KOSPI weathers 1.7 trillion-won 'sell-off'... '100,000-won electronics' collapse
Summary
- It reported that the KOSPI closed up 0.55% despite a 1.6999 trillion won sell-off by foreign investors.
- Samsung Electronics failed to hold the 100,000-won level, falling 1.39% to close at 99,200 won, and SK Hynix also failed to hold the 600,000-won level it had recovered in the early session.
- With foreign net-selling continuing for four trading days, the KOSDAQ and top market-cap stocks also showed mixed performance.
KOSPI, closed at 4026.45, up 0.55% from the previous day
The KOSPI rebounded. However, the rebound narrowed as foreigners continued a large-scale selling offensive. Samsung Electronics ultimately gave up the 100,000-won level, and SK Hynix failed to hold the 600,000-won level it had recovered in the early session.
On the 6th, the KOSPI closed at 4026.45, up 22.03 points (0.55%) from the previous day.
The sharply reduced gain was a disappointing point. In the early session it surged 2.69% to as high as 4111.96, but it turned to a decline due to foreigners' selling offensive and fell intraday to 3985.29. Institutions actively bought stocks and expanded the rebound, but a lack of late-session strength shrank the gain.
In the KOSPI market, foreign investors net-sold 1.6999 trillion won worth of stocks. Large-scale stock selling has continued for four trading days. Over the four trading days since the 3rd, foreigners have sold 6.801 trillion won worth of stocks in the KOSPI market. The fact that they net-bought 490.3 billion won worth of KOSPI200 futures was some consolation.
Individuals and institutions net-bought 884.7 billion won and 830.2 billion won worth of stocks, respectively.
Top market-cap stocks were mixed.
Samsung Electronics, which had defended the 100,000-won level even amid yesterday's sharp decline, fell 1.39% and closed at 99,200 won.
SK Hynix rose 2.42%, but could not hold the 600,000-won level it had recovered in the early session.
LG Energy Solution rose 1.29%.
Doosan Enerbility plunged 5.14%.
Naver, which showed strength amid yesterday's sharp decline by reporting strong earnings, fell 5.21%.
The KOSDAQ closed at 898.17, down 3.72 points (0.41%) from the previous day. In that market as well, foreigners net-sold 131.4 billion won worth of stocks, while individuals and institutions sold 132.1 billion won and 5.2 billion won worth, respectively.
Top market-cap KOSDAQ stocks were also mixed.
Rainbow Robotics and HLB fell 8.62% and 7.17%, respectively, showing notable declines.
Peptron also fell 3.82%.
On the other hand, Alteogen rose 3.4%.
In the Seoul foreign exchange market, the won–dollar exchange rate closed at 1,448.2 won per dollar, up 6.4 won (0.44%) from the previous day.
Han Kyung-woo, Hankyung.com reporter case@hankyung.com
Korea Economic Daily
hankyung@bloomingbit.ioThe Korea Economic Daily Global is a digital media where latest news on Korean companies, industries, and financial markets.
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