KOSPI Composite Index pares losses but remains below 6,000; Samsung Electronics down more than 4% [fn afternoon market]

[Financial News] The KOSPI Composite Index slid to the low 5,800s intraday before paring its losses, but remains below 6,000. Foreign and institutional investors are both net sellers, while Samsung Electronics is down more than 4%.
According to the Korea Exchange (KRX), as of 2:20 p.m. on the 29th, the KOSPI Composite Index was trading at 5,976.42, down 36.02 points (0.60%) from the previous trading day. The index opened up 4.78 points (0.08%) at 6,017.22 and climbed as high as 6,100.11 intraday, but then turned lower. It briefly fell to 5,817.92, recording a decline of 3.24%, before paring its losses.
On the stock market, individual investors were net buyers of 771.6 billion won. Foreign investors and institutions were net sellers of 168.3 billion won and 795.6 billion won, respectively.
By sector, medical and precision instruments (1.73%), financials (1.43%), and transportation and warehousing (0.31%) were among the sectors rising. Construction (-5.31%), machinery (-4.91%), and chemicals (-2.81%) were among those falling.
Among stocks with the largest market capitalizations, SK Square (5.54%), Hyundai Motor Company (1.18%), and Samsung SDI (1.12%) were up. LG Energy Solution (-7.96%), Samsung Biologics (-0.66%), and Celltrion (-0.37%) were down.
Large-cap semiconductor stocks were moving in opposite directions. Samsung Electronics was trading at 232,000 won, down 10,000 won (4.13%) from the previous trading day. SK hynix was at 1,552,000 won, up 65,000 won (4.37%).
Concerns that the announcement of additional shareholder-return measures by Samsung Electronics could be delayed are weighing on investor sentiment. Kang Jin-hyuk, a researcher at Shinhan Investment & Securities, cited disappointment-driven selling over concerns about a delay to the company’s shareholder-return measures as a reason for the stock’s weakness. He explained that plans for using Samsung Electronics’ remaining funds are scheduled to be announced at a board meeting in late January next year.
As of 2:20 p.m., KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 758.04, down 13.24 points (1.72%) from the previous trading day. It fell as low as 741.96 intraday before paring its losses. Individual investors were net buyers of 217.7 billion won, while foreign investors and institutions were net sellers of 143.7 billion won and 59.7 billion won, respectively.

[email protected] Lee Jeong-hwa Reporter