KOSPI Plunges Over 1%... Breaks Below 2400 Level

KOSDAQ Falls Over 2%... Breaks Below 860 Level
Attributed to Foreign Selling Pressure

Photo by Getty Images Bank

[Asia Economy Reporter Minwoo Lee] The KOSPI index plunged, breaking below the 2400 level. The KOSDAQ also fell by more than 2%.

As of 2:40 PM on the 21st, the KOSPI index recorded 2386.98, down 1.05% from the previous close. After breaking below the 2400 level around 2:20 PM, the decline has been accelerating.

Foreigners' selling pressure appears to have driven the index down. At this time, foreigners net sold 115.6 billion KRW. Meanwhile, individuals and institutions net bought 17.6 billion KRW and 99.4 billion KRW, respectively.

At the same time, the KOSDAQ index dropped 2.40% from the previous close to 867.54. Around 2:36 PM, it even fell below 860, recording 859.40.

In the KOSDAQ market, selling by foreigners and institutions seems to be leading the decline. Foreigners and institutions net sold 187.8 billion KRW and 203.2 billion KRW, respectively. Meanwhile, individuals net bought 425.3 billion KRW.