[Asia Economy Reporter Ji-hwan Park] On the 22nd, the KOSPI fell by more than 1% due to simultaneous selling by foreign and institutional investors. This is interpreted as an impact of the delay in the agreement on additional U.S. economic stimulus measures and concerns over the resurgence of COVID-19.
On that day, the KOSPI closed at 2355.05, down 15.81 points (0.67%) from the previous trading day. The index started at 2355.61, down 15.25 points (0.64%) from the previous session, and maintained a downward trend.
The decline in the KOSPI was influenced by concerns over the delay in the passage of the U.S. economic stimulus bill in Congress. The negotiations between the Trump administration and the Democratic Party on an additional economic stimulus package of around $2 trillion (approximately 2300 trillion KRW) to recover from the economic shock caused by COVID-19 remain deadlocked. The trend of COVID-19 resurgence also had a significant impact. Spain recorded 16,973 new COVID-19 cases in a single day on the 21st, becoming the first European country to exceed one million cumulative confirmed cases.
Looking at trading trends by market participants, individuals were net buyers of 67 billion KRW in the KOSPI market. Foreigners and institutions were net sellers of 73.8 billion KRW and 8 billion KRW, respectively.
Among the top market capitalization stocks, only LG Chem rose by 3.57%, while all other stocks showed a downward trend.
At the same time, the KOSDAQ index stood at 812.70, down 17.97 points (2.16%) from the previous session.
The index opened at 826.71, down 3.96 points (0.48%) from the previous session, and the decline widened in the afternoon.
In terms of supply and demand, individual investors were net buyers of 214 billion KRW, while foreign and institutional investors were net sellers of 38.8 billion KRW and 169.7 billion KRW, respectively.
Among the top market capitalization stocks, only Hugel surged significantly by 11.12%, while all other stocks declined.
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