The domestic stock market experienced a 'Black Tuesday' as the KOSPI index fell over 9% due to the impact of declining U.S. tech stocks. The KOSPI dropped below the 6,100 mark, leading to a significant contraction in investor sentiment, with both the main and KOSDAQ markets triggering sell-side circuit breakers and a full circuit breaker.
As of 2:07 PM on July 28, the KOSPI was down 662.01 points (9.80%) at 6,093.74, having opened 355.48 points (5.26%) lower at 6,400.27 and continued to decline.
In the morning, the first-level circuit breaker was activated in the main market for the eighth time this year, followed by the KOSDAQ market at 12:01 PM, marking the third circuit breaker activation in the KOSDAQ this year and the 13th in history.
Foreign investors continued to sell off, with net sales amounting to 3.941 trillion won in the main market. In contrast, individual and institutional investors bought 3.3344 trillion won and 609.4 billion won, respectively, indicating some bargain hunting.
All major stocks in the KOSPI saw declines, including Samsung Electronics (-12.01%), SK Hynix (-12.17%), SK Square (-14.42%), Samsung Electro-Mechanics (-15.09%), Hyundai Motor (-9.68%), LG Energy Solution (-6.31%), Samsung Biologics (-0.45%), KB Financial (-4.69%), and Samsung Life (-10.11%).
At the same time, the KOSDAQ index was down 58.45 points (7.64%) at 706.41, having started 22.73 points (2.97%) lower at 742.13 and further widening its losses.
In the KOSDAQ market, individual investors were net buyers, purchasing 115.5 billion won, while foreign and institutional investors sold off 48.9 billion won and 67.7 billion won, respectively.
Most of the top stocks in the KOSDAQ also showed weakness, with declines seen in Alteogen (-5.93%), EcoPro BM (-7.24%), EcoPro (-8.56%), Rainbow Robotics (-9.08%), JUSUNG Engineering (-11.14%), Rino Technology (-11.17%), Wonik IPS (-14.06%), HLB (-3.34%), and ABL Bio (-4.82%). However, Pharma Research saw a rise of 2.30%.
* This article has been translated by AI.
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