KOSPI Plunges 3.9% Amid Foreign and Institutional Selling... Retreats to 1680 Level

[Image source=Yonhap News]

[Asia Economy Reporter Park Jihwan] On the 1st, the domestic stock market saw both the KOSPI and KOSDAQ fall by over 3% due to selling pressure from foreigners and institutions. As the decline in New York stock index futures deepened, the drop widened closer to the market closing time.

On that day, the KOSPI closed at 1,685.46, down 69.18 points (3.94%) from the previous trading day. The KOSPI opened at 1,737.28, down 17.36 points (0.99%) from the previous day’s close of 1,754.64, then fluctuated between rebounds and declines.

In the securities market, individuals were net buyers with 1.1516 trillion KRW. Conversely, foreigners and institutions were net sellers with 579.5 billion KRW and 619 billion KRW, respectively.

By sector, food and beverages (1.06%) and machinery (0.84%) rose, while electric and electronics (-4.16%), telecommunications (-1.67%), and finance (-4.85%) all declined.

All of the top 10 companies by market capitalization fell. Samsung Electronics (-4.08%), SK Hynix (-5.88%), Samsung Biologics (-6.12%), Naver (-4.12%), and Celltrion (-13.54%) all dropped.

The KOSDAQ closed at 551.84, down 17.23 points (3.03%) from the previous session. It opened at 568.88, down 0.19 points (0.03%) from the previous day’s close of 569.07.

In the KOSDAQ market, individuals were net buyers with 106 billion KRW, while foreigners and institutions were net sellers with 84.6 billion KRW and 15.7 billion KRW, respectively.

By sector, construction (0.39%) rose, while IT composite (-1.14%), distribution (-8.25%), transportation (-0.85%), and finance (-0.10%) declined.

Among the top 10 companies by market cap, Celltrion Healthcare (-11.93%) and Seegene (-14.76%) fell, while HL Biopharma (1.22%), Studio Dragon (0.51%), and KMW (9.16%) rose.