KOSPI Retreats to '2830 Level'... Lowest in Over a Year

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] On the 21st, the KOSPI closed at its lowest level in over a year since December 2020.

On this day, the KOSPI closed at 2,834.29, down 0.99% (28.39 points) from the previous trading day. This is the lowest closing level since December 29, 2020, when it was 2,820.51. The KOSPI opened at 2,837.49, down 0.88% (25.19 points) from the previous day, and continued its downward trend. At one point during the session, it fell as much as 1.59% to 2,817.11.

By investor type, foreigners and institutions sold a net 223 billion KRW and 643.8 billion KRW, respectively. In contrast, individuals bought a net 896.9 billion KRW.

Among the top 10 stocks by market capitalization, KB Financial Group rose 1.34%, and Samsung Biologics increased by 0.25%. On the other hand, Samsung Electronics (-1.18%), SK Hynix (-4.80%), NAVER (-0.60%), LG Chem (-0.29%), Samsung SDI (-0.58%), Hyundai Motor (-0.99%), Kakao (-0.54%), and Kia (-1.35%) declined.

The KOSDAQ closed at 942.85, down 1.65% (15.85 points) from the previous day. The index started at 950.67, down 0.84% (8.03 points) from the previous session, and widened its losses.

By investor type, similar to the KOSPI, individuals alone bought a net 379.5 billion KRW. Foreigners and institutions showed net selling of 321.4 billion KRW and 63.6 billion KRW, respectively.

Among the top 10 stocks by market capitalization, performances were mixed. Celltrion Healthcare (1.06%), Pearl Abyss (1.15%), Kakao Games (0.56%), and Seegene (1.18%) rose. Meanwhile, EcoPro BM fell 4.66%, recording the largest decline. L&F (-1.54%), Wemade (-1.08%), HLB (-1.17%), and Chunbo (-4.11%) also declined.

Seok-hwan Kim, a researcher at Mirae Asset Securities, said, "The domestic stock market was burdened by the weak U.S. stock market and declines in semiconductor-related stocks," adding, "In particular, concerns over reduced demand in the electrical and electronics sector expanded as the U.S. mentioned export restrictions on semiconductors and electronic products to Russia."