KOSPI Falls 1.7% Below 3,200... Foreigners and Institutions Sell Over 1 Trillion Won

On the 9th, as the spread of COVID-19 intensifies, the KOSPI index is displayed in the dealing room of Hana Bank in Euljiro, Seoul. On this day, the KOSPI started at 3,245.52, down 7.16 points (0.22%) from the previous session, showing a downward trend. Photo by Moon Honam munonam@

[Asia Economy Reporter Ji-hwan Park] Due to the full-scale onset of the 4th wave of COVID-19, the domestic stock market continues to decline by over 1%. Foreign investors and institutions, concerned about the slowdown in global economic recovery, have been selling stocks worth over 1 trillion won, fueling the index's decline.

As of 1:42 PM on the 9th, the KOSPI stood at 3,197.05, down 55.63 points (1.71%) from the previous day. The index opened at 3,245.52, down 7.16 points (0.22%) from the previous close, but the decline widened during the session, briefly dropping to the 3,180 level. The KOSPI fell below the 3,200 mark again for the first time in over a month since it dropped to 3,199.18 on the trading day of the 1st of last month.

By investor type, foreigners sold a net 1.1114 trillion won and institutions sold a net 451.7 billion won, pulling the index down. This is attributed to the dampened investor sentiment amid concerns over a global economic slowdown caused by the spread of the COVID-19 Delta variant. Meanwhile, individual investors defended the index by net buying 1.5287 trillion won.

The overall market showed weakness, with all stocks from Samsung Electronics, ranked first in KOSPI market capitalization, to LG, ranked 14th, showing declines. Notably, NAVER (-2.37%), SK Hynix (-2.88%), LG Chem (-3.14%), Celltrion (-2.82%), and LG Household & Health Care (-3.18%) experienced significant drops.

At the same time, the KOSDAQ index was at 1,017.87, down 16.61 points (1.61%) from the previous day. The index opened at 1,031.78, down 2.70 points (0.26%), and continued its downward trend.

By investor type, foreigners sold a net 5.3 billion won and institutions sold a net 63 billion won. In contrast, individual investors bought a net 85.8 billion won.

Among the top market capitalization stocks, performances were mixed. Celltrion Healthcare fell 2.32% to 109,500 won compared to the previous trading day. Celltrion Pharm (-3.25%), SK Materials (-0.54%), and CJ ENM (-1.11%) also declined. On the other hand, Kakao Games (2.99%), Seegene (1.33%), and EcoPro BM (4.52%) rose.

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