The South Korean stock market experienced a sharp decline on October 15, with both the KOSPI and KOSDAQ indices falling by more than 8%, leading to consecutive circuit breaker activations. This marked the first activation of the first-level circuit breaker for both indices since late July.
According to the Korea Exchange, as of 1:40 PM, the KOSPI was down 436.42 points (7.23%) at 5,574.39 compared to the previous trading day.
Earlier in the day, the KOSPI triggered a first-level circuit breaker at 12:38 PM after dropping over 8%. The KOSDAQ market also activated its circuit breaker at 12:23 PM, halting trading for 20 minutes.
The Korea Exchange activates a first-level circuit breaker when either the KOSPI or KOSDAQ falls by more than 8% for one minute. When triggered, trading is suspended for 20 minutes, and order acceptance, excluding canceled orders, is paused. After trading resumes, a single-price trading session occurs for 10 minutes.
In the securities market, foreign investors continued to sell off shares. While individual and institutional investors bought a net 1.9029 trillion won and 1.8665 trillion won, respectively, foreign investors sold a net 4.2838 trillion won. This marks six consecutive trading days of net selling by foreign investors.
Most large-cap stocks also saw declines. Samsung Electronics fell by 8.94%, SK Hynix by 10.36%, SK Square by 8.45%, and Samsung Electro-Mechanics by 15.36%.
At the same time, the KOSDAQ index recorded a drop of 60.80 points (7.36%) to 763.38. In the KOSDAQ market, foreign investors were net buyers of 910 billion won, while individuals and institutions sold a net 597 billion won and 354 billion won, respectively.
Major stocks in the KOSDAQ also faced declines, including EcoPro (-8.18%), Alteogen (-4.68%), JUSUNG Engineering (-12.89%), Wonik IPS (-14.24%), and IOTech (-9.5%).
Han Ji-young, a researcher at Kiwoom Securities, noted, "There may be a sense of uncertainty about where the bottom lies. In the upcoming third-quarter earnings season, we will need to address AI concerns as we did in the second quarter, which may lead to increased volatility during that process."
According to the Korea Exchange, as of 1:40 PM, the KOSPI was down 436.42 points (7.23%) at 5,574.39 compared to the previous trading day.
Earlier in the day, the KOSPI triggered a first-level circuit breaker at 12:38 PM after dropping over 8%. The KOSDAQ market also activated its circuit breaker at 12:23 PM, halting trading for 20 minutes.
The Korea Exchange activates a first-level circuit breaker when either the KOSPI or KOSDAQ falls by more than 8% for one minute. When triggered, trading is suspended for 20 minutes, and order acceptance, excluding canceled orders, is paused. After trading resumes, a single-price trading session occurs for 10 minutes.
In the securities market, foreign investors continued to sell off shares. While individual and institutional investors bought a net 1.9029 trillion won and 1.8665 trillion won, respectively, foreign investors sold a net 4.2838 trillion won. This marks six consecutive trading days of net selling by foreign investors.
Most large-cap stocks also saw declines. Samsung Electronics fell by 8.94%, SK Hynix by 10.36%, SK Square by 8.45%, and Samsung Electro-Mechanics by 15.36%.
At the same time, the KOSDAQ index recorded a drop of 60.80 points (7.36%) to 763.38. In the KOSDAQ market, foreign investors were net buyers of 910 billion won, while individuals and institutions sold a net 597 billion won and 354 billion won, respectively.
Major stocks in the KOSDAQ also faced declines, including EcoPro (-8.18%), Alteogen (-4.68%), JUSUNG Engineering (-12.89%), Wonik IPS (-14.24%), and IOTech (-9.5%).
Han Ji-young, a researcher at Kiwoom Securities, noted, "There may be a sense of uncertainty about where the bottom lies. In the upcoming third-quarter earnings season, we will need to address AI concerns as we did in the second quarter, which may lead to increased volatility during that process."
* This article has been translated by AI.
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