Black Monday... KOSPI Drops 3% and KOSDAQ Falls 4%

Samsung Electronics Drops 4%, SK Hynix Falls Over 3%

[Asia Economy Reporter Minji Lee] Due to the impact of the novel coronavirus infection (COVID-19), the KOSPI plunged more than 3% in a single day.

On the 24th, when the KOSPI index started lower due to fears of the spread of COVID-19, Hana Bank in Euljiro, Seoul. Photo by Moon Honam munonam@

On the 24th, the KOSPI closed at 2,079.04, down 83.90 points (3.87%) from the previous session. The index opened at 2,114.04, down 48.80 points (2.26%) from the previous session, and widened its decline throughout the day.

In the market, foreign investors sold stocks worth 782.3 billion won, pulling the index down. Individuals and institutions bought stocks worth 607.6 billion won and 193.3 billion won, respectively.

By sector, the declines were smaller in telecommunications (-1.51%), food and beverages (-1.98%), non-metallic minerals (-2.05%), and electric and gas utilities (-2.48%).

Among the top market capitalization stocks, Samsung Electronics closed at 56,800 won, down 4.05% from the previous session. SK Hynix (-3.40%), Samsung Biologics (-5.24%), Naver (-2.90%), LG Chem (-2.95%), Hyundai Motor (-4.30%), Samsung SDI (-4.61%), Celltrion (-4.52%), and Hyundai Mobis (-4.16%) also closed lower.

Sangyoung Seo, a researcher at Kiwoom Securities, explained, “The fear sentiment caused by the rapid increase in COVID-19 confirmed cases is acting as a burden, expanding market volatility. With the possibility of profit-taking sales due to high valuations increasing, the fear sentiment related to COVID-19 has highlighted the situation, leading to a flood of sell orders.”

The KOSDAQ index closed at 639.29, down 28.70 points (4.30%) from the previous session. It opened at 653.40, down 14.59 points (2.18%) from the previous session, and continued to decline throughout the day.

In the market, individuals and institutions sold stocks worth 30.4 billion won and 2.3 billion won, respectively. Foreign investors alone bought stocks worth 43.0 billion won.

By sector, the declines were smaller in paper and wood (-1.80%), telecommunication services (-1.94%), digital content (-2.78%), transportation (-2.84%), and internet (-2.86%).

Among the top market capitalization stocks, HL Biotech closed at 86,500 won, down 7.49% from the previous session. Celltrion Healthcare (-2.49%), Pearl Abyss (-1.71%), Studio Dragon (-3.59%), CJ ENM (-4.71%), KMW (-6.75%), and EcoPro BM (-0.70%) also declined.

This content was produced with the assistance of AI translation services.