[Featured Stock] Securities Stocks Plunge Across the Board as KOSPI Swings

As the KOSPI Index showed volatility on February 6, at one point during intraday trading falling below the 5,000 level, major securities stocks, including Kiwoom Securities and Mirae Asset Securities, also plunged across the board.

As of 9:58 a.m. that day, Kiwoom Securities was trading at 410,000 won per share, down 4.65% from the previous session. Mirae Asset Securities was down 3.23%, and Korea Financial Group was recording a decline of 3.78%.

Although the losses narrowed somewhat compared with early trading, a continued broad-based weakness is still evident. Samsung Securities is down 2.34%, NH Investment & Securities is down 2.95%, and Shinyoung Securities is down 3.34%.

This is seen as a spillover effect from the KOSPI’s sharp drop, after it closed down in the high 3% range on the previous day and then showed a steep decline again early in the session on February 6. During early trading that day, the KOSPI Index at one point plunged more than 5%, briefly falling below the 4,900 level.