KOSPI and KOSDAQ Hit New Lows... Afternoon Sees Widening Decline
[Asia Economy Reporter Kwon Jae-hee] Both the KOSPI and KOSDAQ indices hit new intraday lows amid foreign selling pressure, with losses widening further in the afternoon. Both major indices started the day with slight gains but turned downward early in the session and gradually deepened their declines.
As of 1:57 PM on the 20th, the KOSPI index was trading at 2379.50, down 2.52% (61.43 points) from the previous trading day. The KOSPI opened at 2449.89, up 0.37% (8.96 points) from the previous day, but turned downward early in the session, hitting new intraday lows and widening its losses.
Among the top 10 market capitalization stocks, all except Samsung SDI (0.18%) were in decline. Samsung Electronics (-2.68%), LG Energy Solution (-3.41%), SK Hynix (-3.01%), Samsung Biologics (-2.04%), Samsung Electronics Preferred (-3.07%), LG Chem (-1.73%), NAVER (-2.32%), Hyundai Motor (-0.59%), and Kakao (-4.29%) all recorded losses.
By investor type, individual and institutional investors were net buyers of 396.3 billion KRW and 212.1 billion KRW respectively, while foreigners were net sellers of 635.7 billion KRW.
At the same time, the KOSDAQ index was down 4.01% (32.03 points) from the previous trading day, standing at 766.66. The KOSDAQ opened at 804.48, up 0.72% (5.79 points) from the previous day, but then deepened its decline.
Among the top 10 market capitalization stocks on the KOSDAQ, the secondary battery stocks, which had been the only ones declining in the morning session, also turned downward. Only Alteogen (0.53%) recorded gains, while EcoPro BM (-0.27%), Celltrion Healthcare (-3.40%), Kakao Games (-10.50%), HLB (-2.96%), Pearl Abyss (-4.68%), Celltrion Pharm (-0.81%), Cheonbo (-1.83%), and CJ ENM (-2.59%) were all down.
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By investor type, individual and institutional investors were net buyers of 203.3 billion KRW and 21.3 billion KRW respectively, while foreigners sold stocks worth 214.9 billion KRW.
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