KOSDAQ Plummets Over 4%... Top Market Cap Stocks Also Drop Nearly 10%
[Asia Economy Reporter Minwoo Lee] The decline in the domestic stock market continues unabated. The KOSPI, which has widened its drop to the 2% range, has fallen to the 2200 level.
As of 1:58 PM on the 24th, the KOSPI recorded 2272.44, down 2.61% from the previous session. It started the day at 2295.62 and briefly recovered to the 2300s but soon fell again.
The selling pressure from foreigners and institutions appears to have driven the index down. Foreigners and institutions net sold 148.1 billion KRW and 216.5 billion KRW, respectively. Meanwhile, individuals net bought 372.3 billion KRW.
All sectors are in decline. The non-metallic minerals sector experienced the largest drop at 5.35%. This was followed by pharmaceuticals (-4.81%), transportation equipment (-4.07%), and construction (-3.59%).
Top market capitalization stocks are also underperforming. Except for SK Hynix, which rose 0.8%, all others are down. Samsung SDI fell the most, dropping 6.4%. This was followed by Celltrion (-5.0%), Hyundai Motor (-4.4%), Samsung Biologics (-3.9%), and Kakao (-3.6%).
The KOSDAQ's decline was even steeper. At the same time, it fell 4.13% from the previous day to 808.65.
Again, foreigners and institutions were strong sellers. Foreigners and institutions net sold 105.5 billion KRW and 95.4 billion KRW, respectively. Individuals, on the other hand, bought 215.6 billion KRW.
All sectors except the non-metallic sector, which rose 1.18%, fell. The paper and wood sector dropped the most at 6.11%, followed by general electrical and electronics (-5.50%), digital content (-5.39%), and other services (-4.77%).
All top 10 market capitalization stocks fell. EcoPro BM and Genexine dropped 9.9% and 9.8%, respectively. Many stocks, including Alteogen (-8.2%), Kakao Games (-7.3%), and Celltrion Pharm (-6.3%), showed declines exceeding 5%.
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