KOSPI retreats from 5,450 intraday, ending three-session rebound [fn Market Close]

[Financial News] The KOSPI fell for the first time in three trading sessions amid net selling by both institutional and individual investors. It topped the 5,450 level intraday but gave up its gains and fell to the 5,340 level. The KOSDAQ also fell more than 1%, dropping below 700.
On the 12th, the KOSPI closed at 5,342.73, down 32.63 points (0.61%) from the previous trading day.
The index opened at 5,385.94, up 10.58 points (0.20%) from the previous trading day, and climbed as high as 5,458.84 intraday. It then turned lower, at one point falling to 5,293.05 and below the 5,300 level. It trimmed some of its losses late in the session but failed to regain upward momentum. The gap between its intraday high and low reached 165.79 points.
On the main board, institutional investors net sold shares worth 679.562 billion won, while individual investors net sold 192.569 billion won worth. Foreign investors net bought 347.538 billion won worth, but this was not enough to stem the index’s decline.
Large-cap semiconductor stocks posted mixed performances. Samsung Electronics Co., Ltd. closed at 208,000 won, up 0.97% from the previous trading day. SK hynix, by contrast, closed at 1,254,000 won, down 1.80%.
By market capitalization, large-cap stocks (-0.57%), mid-cap stocks (-1.03%) and small-cap stocks (-0.99%) all fell. On the main board, there were 595 declining stocks, more than the 274 advancers, including three stocks that hit the upper price limit. Forty-five stocks were unchanged.
The KOSDAQ index closed at 696.53, down 8.57 points (1.22%) from the previous trading day. Like the KOSPI, it turned lower for the first time in three trading sessions. The KOSDAQ opened at 703.22 and climbed as high as 711.86 intraday, but later turned lower. It fell to 687.40 at one point before trimming its losses, but failed to recover the 700 level.
Kang Jin-hyuk, a senior researcher at Shinhan Investment & Securities, analyzed, “Samsung Electronics, with its diversified supply chain, showed relative strength, while automobiles and financials underperformed,” and “On the KOSDAQ, selling emerged in biotech and secondary batteries, which had surged the previous day.”

[email protected] Choi Doo-seon Reporter