Domestic Stock Market Declines Over 2% Due to Individual Panic Selling... Institutions and Foreigners Scoop Up

KOSPI and KOSDAQ Both Decline

The domestic stock market opened lower on the 4th, led by panic selling from individual investors. Meanwhile, institutions and foreigners showed a net selling preference but engaged in bargain hunting.

As of 9:03 AM, the KOSPI index stood at 2,598.13, down 66.50 points (2.50%) from the previous trading day. The index started with a 2.80% decline before showing some recovery.

There were 36 advancing stocks, 852 declining stocks, and 20 stocks unchanged.

In the KOSPI market, individuals led the decline by selling stocks worth 24.7 billion KRW, while institutions and foreigners bought stocks worth 19.9 billion KRW and 5.5 billion KRW respectively.

By sector, the largest declines were seen in machinery (-3.51%), medical precision (-3.35%), electrical and electronics (-3.18%), manufacturing (-2.69%), chemicals (-2.67%), services (-2.25%), and pharmaceuticals (-2.03%). Steel and metals, textiles and apparel, non-metallic minerals, food and beverages, and paper and wood sectors also showed weakness with declines around 1%.

Top market cap stocks were all down. Samsung Electronics (-1.93%), SK Hynix (-6.18%), LG Energy Solution (-2.55%), Samsung Biologics (-1.46%), Hyundai Motor (-2.11%), Samsung Electronics Preferred (-1.69%), Celltrion (-1.83%), Kia (-1.66%), KB Financial Group (-1.15%), and POSCO Holdings (-2.23%) all declined.

At the same time, the KOSDAQ index was at 739.52, down 20.85 points (2.74%). The index started with a 2.86% drop before slightly narrowing the loss.

Individuals sold stocks worth 108.8 billion KRW, while foreigners and institutions bought stocks worth 92.1 billion KRW and 17.0 billion KRW respectively.

In the KOSDAQ market, sectors with large declines included machinery equipment (-3.62%), general electrical and electronics (-2.97%), chemicals (-2.81%), entertainment and culture (-2.77%), metals (-2.72%), manufacturing (-2.71%), and transportation equipment and parts (-2.72%).