KOSPI Falls Back to 2070 Level in One Day Due to Foreign Selling... KOSDAQ Slightly Lower

[Image source=Yonhap News]

[Asia Economy Reporter Koo Eun-mo] Amid growing volatility in the financial markets due to concerns over the spread of the novel coronavirus infection (COVID-19), the KOSPI retreated below the 2100 mark in just one day, pressured by a selling spree from foreign investors. The KOSDAQ index fell slightly but managed to hold above the 650 level.

On the 26th, the KOSPI, which started the day lower, maintained a decline of around 1% throughout the day and closed at 2076.77, down 26.84 points (1.28%) from the previous day.

Looking at trading trends by participant, foreign investors led the index decline with net sales of 886.4 billion KRW. In contrast, individual and institutional investors were net buyers of 787.3 billion KRW and 35.7 billion KRW, respectively.

By sector, electricity and electronics (-2.45%), paper and wood (-2.21%), and electric gas industries (-2.19%) declined, while transportation and warehousing (2.29%), non-metallic minerals (0.57%), and construction (0.20%) rose.

Most of the top market capitalization stocks fell. SK Hynix (-3.47%), Samsung SDI (-2.80%), Samsung Electronics (-2.42%), NAVER (-1.84%), and Samsung C&T (-1.34%) declined, whereas Celltrion (0.29%) and Samsung Biologics (0.21%) saw slight gains.

On the day, 256 stocks rose in the KOSPI market with no stocks hitting the upper price limit, while 588 stocks fell, including one that hit the lower price limit. Fifty-three stocks remained unchanged.

The KOSDAQ index also turned negative after a day. It started the day down more than 2%, but reduced its losses during the session and closed at 654.63, down 2.32 points (0.35%) from the previous trading day.

By trading participant, foreign investors were net sellers of 182.6 billion KRW, while individual and institutional investors were net buyers of 159.5 billion KRW and 33.2 billion KRW, respectively.

By sector, distribution (1.90%), pharmaceuticals (1.03%), and publishing and media reproduction (0.88%) rose, while semiconductors (-1.66%), transportation (-1.62%), and finance (-1.35%) declined.

Among the top market capitalization stocks, Hugel (-3.25%), Wonik IPS (-2.82%), Paradise (-2.26%), and EcoPro BM (-2.13%) fell. On the other hand, Genexine surged 8.23%, while Celltrion Healthcare (-3.79%) and Medytox (-1.10%) rose.

In the KOSDAQ market that day, 435 stocks rose, including one that hit the upper price limit, while 818 stocks fell, including one that hit the lower price limit. Ninety-one stocks remained unchanged.