[Asia Economy Reporter Park Jihwan] The KOSPI fell below the 2100 mark due to simultaneous selling by foreign and institutional investors. This is interpreted as a reaction to growing concerns about the resurgence of COVID-19 worldwide, including in the United States and South Korea.
On the 29th, the KOSPI closed at 2093.48, down 41.17 points (1.93%) from the previous trading day. The KOSPI opened at 2104.26, down 30.39 points (-1.42%) from the previous day, showed an early rebound but soon turned downward.
This appears to reflect the increasing signs of COVID-19 resurgence both domestically and internationally. Recently, as COVID-19 began spreading again in the U.S., only 2 out of 50 states showed a decrease in new cases. In particular, some states are preparing to strengthen economic shutdowns again due to a sharp rise in new infections.
Looking at trading trends by participant, individuals reduced the index decline by net buying 575.9 billion KRW. In contrast, foreigners and institutions net sold 234.1 billion KRW and 350.7 billion KRW, respectively.
Most of the top market capitalization stocks also declined. Samsung Electronics (-1.69%), SK Hynix (-1.18%), Samsung Biologics (-3.21%), and NAVER (-1.86%) all fell. Hyundai Mobis (-3.27%), LG Household & Health Care (-2.77%), and Kakao (-2.55%) also saw significant declines.
The KOSDAQ index also fell that day. The index recorded 734.69, down 15.89 points (2.12%) from the previous day. It opened at 743.88, down 6.70 points (0.89%), and the decline widened as time passed.
Individuals net bought 222.1 billion KRW, while foreigners and institutions net sold 88.1 billion KRW and 124.2 billion KRW, respectively.
Among the top market capitalization stocks, most showed a downward trend except for Seegene (0.43%) and KMH (0.16%). In particular, Celltrion Healthcare, HLB, and Celltrion Pharm fell by around 2%. Alteogen showed a sharp decline of 8.31%.
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