[Closing Market Update] KOSPI Plummets 1.3% Despite Individual Buying Amid U.S. Recession Fears

# Concerns Over U.S. Economic Recession Lead to Sharp Decline in New York Stocks, Korean Market Shows Resilience Amid concerns over a U.S. economic recession prompting a sharp decline in New York stocks, the Korean stock market demonstrated relative stability, buoyed by bargain buying from individual investors. According to the Korea Exchange on October 11, the KOSPI index closed at 2537.60, down 32.79 points (1.28%) from the previous trading day. The KOSPI initially fell to 2505.91 points, deepening the decline, but recovered partially due to net buying by individual investors. Individual investors supported the index by net buying KRW 491.6 billion worth of shares in the KOSPI market. In contrast, foreign investors and institutional investors net sold KRW 363.6 billion and KRW 237 billion worth of shares, respectively. # Market Sectors See Declines Across the Board All sectors recorded declines, with significant drops in transportation and warehouse (-3.44%), construction (-2.69%), electricity and gas (-2.29%), metals (-1.99%), transportation equipment and parts (-1.94%), chemicals (-1.72%), and distribution (-1.66%). Among the top market capitalization stocks, few showed gains, including Celltrion (0.11%) and Kia (0.41%). Most major stocks were weak, with Samsung Electronics down 0.19%, SK Hynix declining 0.05%, Samsung Biologics falling 1.39%, and Hyundai Motor dropping 0.91%. # Impact of Tesla's Sharp Decline Notably, the sharp fall of over 15% in Tesla's stock on the U.S. market impacted secondary battery-related stocks. LG Energy Solution fell by 2.43%, POSCO Holdings by 4.51%, LG Chem by 3.64%, and Samsung SDI by 3.24%. # KOSDAQ Index Also Declines The KOSDAQ index finished at 721.50, down 4.32 points (0.60%) from the previous session. Although it was threatened early in the session, individual and foreign buying helped reduce the decline. Individual and foreign investors bought KRW 48.8 billion and KRW 45.3 billion worth of shares, respectively, while institutions net sold KRW 87 billion worth of shares. Secondary battery-related stocks such as Ecopro BM (-3.25%), Ecopro (-2.83%), and Enchem (-4.35%) saw noticeable declines, as did pharmaceutical stocks like Alteogen (-0.54%), HLB (-1.63%), Clasis (1.00%), and Leekam Bio (-1.21%). # Analyst Insight Kyung-min Lee, an analyst at Daishin Securities, commented, "Although domestic economic confidence remains low, expectations for a rebound are growing as the stance on lowering the benchmark interest rate and expanding fiscal policies become clearer."