Samcheonpi Broke... KOSDAQ Also Closes Down Over 3%

On the 29th, a dealer is closely watching the monitor at the Hana Bank dealing room in Euljiro, Seoul. On this day, the KOSPI started at 3,078.73, up 9.68 points (0.32%) from the previous trading day, showing an upward trend. Photo by Moon Honam munonam@

[Asia Economy Reporter Hwang Junho] On the 29th, the KOSPI fell below 3000. On that day, the KOSPI closed down 92.84 points at 2976.21. After surpassing 3000 on the 7th, the 3000 level collapsed after 16 trading days.

The KOSPI started the day on an upward trend. It seemed supported by individual investors' rebound buying following the sharp drop the previous day. However, as net selling by foreigners and institutions expanded, the index fell below 3000. On that day, foreigners sold a net 1.4413 trillion KRW, and institutions sold a net 253.7 billion KRW. Accordingly, the KOSPI dropped to 2962.70, widening the decline to 3.47%. Although individuals gradually increased their net buying, it was insufficient to recover the KOSPI above 3000.

Most sectors showed a downward trend that day. The machinery sector recorded a decline of over 5%, while construction, transportation equipment, and pharmaceuticals fell by 4%. Medical precision, transportation and warehousing, food and beverage, services, finance, and non-metallic minerals also showed declines in the 3% range. Among the top 10 companies by market capitalization, none showed an upward trend.

On the contrary, economic indicators showed a relatively positive picture that day. Korea's industrial production in December increased by 3.7% compared to the previous month. Retail sales rose by 0.2%, marking an upward turn after three months since September last year.

On the 28th, the closing price of the KOSDAQ index was displayed on the electronic board in the dealing room of Hana Bank in Euljiro, Seoul. On that day, the KOSDAQ closed at 961.23, down 24.69 points (2.50%) from the previous day. Photo by Mun Ho-nam munonam@

The KOSDAQ also closed lower that day, showing an intraday decline of 4.43% (918.68). Individuals were net buyers of 215.2 billion KRW. However, foreigners and institutions were net sellers of 77.2 billion KRW and 109.2 billion KRW, respectively.

By sector, entertainment, machinery equipment, new growth companies, textiles and apparel, and paper and wood stocks showed declines of around 4%. Among the top 10 companies by market capitalization, only HL Biopharma (HLB) rose by 1.01%, while the rest declined.

On that day, the won-dollar exchange rate closed at 1118.60 KRW, up 0.09% from the previous day.

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