KOSPI Falls Over 1% in Afternoon... "Impact of COVID-19 Spread in China"
[Asia Economy Reporter Minji Lee] The downward trend of the KOSPI and KOSDAQ indices continues into the afternoon.
As of 1:49 PM on the 21st, the KOSPI is at 2415.26, down 1.2% (29.22 points) compared to the previous trading day. The index started the day with a slight rise of about 0.06% from the previous day but quickly turned downward and has been widening its losses in the afternoon.
Looking at investor trends, foreign investors are showing an increasing net selling trend. Individuals and institutions bought stocks worth 169.4 billion KRW and 26.2 billion KRW respectively, while foreign investors alone sold stocks worth 205.5 billion KRW. Sangyoung Seo, a researcher at Mirae Asset Securities, said, "As the spread of COVID-19 in China progresses, foreign investors continue net selling in both spot and futures markets," adding, "This has been identified as a factor weakening the Korean won, and domestic exports until the 20th have sharply declined by 17% year-on-year, which also negatively affected the index."
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Among the top market capitalization stocks, Samsung Electronics (-1.29%), LG Energy Solution (373220)">LG Energy Solution (-3.51%), SK Hynix (-2.38%), LG Chem (-2.41%), Samsung SDI (-1.14%), Hyundai Motor (-1.18%), NAVER (-1.62%), and Kia (-1.36%) declined, while Samsung Biologics (0.68%) was the only stock to rise. The KOSDAQ index is at 719.95, down 1.63% (11.95 points) compared to the previous trading day. The decline is steeper than in the morning. In the KOSDAQ market, foreign investors and institutions sold stocks worth 93.2 billion KRW and 122.7 billion KRW respectively, putting downward pressure on the index. Individuals alone bought stocks worth 235.7 billion KRW. Among the top market capitalization stocks, BM (-3.57%), Celltrion Healthcare (-1.52%), L&F (-2.64%), HLB (-2.21%), Kakao Games (-1.73%), EcoPro (-1.12%), Celltrion Pharm (-3.47%), and Cheonbo (-1.49%) declined, while Pearl Abyss (1.39%) and Rino Industries (0.84%) rose.
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