▲ Employees work at the dealing room of Hana Bank in Jung-gu, Seoul, on the 7th, as the KOSPI fell more than 2% in early trading to drop below the 7,800 level. (Photo: Yonhap News)
The KOSPI is experiencing extreme volatility amid a sharp decline.
As of 10:53 a.m. today, the KOSPI is at 7,751.07, down 300.26 points (-3.73%) from yesterday.
The index opened at 7,919.20, down 132.13 points (1.64%) from the previous trading day, and has since expanded its losses.
During the session, it fell as much as 6.00% to 7,568.59.
Consequently, a sidecar—a temporary suspension of program sell orders in the KOSPI market—was triggered at 10:23 a.m. due to fluctuations in the KOSPI 200 futures index.
The KOSPI is currently showing a sharp decline of 3 to 5 percent during the session.
In the KOSPI market, foreign investors are net sellers of 1.5776 trillion won, continuing their selling streak for the 13th consecutive trading day as of today.
Institutional investors are also net sellers, with a net selling volume of 12.4 billion won.
Individual investors are acting as the sole support for the index, recording a net buying volume of 1.5806 trillion won.
Foreign investors are also net sellers in the KOSPI 200 futures market, with a net selling volume of 161.6 billion won.
Conversely, individual and institutional investors are net buyers of 44.4 billion won and 116.2 billion won, respectively.
Despite Samsung Electronics announcing its largest-ever operating profit for the second quarter today, the KOSPI opened lower and has continued its downward trend.
Samsung Electronics announced today that its operating profit (preliminary) for the second quarter reached 89.4 trillion won, an increase of 1,810% compared to the previous year.
This figure exceeds the market consensus of 84.1606 trillion won.
Samsung Electronics' second-quarter revenue was 171 trillion won, marking the third consecutive quarter of record-breaking performance in both revenue and operating profit since the fourth quarter of last year.
Nevertheless, the two leading semiconductor stocks in the domestic market are leading the downturn with simultaneous weakness.
Samsung Electronics is currently down 5.42% to 300,750 won.
After opening 3.46% lower, it plunged as much as 7.86% during the session to 293,000 won, losing its "300,000-won" status.
SK Hynix is also down 3.93% to 2,251,000 won.
It opened 2.30% lower and fell as much as 7.26% to 217,300 won during the session.
LG Energy Solution, whose second-quarter earnings fell short of market expectations, is down 6.49%, and Hanwha Ocean, which was not selected for the Canadian Patrol Submarine Project (CPSP), is plummeting by 22.14%.
Many top market-cap stocks, including SK Square (-7.56%), Samsung Electro-Mechanics (-6.67%), Hyundai Motor (-4.58%), Samsung Life Insurance (-6.35%), and Samsung C&T (-3.45%), are currently showing weakness.
Only a few, including financial stocks such as Samsung Biologics (1.10%), KB Financial Group (0.35%), Shinhan Financial Group (0.74%), Celltrion (1.14%), and Hana Financial Group (0.08%), are rising.
By sector, the declines in transportation equipment and parts (-6.28%), electric and electronics (-6.16%), and manufacturing (-5.48%) are notable.
Entertainment and culture (5.42%), food and beverage/tobacco (4.14%), and textiles/apparel (2.24%) are showing strength despite the bearish market.
At the same time, the KOSDAQ index is at 847.61, up 0.54 points (0.06%) from the previous day.
The KOSDAQ index opened at 843.74, down 3.33 points (0.39%), but turned to an upward trend in early trading, reaching as high as 866.59 before fluctuating and currently remaining near the flat line.
In the KOSDAQ market, foreign and institutional investors are net buyers of 97.7 billion won and 125.9 billion won, respectively.
Individual investors are net sellers of 217.8 billion won.
Alteogen (3.32%), Jusung Engineering (0.66%), Kolon TissueGene (3.85%), HLB (4.21%), ABL Bio (6.65%), and LigaChem Biosciences (10.25%) are showing strength, while EcoPro BM (-0.41%), EcoPro (-0.35%), Rainbow Robotics (-1.98%), Wonik IPS (-4.74%), and Leeno Industrial (-2.94%) are declining.
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