KOSPI Drops 1.74% to 3,096.78 After Weak Opening
Most Sectors in Decline; KOSDAQ Also Down
The Korean stock market continued its downward trend on August 20 after opening lower. The KOSPI fell by more than 50 points, dropping below the 3,100 mark.
As of 9:40 a.m. on August 20, the KOSPI index was trading at 3,096.78, down 54.78 points (1.74%) from the previous day. The index opened at 3,121.52, down 30.4 points (0.95%), and further extended its losses, falling to the 3,090 level. Foreign investors and institutions recorded net purchases of KRW 79.1 billion and KRW 206.1 billion, respectively, while individual investors sold KRW 283.2 billion worth of stocks.
The KOSPI index, along with the won/dollar exchange rate, is displayed on the monitors in the dealing room of Hana Bank in Jung-gu, Seoul. Photo by Jo Yongjun
Among the top market cap stocks, only Samsung Electronics (0.57%), Hyundai Motor (0.23%), and Samsung Electronics Preferred (0.17%) rose. In contrast, most other major stocks declined, including Doosan Enerbility (-9.58%), Hanwha Ocean (-5.09%), SK Hynix (-3.52%), HD Korea Shipbuilding & Offshore Engineering (-3.24%), Kakao (-2.61%), HD Hyundai Heavy Industries (-2.46%), Samsung C&T (-2.24%), Naver (-2.00%), Hanwha Aerospace (-1.93%), KB Financial (-1.83%), Hyundai Mobis (-1.57%), LG Energy Solution (-1.56%), Celltrion (-1.21%), and Samsung Biologics (-0.68%).
By sector, all industries were in decline, including Machinery & Equipment (-6.27%), Electricity & Gas (-4.97%), Construction (-4.82%), Securities (-3.65%), Medical Precision Instruments (-2.64%), Mid-cap stocks (-2.26%), Finance (-2.11%), General Services (-2.10%), IT Services (-2.06%), Transportation Equipment & Parts (-1.98%), and Metals (-1.95%).
At the same time, the KOSDAQ index was at 769.96, down 18.00 points (2.28%) from the previous day. The index opened at 778.63, down 9.33 points (1.18%), and continued to widen its losses. Foreign investors and individuals recorded net purchases of KRW 15.8 billion and KRW 57.5 billion, respectively, while institutions sold KRW 48.4 billion worth of stocks.
Among the top market cap stocks, Samchundang Pharm (1.19%) and Peptron (0.66%) rose. However, most other major stocks declined, including ABL Bio (-4.57%), Legochem Bio (-3.81%), PharmaResearch (-3.56%), HLB (-3.45%), Rainbow Robotics (-3.45%), Classys (-2.60%), Alteogen (-2.46%), Silicon Two (-2.46%), Lino Industries (-2.15%), Kolon TissueGene (-2.03%), Caregen (-1.71%), Hugel (-1.63%), EO Technics (-1.42%), Celltrion Pharm (-1.13%), and JYP Ent. (-1.01%).
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