KOSPI Closes Down Over 2% for 2 Consecutive Trading Days... KOSDAQ at 940 Level

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] The KOSPI and KOSDAQ indices fell more than 2%, closing lower for the second consecutive trading day. The KOSPI threatened the 3000-point level, while the KOSDAQ index also dropped below the 950-point mark.

On the 18th, the KOSPI closed at 3013.93, down 71.97 points (2.33%) from the previous day. The KOSPI started lower and steadily widened its losses throughout the session due to net selling by foreign and institutional investors, ending the day down nearly 3%.

Looking at trading trends by participant, institutional and foreign investors led the decline with net sales of 272.9 billion KRW and 222.1 billion KRW, respectively. In contrast, individual investors were net buyers with 515.1 billion KRW.

By sector, construction (1.06%) and transportation equipment (0.25%) rose, while transportation and warehousing (-4.35%), distribution (-4.27%), pharmaceuticals (-3.89%), and insurance (-3.78%) declined.

Among the top market capitalization stocks, Samsung C&T Corporation (Samsung Mulsan) plunged 6.84%, and Celltrion (-4.56%), Samsung SDI (-4.21%), SK Innovation (-3.81%), Samsung Electronics (-3.41%), and LG Household & Health Care (-2.59%) also fell. On the other hand, SK Hynix (1.96%), Hyundai Mobis (0.62%), and Kia Motors (0.56%) rose.

In the KOSPI market that day, 164 stocks rose, including three that hit the upper price limit, while 715 stocks fell with no stocks hitting the lower price limit. Thirty stocks remained unchanged.

The KOSDAQ index also closed down more than 2%. The KOSDAQ index showed mixed fluctuations in the morning session, then turned downward around 1 p.m. and steadily widened losses, closing at 944.67, down 19.77 points (2.05%) from the previous day.

By trading participant, institutional investors were net sellers of 7.5 billion KRW, while foreign and individual investors were net buyers of 12.5 billion KRW and 11 billion KRW, respectively.

By sector, most sectors declined, including publishing and media replication (-3.63%), paper and wood (-3.43%), other services (-3.15%), and telecommunications services (-2.88%).

Among the top market capitalization stocks, Seegene (-4.67%), Alteogen (-4.64%), Celltrion Pharm (-4.22%), Celltrion Healthcare (-2.93%), and Genexine (-2.80%) fell, while Hugel (3.60%) and Pearl Abyss (1.46%) rose.

In the KOSDAQ market that day, 273 stocks rose, including four that hit the upper price limit, while 1,058 stocks fell with no stocks hitting the lower price limit. Sixty-five stocks remained unchanged.