[Special Report] KOSPI Plummets... Samsung Electronics Drops 5%, SK Hynix Falls 7%
[Asia Economy Reporter Minji Lee] The KOSPI plunged over 6%, causing Samsung Electronics and SK Hynix to experience sharp declines.
At 9:50 a.m. on the 23rd in the Korea Composite Stock Price Index (KOSPI) market, Samsung Electronics traded at 42,900 KRW, down 5.51% from the previous session. SK Hynix also fell 7.75% during the same period, trading at 69,000 KRW.
Samsung Electronics' decline is being driven by foreign investors' selling pressure, which has continued for 13 consecutive trading days. Samsung Electronics has dropped about 20% since the beginning of this month. Despite institutional investors' buying, SK Hynix has fallen about 21% over the past month as foreign investors have maintained net selling for 21 consecutive trading days.
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At the same time, the KOSPI is down 6.39% (100.12 points) from the previous session, standing at 1466.03. In the market, individual investors are net buyers of 321.5 billion KRW alone. Foreign and institutional investors sold stocks worth 174.8 billion KRW and 150.6 billion KRW, respectively.
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