KOSDAQ Extends Decline in the Afternoon... Drops Over 3%

[Image source=Yonhap News]

[Asia Economy Reporter Lee Jung-yoon] On the afternoon of the 12th, the KOSDAQ is extending its decline.

As of 2:29 PM, the KOSDAQ index stood at 836.64, down 29.70 points (3.43%) from the previous trading day. The KOSDAQ index opened at 855.46 and rose to 857.75 earlier in the day but gave up its gains in the afternoon.

Individual investors are preventing the index from falling further by net buying about 332.4 billion KRW, while foreigners and institutions sold approximately 131.5 billion KRW and 196.1 billion KRW, respectively.

At the same time, the KOSPI index also fell to the 2550 level. The KOSPI index recorded 2656.75, down 35.52 points (1.37%) from the previous day. Individuals net bought 290.4 billion KRW, whereas foreigners and institutions net sold about 142.3 billion KRW and 166.4 billion KRW, respectively.

The domestic stock market is showing a downward trend influenced by the release of the U.S. April Consumer Price Index (CPI) and the sharp decline in the New York stock market. The U.S. April CPI rose 8.3% compared to the same period last year, exceeding the expected 8.1%. On the 11th (local time), the Dow Jones Industrial Average closed at 31,834.11, down 326.63 points (1.02%) from the previous session. The Standard & Poor's (S&P) 500 index fell 65.87 points (1.65%) to 3,935.18, and the tech-heavy Nasdaq index dropped 373.43 points (3.18%) to 11,364.24.

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