"Kospi Falls Over 1% Amid Concerns of COVID-19 Spread"

KOSDAQ Drops Over 2% Amid Joint Selling by Institutions and Foreigners

On the 21st, as the possibility of community spread of the novel coronavirus (COVID-19) increased, the KOSPI index opened lower at 2,165.65, down 29.85 points (1.36%) from the previous trading day. The won-dollar exchange rate started the session at 1,205.7 won, up 7.0 won. On this day, dealers are working in the dealing room of Hana Bank in Euljiro, Seoul.
Photo by Moon Honam munonam@

[Asia Economy Reporter Minji Lee]The KOSPI and KOSDAQ indices fell by 1% and 2% respectively due to institutional selling pressure. The decline appears to have widened amid growing concerns over the spread of the novel coronavirus infection (COVID-19).

On the 21st, the KOSPI closed at 2,162.84, down 32.66 points (1.49%) from the previous session. The index opened at 2,165.65, down 29.85 points (1.36%) from the previous session, and continued to decline throughout the day.

In the securities market that day, institutions alone sold stocks worth 533 billion KRW. Individuals and foreigners bought stocks worth 285.6 billion KRW and 218.1 billion KRW, respectively.

By sector, only Paper & Wood rose by 1.13%. The sectors with smaller declines were Electric & Gas (-0.06%), Transportation & Warehousing (-0.73%), Food & Beverages (-0.99%), and Banking (-0.99%).

All of the top 10 market capitalization stocks declined that day. Samsung Electronics closed at 59,200 KRW, down 1.33% from the previous session. SK Hynix (-0.96%), Samsung Biologics (-2.41%), Naver (-0.26%), LG Chem (-2.86%), Hyundai Motor (-1.54%), and Samsung SDI (-2.04%) also closed lower.

The KOSDAQ index closed at 667.99, down 13.67 points (-2.01%) from the previous session. The index started the day at 673.57, down 8.09 points (1.19%) from the previous session, and widened its losses throughout the day.

In the market, individuals alone bought stocks worth 114.3 billion KRW. Foreigners and institutions sold stocks worth 31.6 billion KRW and 73.7 billion KRW, respectively.

By sector, Paper & Wood (3.44%) and Publishing & Reproduction (3.40%) rose. Food & Tobacco (-0.44%) and Transportation (-0.6%) had smaller declines.

Among the top market capitalization stocks, Solbrain was the only one to close higher, ending the day at 99,500 KRW, up 0.2% from the previous trading day. Others such as Celltrion Healthcare (-3.74%), HLB (-3.91%), CJ ENM (-3.16%), Pearl Abyss (-0.11%), and Medytox (-1.51%) declined.