The KOSPI index was mixed and tactfully fell below the 2600 level. Despite the news that the city of Shanghai is easing its lockdown policy the day before and the recovery of investor sentiment following a rebound in the US market, China’s real economic indicators have been sluggish, and stock prices have continued to rise and fall.
According to the Korea Exchange on the 16th, the KOSPI index closed at 2596.58, down 7.66 points (-0.29%) from the previous trading day.
On this day, the KOSPI started the market at 2626.55, up 22.31 points (0.86%) from the previous day, and then widened its rise, once nearing 2630 points. However, China’s economic indicators turned bearish in April due to weaker-than-expected economic indicators. While individuals net bought 58.1 billion won, foreigners and institutions net sold 17.3 billion won and 94.3 billion won, respectively.
China’s industrial production in April was -2.9%, below the 0.5% expected, and China’s retail sales growth in April was -11.1%, far below the estimate (-6.1%). Anun Investor sentiment froze as concerns over an economic slowdown in China froze.
Kim Seok-hwan, a researcher at Mirae Asset Securities, said, “The stock market started rising on expectations of a rebound in the U.S. stock market and easing of the lockdown in Shanghai, but the KOSPI turned downward due to the shock of China’s real economic indicators and the Bank of Korea’s mention of a big step. We limited the rise of the index while maintaining the foreign selling trend,” he analyzed.
By industry, the telecommunication industry was the worst at -2.66%, followed by pharmaceuticals (-1.25%), medical precision (-1.14%), transportation warehouses (-1.08%), non-metallic minerals (-0.92%), and transportation equipment (-0.68%). ) and the construction industry (-0.54%) showed weakness. On the other hand, textile apparel (3.03%) rose significantly. This is the result of reflecting the announcement of good performance by major companies and the easing of the lockdown in Shanghai. In addition, the food and beverage industry (1.38%), paper and wood (1.16%), distribution (0.76%), machinery (0.48%), steel and metal (0.41%), insurance (0.29%), finance (0.22%), electricity and gas industry (0.02%) ), etc., increased.
Most of the top stocks by market cap recorded negative returns. Samsung Electronics (-0.30%) and SK Hynix (-1.78%), the major semiconductor players, were both sluggish, while Samsung Biologics (-1.91%), NAVER (-0.36%), Samsung SDI (-0.34%), and Hyundai Motors (- 1.34%), LG Chem (-0.59%), and Kia (-1.27%) also fell. On the other hand, Kakao was the only one that rose 0.61%, while LG Energy Solution completed the transaction without fluctuations.
On that day, the KOSDAQ index closed at 856.25, up 3.17 points (0.37%) from the previous trading day. Individuals and institutions net bought 11 billion won each, while foreigners net sold 21 billion won.
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