Shaken KOSPI Returns to the 1800s

Closing at 1889... Down 1.34% from the Previous Day
KOSDAQ Also Breaks 630 Level... Dropped Over 2% Intraday

[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI closed again in the 1800s after two days. Although individual investors bought 600 billion KRW worth of stocks, it seems they could not withstand the selling pressure from institutions and foreigners.

On the 24th, the KOSPI closed at 1889.01, down 1.34% (25.72 points) from the previous day. It fell below the 1900 mark around 1 PM and dropped to 1880.71, down 1.78% from the previous day, around 2 PM. It then slightly rebounded but closed below the 1890 level.

In the securities market, individuals net purchased 632.5 billion KRW. On the other hand, foreigners and institutions net sold 231.6 billion KRW and 422 billion KRW, respectively.

Most sectors declined. The construction sector fell the most, down 3.27%. This was followed by transportation equipment (2.56%), telecommunications (2.30%), electricity and gas (2.24%), textiles and apparel (2.23%), and non-metallic minerals (2.00%), with many sectors dropping more than 2%. Meanwhile, precision medical instruments (1.72%), food and beverages (1.37%), and transportation and warehousing (1.02%) rose.

Most of the top 10 market capitalization stocks also declined. Samsung SDI had the largest drop at 2.7%. This was followed by Hyundai Motor (2.4%), LG Chem (2.0%), Samsung Biologics (1.6%), SK Hynix (1.4%), Celltrion (1.1%), and Samsung Electronics (1.0%). Meanwhile, NAVER rose 1.3%, and Samsung C&T remained flat.

The KOSDAQ also closed down 1.68% (10.83 points) at 632.96 compared to the previous day. At 2:05 PM, it even dropped to 629.12, down 2.28% from the previous day.

In the KOSDAQ market, individuals net purchased 165.5 billion KRW. Conversely, foreigners and institutions net sold 105 billion KRW and 57.1 billion KRW, respectively.

Again, most sectors showed a downward trend. Non-metallic and telecommunications equipment sectors fell the most, down 3.27% and 3.06%, respectively. This was followed by general electrical and electronics (2.91%), entertainment and culture (2.89%), paper and wood (2.77%), and telecommunications services (2.70%), with many sectors dropping in the high 2% range. Meanwhile, the transportation sector rose 3.20%. Additionally, textiles and apparel (0.22%), information devices (0.17%), and distribution (0.13%) also rose slightly.

Most of the top market capitalization stocks in the KOSDAQ also declined. Among the top 10 stocks, only Celltrion Healthcare rose 1.1%. KMH dropped the most, down 3.7%. This was followed by Studio Dragon (3.2%), HL Biopharma and Pearl Abyss (each 2.0%), SK Materials and CJ ENM (each 1.7%), and Hugel (1.3%).

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