Foreigners Sell 13 Trillion Won Bombshell "KOSPI Falls Below 3150"... Samsung Electronics Plummets

[Image source=Yonhap News]

[Asia Economy Reporter Lee Seon-ae] The KOSPI index is extending its decline, falling below the 3150 level during trading on the 13th.

As of 10:23 a.m. that day, the KOSPI stood at 3156.91, down 1.60% from the previous trading day. The intraday drop below the 3200 level is the first in nine trading days since the 2nd (intraday low of 3194.00). It also fell to the lowest level since May 31 (intraday low of 3179.87). The index dropped below the 3150 level during trading. It started at 3205.75, down 2.63 points (0.08%) from the previous close, and the decline is widening.

The index decline is attributed to foreign investors' selling pressure. Foreigners currently show a net selling dominance of about 1.3641 trillion KRW.

Leading stocks Samsung Electronics (-3.25%) and SK Hynix (-0.07%), which have seen a significant contraction in semiconductor investment sentiment, are showing continuous weakness, driving the index down.

Han Ji-young, a researcher at Kiwoom Securities, explained, "While the U.S. stock market rose supported by strength in large growth and technology stocks despite weakness in the semiconductor sector and a sharp rise in producer prices in July, the domestic market continues to face lingering uncertainties over the earnings of major domestic semiconductor companies."

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