Index Surrenders 6,600 Mark After Intraday Record High
SK Square Climbs to No.3 by Market Cap; KOSDAQ Sheds Over 2%
The KOSPI snapped a four-day winning streak on April 30, finishing lower after touching another intraday record high, as a sharp rise in oil prices and a hawkish tone from the Federal Reserve weighed on risk appetite. The KOSDAQ also closed more than 2% lower.
The KOSPI ended at 6,598.87, down 92.03 points or 1.38 percent from the previous session. The index opened 0.72 percent higher at 6,739.39 and climbed to an intraday peak of 6,750.27 before reversing course and falling below 6,600 by the close. In the foreign exchange market, the won weakened to 1,483.3 per dollar, 4.3 won higher than the previous day’s close.
Flows showed domestic investors buying the dip while offshore investors took profits in cash equities. Retail investors purchased 1.186 trillion won, and institutions 284 billion won on the main board, while foreigners sold 1.454 trillion won. In KOSPI 200 futures, foreign investors were net buyers of about 415 billion won. Turnover on the main board reached 35.512 trillion won, and on KOSDAQ 15.217 trillion won. Alternative trading venue NextTrade handled a combined 22.3288 trillion won across its pre- and main markets.
The market initially tracked stronger-than-expected U.S. tech earnings, with four major Big Tech names beating first-quarter expectations. Sentiment shifted after Washington said it would maintain naval restrictions on Iran, pushing West Texas Intermediate crude futures to around 109 dollars a barrel in after-hours trading. Investors also reacted to the latest Federal Open Market Committee meeting, which flagged lingering inflation risks from Middle East tensions. Local analysts said the surge in oil prices could revive inflation and rate concerns in the short term and potentially dampen consumption and corporate investment if sustained.
Most blue chips finished lower. Samsung Electronics fell 2.43 percent, and SK hynix slipped 0.54 percent. Hyundai Motor dropped 4.50 percent. Within the KOSPI top 10 by market capitalization, only SK Square and Samsung Electro-Mechanics advanced. SK Square gained 1.33 percent to close at 841,000 won, lifting its market value to 111 trillion won and moving it up to third place, ahead of Hyundai Motor. By sector, only entertainment & culture, real estate, and food, beverage & tobacco posted gains, while construction, brokerages, and IT services led the declines. Advancers totaled 194 on the main board, with 668 decliners and 28 unchanged.
The KOSDAQ index closed at 1,192.35, down 27.91 points, or 2.29 percent. It opened slightly higher at 1,224.75, then slipped into negative territory. On the secondary board, retail investors bought a net 553 billion won, while foreigners and institutions sold 211 billion won and 305 billion won, respectively. Among large-cap names, EcoPro, EcoPro BM, and Alteogen all retreated, while only test-probe maker Leeno Industrial gained ground in the top 10. There were 412 gainers, 1,185 losers, and 70 flat issues on KOSDAQ.
By Min Byung-kwun, KDFN
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Min Byung-kwun
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