KOSPI Plunges Over 4% Amid Foreign and Institutional Selling... Breaks Below 1960 Level

[Asia Economy Reporter Minji Lee] The KOSPI is showing a decline of over 4% due to selling pressure from foreigners and institutions.

At 11:21 a.m. on the 9th, the KOSPI stood at 1,957.64, down 4.05% (82.58 points) from the previous session. The index opened at 1,981.02, down 2.90% (59.20 points) from the previous close, and is continuing to widen its losses.

In the stock market, foreigners and institutions sold stocks worth 673.4 billion KRW and 193.5 billion KRW, respectively. Meanwhile, individual investors bought stocks worth 920.6 billion KRW on their own.

Among the top market capitalization stocks, the leading stock Samsung Electronics traded down 4.60% at 53,900 KRW, while SK Hynix (-5.26%), Samsung Biologics (-0.20%), Naver (-5.01%), LG Chem (-6.25%), and Celltrion (-0.56%) also declined.

At the same time, the KOSDAQ index traded at 619.94, down 3.54% (22.78 points) from the previous session. The KOSDAQ index opened at 631.13, down 1.80% (11.59 points) from the previous close, and widened its losses. In the KOSDAQ market, foreigners and institutions sold stocks worth 94 billion KRW and 26.6 billion KRW, respectively. Individuals were net buyers with 125.8 billion KRW.