Wemade Hits Lower Limit... Domestic Stock Market Starts Weak

From Foreigner Opening to 'Palja'

[Asia Economy Reporter Ji Yeon-jin] The domestic stock market started trading mixed on the 25th, but fell as foreign selling expanded immediately after the opening.

On this day, the KOSPI index started trading at 2442.21, up 0.88 points (0.04%) from the previous day, but turned downward in just over a minute. As of 9:05 a.m., the index was trading at 2439.66, down 1.67 points (0.07%) from the previous day. Foreigners sold a net amount worth approximately 26.2 billion KRW, pulling the index down. Institutions and individuals also sold net amounts worth about 16.9 billion KRW and 7.6 billion KRW, respectively.

At the same time, the KOSDAQ index was down 2.79 points (0.38%) at 735.43. Foreigners sold a net amount worth about 17.3 billion KRW, and institutions also sold about 3.8 billion KRW. Individuals recorded net purchases of about 22.5 billion KRW.

The factor dragging the index down was WEMADE, with a market capitalization of 1.8 trillion KRW on the KOSDAQ, plunging to the lower limit after its self-issued coin WINIX was delisted from domestic cryptocurrency exchanges. WEMADE was trading at 39,400 KRW, down 29.89% from the previous day, and WEMADE MAX also fell to 13,000 KRW, hitting the lower limit. WEMADE PLAY was down 26%.