KOSPI Falls 1.45% Amid COVID-19 Spread... Drops Below 2370 Level

[Image source=Yonhap News]

[Asia Economy Reporter Ji-hwan Park] The KOSPI is increasingly falling as time passes due to the spread of the novel coronavirus infection (COVID-19).

As of 2:38 PM on the day, the KOSPI index recorded 2,372.59, down 34.90 points (1.45%) from the previous session. The index started at 2,405.84, down 1.65 points (0.07%) from the previous day, and the decline is widening.

Concerns about the resurgence of COVID-19 in South Korea have weighed on the index. The Central Disease Control Headquarters announced that 246 new COVID-19 cases were confirmed as of midnight. The total number of confirmed cases surged to 991 over the past five days.

In the KOSPI market, individuals and foreigners sold a net amount of 276.8 billion KRW and 23.8 billion KRW, respectively. Institutions bought a net amount of 313.2 billion KRW.

Among the top market capitalization companies, except for some large-cap stocks, the decline is widening. Some large-cap stocks such as Samsung Electronics (0.86%), Samsung Biologics (0.88%), NAVER (1.31%), Celltrion (0.16%), and Kakao (4.00%) are rising, defending the index.

On the other hand, Samsung SDI (-1.46%), LG Household & Health Care (-4.03%), Samsung C&T (-4.84%), Hyundai Mobis (-3.57%), SK Telecom (-2.53%), and NCSoft (-3.33%) are experiencing large declines. The smaller the market capitalization, the greater the decline.

The KOSDAQ index is also on a downward trend. At the same time, the index is trading at 810.13, down 24.90 points (2.98%) from the previous day. The index started at 834.55, down 0.48 points (0.06%) from the previous trading day, and has steadily declined.

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