KOSPI Drops 1.7% Intraday, Falls to 3,970 Range

KOSDAQ Falls Below the 900 Mark

The KOSPI index fell by more than 1.7% during intraday trading, dropping to the 3,970 range. This appears to be a pause as investors take profits following a steep rally.

As of 10:21 a.m. on October 28, the KOSPI stood at 3,972.56, down 1.74% from the previous day. After opening lower at 4,010.47, the index continued to widen its losses.

The decline in the index appears to be driven by selling from foreign investors and institutions. In particular, foreign investors recorded net sales of 1.2284 trillion won, which, although the market has not yet closed, marks the largest net selling since April. Institutions also posted net sales of 326.3 billion won, while individual investors bought a net 1.6262 trillion won, absorbing the sell-off.

Most of the top 10 stocks by market capitalization were weak. HD Hyundai Heavy Industries posted the largest drop at 4.0%. This was followed by SK Hynix (-3.1%), Hanwha Aerospace (-2.8%), Samsung Electronics (-2.5%), Hyundai Motor (-2.0%), Kia (-1.7%), KB Financial Group (-1.4%), and LG Energy Solution (-1.2%), with most falling by more than 1%. Only Doosan Enerbility (up 1.3%) and Samsung Biologics (up 0.9%) managed to hold up.

The KOSDAQ also started slightly higher at 902.82, but immediately after the market opened, it dropped to 896.36, down 0.70% from the previous day. Since then, it has hovered around the 900 level, remaining in slightly negative territory.

Foreign investors alone recorded net sales of 124.9 billion won, while individuals and institutions recorded net purchases of 150.2 billion won and 3.5 billion won, respectively.

Again, most of the top 10 stocks by market capitalization were weak. Samchundang Pharm (-3.1%), Peptron (-3.1%), and Ecopro BM (-1.2%) saw notable declines. Only Rainbow Robotics (up 1.3%) and Ecopro (up 0.3%) posted gains.

Yonhap News Agency

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