Despite Individual Net Buying of 1 Trillion Won... KOSPI Turns Down, 2700 Level at Risk

KOSDAQ Also Drops Over 2%

On the afternoon of the 8th, when the KOSPI fell more than 1%, employees are working in the Hana Bank dealing room in Jung-gu, Seoul.
[Image source=Yonhap News]

[Asia Economy Reporter Minwoo Lee] The KOSPI, which had been rising sharply, came to an abrupt halt. It fell by about 1.6% in a single day, nearly breaking below the 2700 level.

On the 8th, the KOSPI closed at 2700.93, down 1.62% (44.51 points) from the previous day. After starting slightly lower, the index continued to decline, approaching a breakdown of the 2700 level. The '2700 era,' which was entered for the first time ever on the 4th, is now at risk of ending after just three days.

Foreigners and institutions' selling pressure dragged the index down, with net sales of 845.6 billion KRW and 275.2 billion KRW respectively. On the other hand, individuals were net buyers, purchasing 1.1287 trillion KRW.

Most sectors declined. The pharmaceutical sector saw the largest drop at -7.58%. This was followed by non-metallic minerals (-2.68%), manufacturing (-1.98%), transportation equipment (-1.92%), and electricity and gas (-1.68%). Meanwhile, machinery (0.65%), textiles and apparel (0.62%), and telecommunications (0.34%) rose.

Among the top 10 market capitalization stocks, all except Samsung SDI (1.2%) fell. Celltrion experienced the largest drop at 13.2%, followed by Samsung Biologics (-5.9%), Hyundai Motor (-3.6%), Kakao (-2.7%), SK Hynix (-2.5%), Kia (-2.3%), and Samsung Electronics (-1.6%).

The KOSDAQ's decline was even steeper. It closed at 906.84, down 2.16% from the previous day. The opening atmosphere was not bad, starting slightly higher and rising to 933.14 early in the session, the highest level since the dot-com bubble burst in October 2000. However, after reaching this peak, it sharply fell to close at the day's lowest point.

Again, foreign and institutional selling was prominent. Foreigners were net sellers of 125.3 billion KRW, and institutions sold 48.1 billion KRW. Individuals were net buyers with 208.2 billion KRW.

Many sectors declined. The retail sector's drop was outstanding at -11.85%, followed by transportation equipment and parts (-4.05%), pharmaceuticals (-3.46%), other services (-2.50%), and telecommunications equipment (-1.72%). Conversely, internet (5.59%), paper and wood (1.66%), and entertainment and culture (1.60%) sectors rose.

Most of the top 10 market capitalization sectors also fell. Celltrion Healthcare plummeted by 16.7%. Genexine (-14.2%) and Celltrion Pharm (-13.6%) also saw significant declines. This was followed by HL Biotech (-8.5%), Alteogen (-2.0%), and Seegene (-1.3%). Pearl Abyss (1.1%) and EcoPro BM (0.6%) rose.

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