 |
Photo = Yonhap news |
[Alpha Biz= Reporter Kim Sangjin] The impeachment motion against President Yoon Suk-yeol passed in the National Assembly, easing some political uncertainty, but domestic stock markets remained volatile.
On December 16, the KOSPI closed at 2,488.97, down 5.49 points (0.22%) from the previous trading day (2,494.46).
The KOSPI started the day with a 16.62-point (0.67%) increase at 2,511.08 and touched 2,515.62 during the day. However, it gave up all its gains by the close. Individual investors, who had withdrawn from the market due to disappointment with the National Assembly's actions, returned after seven trading days but could not withstand heavy selling from foreign investors.
Daishin Securities explained, "The KOSPI started strong due to reduced political uncertainty after the impeachment motion passed over the weekend, but profit-taking led to a slight decline by the close."
Daishin Securities also noted, "With events like the December Federal Open Market Committee (FOMC) meeting of the U.S. Federal Reserve and the Bank of Japan (BOJ) upcoming, caution prevailed, leading to short-term adjustments and profit-taking. Foreign investors' selling led the decline."
The firm added, "As Asian markets generally declined, the focus of the domestic market post-impeachment will likely shift back to global macroeconomic issues around the 2,500 mark for the KOSPI."
Foreign investors sold a net 4.77 trillion KRW in the KOSPI, while individual investors bought 3.68 trillion KRW and institutions purchased 1.9 billion KRW.
Sectors such as textiles and apparel (-2.08%), metals (-1.84%), insurance (-1.73%), real estate (-1.72%), transportation equipment and parts (-1.67%), and securities (-0.62%) saw declines. On the other hand, telecommunications (0.76%), chemicals (0.70%), medical precision (0.47%), paper and wood (0.16%), and electrical and electronics (0.09%) ended higher.
Among the top market-cap stocks, Samsung Electronics (-0.89%) fell, while companies such as Korea Zinc (-4.82%), Kia (-2.85%), Hyundai Mobis (-2.66%), and Hyundai Motor (-1.86%) experienced significant declines. However, SK Hynix (2.17%), Naver (1.90%), Celltrion (1.45%), and Samsung Biologics (1.32%) saw gains.
The KOSDAQ index closed at 698.53, up 4.80 points (0.69%) from the previous day (693.73).
Individual investors led the KOSDAQ's rise, purchasing a net 2.09 trillion KRW, while foreign investors sold 1.17 trillion KRW and institutions sold 772 billion KRW.
Alphabiz Reporter Kim SangJin(letyou@alphabiz.co.kr)
