KOSDAQ Plunges Over 3% Following Russia's Declaration of War... Falls Below 850 Level

Due to geopolitical tensions surrounding Russia and Ukraine, the KOSPI started on a downward trend. On the 24th, a dealer is checking the situation in Ukraine at the Hana Bank headquarters dealing room in Jung-gu, Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Kwon Jae-hee] The KOSDAQ index plunged more than 3%, falling below the 850 level. The index failed to hold the 850 mark during the session following the announcement by Russian President Vladimir Putin of the commencement of military operations in eastern Ukraine.

As of 2:42 PM on the 24th, the KOSDAQ index stood at 849.31, down 3.2% (28.06 points) compared to the previous trading day.

On this day, the KOSDAQ index opened at 869.90, failing to maintain the 870 level.

By investor type, foreigners and institutions are leading the selling pressure. Foreigners and institutions are net selling 191.5 billion KRW and 34.5 billion KRW respectively. In contrast, individuals are net buying 220.2 billion KRW.

Most sectors are in decline. Publishing and media reproduction (-4.91%) is down nearly 5%. Chemicals (-4.25%), IT components (-4.28%), general electrical and electronics (-4.06%), paper and wood (-3.82%), and telecommunications equipment (-3.80%) are all down between 3% and 4%.

Large-cap stocks are also experiencing significant declines. Enchem is down 13.01%, and Webzen is down 9.31%. Following are Hyundai Bio (-6.96%), Korea BNC (-6.88%), Humasis (-6.88%), Neptune (-6.55%), L&F (-5.37%), and Celltrion Healthcare (-4.14%), all recording declines between 4% and 6%.