The KOSPI index, which had briefly surpassed the 9000 mark for the first time, retreated below that level as it surrendered its earlier gains. The KOSDAQ also experienced a decline of over 4% amid heavy selling by institutional investors.
According to the Korea Exchange, as of 1:22 PM, the KOSPI was trading at 9023.93, down 39.91 points (-0.44%) from the previous trading day. The index opened at 9288.89, up 225.05 points (2.48%), and initially broke through the 9300 mark, but later reversed course and fell.
In the securities market, individual and foreign investors bought a net 572.2 billion won and 411.5 billion won, respectively, helping to support the index. In contrast, institutional investors sold a net 911.1 billion won, focusing on profit-taking.
Seo Sang-young, a researcher at Mirae Asset Securities, cited the cancellation of U.S. Vice President J.D. Vance's visit to Switzerland, concerns over the Financial Times Stock Exchange (FTSE) rebalancing, and large-scale selling by private equity firms as factors contributing to the market's sharp decline.
Large-cap stocks showed mixed performance. Samsung Electronics fell 1.93%, Hyundai Motor dropped 0.83%, LG Energy Solution decreased by 0.25%, and HD Hyundai Heavy Industries fell 3.51%. Conversely, SK Hynix rose 3.26%, SK Square increased by 5.18%, Samsung Electro-Mechanics gained 2.32%, Samsung Life Insurance climbed 4.48%, and Samsung C&T rose 2.99%.
The KOSDAQ index also struggled, recording a decline of 46.24 points (-4.62%) to 954.69 at the same time. The index started strong at 1001.40, up 0.47 points (0.05%), but quickly turned downward, widening its losses.
In the KOSDAQ market, individual and foreign investors bought a net 122 billion won and 218.9 billion won, respectively. However, institutional investors led the decline with a net sell of 361.7 billion won.
All major stocks in the KOSDAQ fell. Alteogen dropped 6.02%, EcoPro BM fell 3.60%, EcoPro decreased 3.15%, Rainbow Robotics declined 6.02%, Juseong Engineering fell 9.32%, Kolon TissueGene dropped 5.16%, Wonik IPS decreased 6.59%, Rino Technology fell 1.52%, HLB dropped 4.49%, and EoTechnics decreased 3.79%.
* This article has been translated by AI.
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