[Asia Economy Reporter Eunmo Koo] The KOSPI closed above the 2330 mark, falling more than 2% due to simultaneous net selling by institutions and foreigners. The KOSDAQ index also dropped nearly 3%, closing near the 840 level.
On the 22nd, the KOSPI closed at 2332.59, down 56.80 points (2.38%) from the previous day. The KOSPI started lower and steadily widened its losses throughout the session without any intraday rebound, retreating to the 2330 level by the close.
Looking at trading trends by participant, institutional and foreign investors led the decline with net sales of 769.1 billion KRW and 232.1 billion KRW respectively, while individual investors absorbed the selling pressure with net purchases of 991.9 billion KRW.
By sector, there were no gainers; pharmaceuticals (-3.81%), transportation and warehousing (-3.72%), transportation equipment (-3.46%), and textiles and apparel (-3.25%) all declined.
Among the top market capitalization stocks, most fell including Kia Motors (-4.44%), SK Hynix (-3.79%), Celltrion (-3.77%), Hyundai Mobis (-3.51%), and Kakao (-3.16%). LG Chem (1.91%) and Samsung SDI (0.11%) were exceptions, posting gains.
In the KOSPI market, 80 stocks rose including one that hit the daily upper limit, while 816 stocks declined including two that hit the daily lower limit. Thirteen stocks remained unchanged.
The KOSDAQ index also fell nearly 3%, closing lower for the second consecutive day. After opening higher, the KOSDAQ turned downward and maintained its decline throughout the session, closing at 842.72, down 24.27 points (2.80%) from the previous day.
By participant, institutional investors net sold 164.1 billion KRW, while individual and foreign investors net bought 145.1 billion KRW and 30.5 billion KRW respectively.
By sector, transportation equipment and parts (-5.52%), information devices (-4.27%), broadcasting services (-3.83%), and metals (-3.51%) declined.
Most of the top market capitalization stocks fell. HL Biopharma (-8.15%) dropped nearly 10%, while Kakao Games (-6.22%), CJ ENM (-5.32%), Genexine (-4.79%), and Celltrion Pharm (-4.66%) also saw relatively large declines. On the other hand, Seegene (3.46%) was the only stock among the top 20 by market cap to rise.
In the KOSDAQ market, 187 stocks rose including seven that hit the daily upper limit, while 1,134 stocks declined with no daily lower limit hits. Forty-four stocks remained unchanged.
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