'60,000 Electronics' in 300 Days... KOSPI Turns Pale Amid Foreigners' 'Selling'

Foreigners' Massive Selling Leads to Continued Decline Following Previous Day's Plunge
Samsung Electronics Hits Yearly Low of 69,000 Won, Drops Below 60,000 Won for First Time in 10 Months
KOSDAQ Also Declines... Enchem and Ligachem Bio See Large Drops

The KOSPI index ultimately fell again due to a 'volume bomb' from foreign investors. The 'blue-chip' Samsung Electronics plunged to the 60,000 KRW level for the first time in 300 days.

[Image source=Yonhap News]

On the 5th, the KOSPI closed at 2,575.50, down 5.30 points (0.21%) from the previous day. The KOSPI index started at 2,598.36, up 17.56 points from the previous trading day, and buying momentum continued after the opening, pushing the index above the 2,600 mark. It rose to a high of 2,615.80. However, that was the peak. In the afternoon, selling pressure intensified, breaking below the 2,600 level, and the daily candlestick turned negative, eventually closing below the previous day's closing price (2,588.43).

By investor type, individuals bought 464.7 billion KRW, and institutions purchased 121.2 billion KRW. However, foreign investors led the decline by net selling a whopping 590.5 billion KRW, continuing the downward trend from the previous day's crash.

By sector, transportation and warehousing (2.22%), telecommunications (1.93%), textiles and apparel (1.13%), electric and gas utilities (0.74%), services (0.64%), finance (0.04%), and securities (0.04%) closed higher. In contrast, all other sectors ended the day lower. Machinery (-1.86%), precision medical instruments (-1.73%), construction (-1.70%), and pharmaceuticals (-1.64%) experienced relatively large declines.

358 stocks rose, 523 stocks fell, and 54 stocks remained unchanged. The top 10 stocks by market capitalization showed mixed trends. Samsung Electronics fell 1.43%, while SK Hynix rose 2.97%, showing divergent movements. Notably, Samsung Electronics closed at 69,000 KRW, marking its lowest price of the year. The 60,000 KRW level for Samsung Electronics was last seen exactly 300 days ago on November 10 of last year.

Additionally, LG Energy Solution (2.63%), Kia (0.50%), KB Financial Group (1.20%), and Shinhan Financial Group (1.26%) closed higher, managing to hold up despite the overall index decline. LG Energy Solution’s rise is interpreted as influenced by Tesla’s over 4% gain in the U.S. stock market the previous day, driven by strong sales in China. As the leading battery stock, LG Energy Solution is significantly affected by the electric vehicle industry, its downstream sector.

The KOSDAQ index closed at 725.58, down 6.47 points (0.88%) from the previous day. Like the KOSPI, it showed a 'strong start, weak finish' pattern.

By investor type, only individuals bought, purchasing 34.6 billion KRW. In contrast, institutions sold 24.0 billion KRW, and foreign investors sold 16.7 billion KRW.

560 stocks rose, 1,010 stocks fell, and 100 stocks remained unchanged. Among the top 10 stocks by market capitalization, all except HLB (0.81%) and Hugel (1.06%) declined. Notably, Enchem (-7.12%) and Ligacymbio (-3.00%) experienced relatively large drops.

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