving up the 800 level again after just one day.
According to the Korea Exchange on the 7th, KOSPI closed at 6,258.77, down 37.61 points, or 0.60%, from the previous session. It followed a 4.58% plunge the day before, marking two consecutive declines.
The index opened 68.69 points, or 1.09%, higher at 6,365.07 and rose as high as 6,415.60 in early trading. It then gave back its gains, turned lower, and fell as much as 6,158.73 intraday before trimming some of its losses late in the session.
In the main bourse, foreigners sold a net 859 billion won, extending their selling streak from the previous day. Individuals and institutions bought a net 267.7 billion won and 579.1 billion won, respectively.
Overnight weakness on Wall Street weighed on the domestic market. Sharp post-earnings declines in memory and storage-related stocks such as SanDisk and Western Digital also pressured sentiment toward local semiconductor shares.
SK hynix fell 4.88% and weighed on the index. The drop came after foreign media reports said NVIDIA is reviewing a plan to equip its next-generation GPU, the 'Rubin Ultra,' with less memory than originally planned.
Samsung Electronics rose 0.22%, moving in the opposite direction from SK hynix. Naver fell 7.08%, while Samsung Life Insurance (-4.17%), SK Square (-3.20%), and Hyundai Motor Company (-1.12%) also declined.
By sector, chemicals rose 4.37%, and food, beverages and tobacco gained 3.34%. In contrast, securities (-2.41%), construction (-2.07%), and insurance (-1.79%) all fell.
KOSDAQ closed at 798.81, down 2.86 points, or 0.36%, from the previous session. It was the first decline in six trading days since Oct. 30. Although it had reclaimed the 800 level on a closing basis the previous day for the first time in 15 trading sessions, it slipped back below 800 after just one day.
KOSDAQ opened 5.95 points, or 0.74%, higher at 807.62 and climbed as high as 814.80 during the session. It then turned lower, at one point dropping to 776.60 before narrowing its losses.
On the KOSDAQ market, foreigners and institutions sold a net 254 billion won and 102.8 billion won, respectively. Individuals bought a net 340.4 billion won. Foreign investors have been net sellers in the KOSDAQ market for five straight sessions since the 3rd.

[email protected] Kim Mi-hee Reporter