[Asia Economy Reporter Oh Ju-yeon] The KOSPI has fallen back to the 1670 level. This is interpreted as a result of growing concerns over economic contraction due to the rapid increase in confirmed cases of the novel coronavirus infection (COVID-19) globally, including in the United States. The U.S. stock market closing down more than 3% also had an impact, and the decline in oil prices added pressure, leading to increased volatility.
According to the Korea Exchange on the 30th, the KOSPI opened at 1670.34, down 2.76% from the previous trading day. Although it dropped to 1661.95 during the session, by 9:15 a.m. it narrowed the loss to 1675.69.
Among the top market capitalization stocks, Samsung Electronics traded at 47,100 won, down 2.48% from the previous day, and SK Hynix recorded 81,000 won, down 2.76%. Other stocks also fell consecutively, including Samsung Biologics (-0.34%), NAVER (-2.74%), LG Chem (-3.29%), Hyundai Motor (-3.59%), LG Household & Health Care (-1.71%), Samsung C&T (-2.78%), and Samsung SDI (-3.02%).
The KOSDAQ index also opened down 1.86% at 513.13 and was at 515.64, down 1.38%, at this time.
Among the top market capitalization stocks, Celltrion Healthcare rose by 0.29%, but most others declined, including HL Biopharma (-1.64%), Seegene (-1.64%), Pearl Abyss (-2.46%), and CJ ENM (-3.29%).
Individual investors continued their buying spree today as well.
In the KOSPI market, individuals purchased stocks worth 61 billion won, and in the KOSDAQ market, they net bought stocks worth 31.4 billion won.
On the other hand, foreigners and institutions were selling. In the KOSPI market, they sold stocks worth 38.5 billion won and 12.2 billion won respectively, and in the KOSDAQ market, they net sold stocks worth 10.5 billion won and 7.6 billion won respectively.
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