The KOSPI and KOSDAQ indices are experiencing significant declines in early trading. In particular, the foreign sell-off in the securities market is putting pressure on the index.
As of 9:11 a.m. on October 13, the KOSPI has fallen by 295.64 points (4.63%) to 6088.60 compared to the previous trading day.
In the securities market, individual and institutional investors are net buying 263.4 billion won and 311.1 billion won, respectively, while foreign investors are net selling 516.4 billion won.
Major stocks by market capitalization are also showing weakness. Samsung Electronics is down 4.39%, SK Hynix by 5.30%, SK Square by 7.22%, Samsung Biologics by 1.50%, LG Energy Solution by 3.27%, and Samsung Electro-Mechanics by 4.51%.
At the same time, the KOSDAQ index has recorded a drop of 16.39 points (1.99%) to 832.80 compared to the previous trading day. In the KOSDAQ market, individual investors are net selling 185.6 billion won, while foreign and institutional investors are net buying 175.1 billion won and 7.5 billion won, respectively.
Most major stocks in the KOSDAQ are also in the red. Alteogen is down 2.16%, EcoPro BM by 4.76%, Juseong Engineering by 0.20%, Simtech by 4.13%, Wonik IPS by 2.14%, and EoTechnics by 2.35%.
On October 12, the Dow Jones Industrial Average closed up 195.60 points (0.38%) at 51,850.55 on the New York Stock Exchange. The S&P 500 index fell by 4.30 points (0.06%) to 7,807.24, while the tech-heavy Nasdaq Composite dropped 120.27 points (0.44%) to 27,245.90.
Notably, the decline among technology stocks, particularly in the memory semiconductor sector, has been pronounced. The Chinese memory semiconductor company Changxin Memory Technologies (CXMT) has made progress in developing DRAM technology and plans to launch next-generation server products within the year, which has added pressure on related stocks.
The Philadelphia Semiconductor Index fell by 2.60%, and U.S. memory semiconductor company Micron Technology dropped by 3.88%. SK Hynix's American Depositary Receipts (ADRs) also fell by 4.02%. Other companies like NVIDIA (-1.29%), TSMC (-1.29%), and Broadcom (-1.88%) also showed weakness.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The recent weakening of individual investor sentiment, the end of Samsung Electronics' share buyback program, and foreign net selling have combined to weaken the supply-demand foundation of the domestic stock market. The end of share buybacks, which had previously acted as a buffer, has also contributed to the weakened supply-demand strength against selling pressure."
As of 9:11 a.m. on October 13, the KOSPI has fallen by 295.64 points (4.63%) to 6088.60 compared to the previous trading day.
In the securities market, individual and institutional investors are net buying 263.4 billion won and 311.1 billion won, respectively, while foreign investors are net selling 516.4 billion won.
Major stocks by market capitalization are also showing weakness. Samsung Electronics is down 4.39%, SK Hynix by 5.30%, SK Square by 7.22%, Samsung Biologics by 1.50%, LG Energy Solution by 3.27%, and Samsung Electro-Mechanics by 4.51%.
At the same time, the KOSDAQ index has recorded a drop of 16.39 points (1.99%) to 832.80 compared to the previous trading day. In the KOSDAQ market, individual investors are net selling 185.6 billion won, while foreign and institutional investors are net buying 175.1 billion won and 7.5 billion won, respectively.
Most major stocks in the KOSDAQ are also in the red. Alteogen is down 2.16%, EcoPro BM by 4.76%, Juseong Engineering by 0.20%, Simtech by 4.13%, Wonik IPS by 2.14%, and EoTechnics by 2.35%.
On October 12, the Dow Jones Industrial Average closed up 195.60 points (0.38%) at 51,850.55 on the New York Stock Exchange. The S&P 500 index fell by 4.30 points (0.06%) to 7,807.24, while the tech-heavy Nasdaq Composite dropped 120.27 points (0.44%) to 27,245.90.
Notably, the decline among technology stocks, particularly in the memory semiconductor sector, has been pronounced. The Chinese memory semiconductor company Changxin Memory Technologies (CXMT) has made progress in developing DRAM technology and plans to launch next-generation server products within the year, which has added pressure on related stocks.
The Philadelphia Semiconductor Index fell by 2.60%, and U.S. memory semiconductor company Micron Technology dropped by 3.88%. SK Hynix's American Depositary Receipts (ADRs) also fell by 4.02%. Other companies like NVIDIA (-1.29%), TSMC (-1.29%), and Broadcom (-1.88%) also showed weakness.
Han Ji-young, a researcher at Kiwoom Securities, stated, "The recent weakening of individual investor sentiment, the end of Samsung Electronics' share buyback program, and foreign net selling have combined to weaken the supply-demand foundation of the domestic stock market. The end of share buybacks, which had previously acted as a buffer, has also contributed to the weakened supply-demand strength against selling pressure."
* This article has been translated by AI.
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