KOSDAQ Crashes Below 1,000 Points Due to Foreign and Institutional Selling

[Asia Economy Reporter Park Ji-hwan] On the 10th, the KOSDAQ fell below the 1000 mark due to net selling by foreigners and institutions. The decline was particularly notable among domestic secondary battery stocks, which were affected by Tesla's overnight plunge of over 12%.

As of 10:14 AM, the KOSDAQ was at 997.73, down 1.11% (10.95 points) from the previous trading day. The index opened at 1006.59, down 2.09 points (-0.21%), and the decline widened over time, eventually breaking below the 1000 level.

The index decline is being led by secondary battery stocks. This reflects the impact of Tesla's 12% drop in the U.S. New York stock market overnight, marking its largest daily decline in 14 months since September last year. Domestic secondary battery-related stocks EcoPro BM and L&F fell by 1.70% and 4.31%, respectively. Game stocks such as Kakao Games and Wemade also underperformed, dropping 3.45% and 4.49%, respectively. On the other hand, Celltrion Healthcare (4.22%), Pearl Abyss (1.84%), Celltrion Pharm (3.98%), and HLB (0.74%) rose.

Seo Sang-young, a researcher at Mirae Asset Securities, said, "Tesla's sharp decline overnight and the weakness in other electric vehicle-related stocks are expected to weigh on domestic related stocks."

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