KOSPI Extends Decline, Breaks Below 2440... Foreigners Sell Over 80 Billion Won

[Image source=Yonhap News]

[Asia Economy Reporter Lee Myunghwan] The KOSPI fell below the 2440 level on the afternoon session of the 23rd as the downward trend intensified. Foreign investors influenced the index decline by selling stocks worth around 80 billion KRW in the securities market.

As of 2 p.m. that day, the KOSPI stood at 2439.09, down 0.95% (23.41 points) from the previous trading day. The KOSPI opened the session at 2449.31, down 0.54% (13.19 points), and narrowed its losses somewhat during the morning session. However, in the afternoon session, the decline widened, approaching a nearly 1% drop.

By investor type, individuals and institutions bought stocks worth 74.6 billion KRW and 6.9 billion KRW respectively, while foreign investors alone sold a net 81.1 billion KRW.

Most of the top market capitalization stocks are also showing 'blue lights' (declines). Samsung Electronics traded at 59,200 KRW, down 1.33% (800 KRW) from the previous day, and SK Hynix was down 1.16% (1,100 KRW) at 94,100 KRW. LG Chem (-2.97%), Samsung Biologics (-2.23%), and NAVER (-1.83%) are also showing downward trends. LG Energy Solution and Hyundai Motor are trading at the same prices as the previous day, 442,500 KRW and 189,000 KRW respectively.

At the same time, the KOSDAQ index stood at 785.77, down 1.27% (10.10 points) from the previous day. The KOSDAQ index started at 789.95, down 0.74% (5.92 points), and widened its losses in the afternoon.

By supply and demand participants, individuals alone bought stocks worth 54.9 billion KRW, while institutions and foreigners sold net amounts of 40.7 billion KRW and 19.6 billion KRW respectively.

All of the top market capitalization stocks on the KOSDAQ are declining. Alteogen fell 3.63% from the previous day, showing a prominent downward trend, while Celltrion Healthcare (-3.23%), L&F (-2.72%), Celltrion Pharm (-2.62%), Chunbo (-2.46%), and HLB (-2.19%) are recording declines in the 2% range.

The decline is presumed to be influenced by investor sentiment affected by the won-dollar exchange rate, which rose to a new high following the previous day. Kim Daejun, a researcher at Korea Investment & Securities, said, "The won-dollar exchange rate exceeded 1,345 won in the early session but has fallen back due to verbal intervention by the foreign exchange authorities," adding, "Although the immediate crisis has been averted, attention should continue as the Euro remains a potential risk."

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