'Black Monday' Realized... KOSPI Falls Below 2600

3% Decline... KOSPI Drops 100 Points Intraday
Top Market Cap Stocks Wiped Out
KOSDAQ Retreats to 750 Level

Following fears of a recession in the United States, the U.S. stock market plummeted, and the domestic stock market also crashed after 'Black Friday.' On Monday the 5th, the domestic stock market plunged from the opening, falling more than 100 points at one point. Various indices are displayed on the electronic board as employees work in the dealing room of Hana Bank in Euljiro, Seoul. Photo by Heo Younghan younghan@

On the 5th, the KOSPI index fell more than 3%, turning the fear of a 'Black Monday' into reality. The KOSPI index dropped to the 2600 level and even fell to the 2560 level during intraday trading.

As of 9:15 AM that day, the KOSPI index was at 2575.22, down 100.97 points (3.77%) from the previous close. The index started down 2.4% and widened its losses during the session. There were 33 advancing stocks and 881 declining stocks.

By investor type, foreigners were net sellers with 347.1 billion KRW, while institutions (128.8 billion KRW) and individuals (207.1 billion KRW) were net buyers. Foreigners have been selling for two consecutive trading days following last Friday, while individuals have maintained a buying trend.

By sector, insurance (-5.02%) led the declines, followed by transportation equipment (-4.75%), finance (-4.70%), machinery (-4.42%), chemicals (-4.12%), and securities (-4.07%), all recording losses in the 4% range. Additionally, manufacturing (-3.96%) and electrical and electronics (-3.90%) sectors also saw significant declines.

Top market capitalization stocks were also wiped out. Samsung Electronics (-4.77%), SK Hynix (-3.18%), LG Energy Solution (-2.38%), Samsung Biologics (-3.29%), Hyundai Motor (-3.48%), Samsung Electronics Preferred (-4.19%), Kia (-4.67%), Celltrion (-3.51%), KB Financial Group (-5.65%), and POSCO Holdings (-3.23%) all declined.

The market's risk-averse sentiment intensified amid concerns about a possible U.S. economic recession. According to last week's U.S. Department of Labor report, nonfarm payrolls in July increased by 114,000, significantly below the expected 170,000. The unemployment rate surged from 4.1% last month to 4.3%. The number of unemployed in July rose by 352,000 to 7.163 million compared to the previous month.

Meanwhile, at the same time, the KOSDAQ index also fell 26.40 points (3.39%) from the previous close to 752.93. The index started down 1.77% and, like the KOSPI, widened its losses during the session.

In the KOSDAQ market, individuals were the sole net sellers with 99.1 billion KRW, while foreigners (82.6 billion KRW) and institutions (20.9 billion KRW) were net buyers.

Among the top KOSDAQ market cap stocks, all were weak except for Ecopro (0.11%). Ecopro BM (-1.29%), Samchundang Pharmaceutical (-4.51%), NCAM (-3.35%), Celltrion Pharm (-3.34%), RIGABIO (-2.99%), and Hugel (-3.82%) experienced significant declines.

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