[Special Stock] KakaoPay Falls Over 4% Intraday on Second Day of Listing
![[Special Stock] KakaoPay Falls Over 4% Intraday on Second Day of Listing](http://www.asiae.co.kr/news/img_view.htm?img=2020080610230310749_1596676983.jpg)
[Asia Economy Reporter Minji Lee] Kakao Pay is falling more than 4% during trading.
At 9:31 a.m. on the 4th, Kakao Pay was trading at 185,000 KRW, down 4.15% from the previous trading day. Earlier in the session, Kakao Pay traded at 180,100 KRW, down 6.2% from the previous day.
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Kakao Pay, which was listed on the KOSPI market yesterday, closed trading at 193,000 KRW, about twice its IPO price (90,000 KRW), becoming the second-largest financial stock by market capitalization after Kakao Bank. Expectations for large-scale passive fund inflows and inclusion in the KOSPI 200 special cases have raised forecasts for stock price increases, but on the second day of listing, Kakao Pay is suddenly showing a downward trend. At this time, foreign investors are maintaining a net selling trend from the previous day (14,9568 shares) and have reportedly sold about 67,000 shares in the early session.
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