KOSPI Falls Below 2000 Intraday Amid COVID-19 Spread Fear... KOSDAQ Drops Over 3%

[Image source=Yonhap News]

[Asia Economy Reporter Eunmo Koo] The KOSPI plunged due to fears of the novel coronavirus infection (COVID-19), breaking below the 2000 mark during the trading session.

On the 28th, the KOSPI opened at 2020.17, down 34.72 points (1.69%) from the previous trading day. Throughout the morning session, the decline gradually widened, and by around 12 PM, it fell to the 1900 level. As of 1 PM, it was recording 1998.80, down 56.09 points (2.73%) compared to the previous day.

Looking at the current trading trends by participant, foreign investors are net sellers of 354.7 billion KRW, pulling the index down. Foreign investors have sold more than 3 trillion KRW in the KOSPI market alone since the beginning of this week. Meanwhile, institutional and individual investors are net buyers of 198.9 billion KRW and 128.3 billion KRW, respectively.

Top market capitalization stocks are also falling without exception. Hyundai Motor, Samsung SDI, Hyundai Mobis, LG Chem, and NAVER are among the stocks with the highest decline rates.

The KOSDAQ index is also plunging, dropping more than 3%. The KOSDAQ index opened at 626.36, down 11.81 points (1.85%) from the previous day. Individual and institutional investors are net sellers, increasing the intraday decline. As of 1 PM, it is recording 616.26, down 21.91 points (3.43%) compared to the previous day.

Regarding the current supply and demand situation, individual and institutional investors are net sellers of 42.5 billion KRW and 24.8 billion KRW, respectively. On the other hand, foreign investors are net buyers of 70.9 billion KRW.

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