PiCK
Kospi Closes Down 3.59% at 5,648.79
Summary
- The Kospi closed at 5,648.79 after falling 3.59% from the previous session, erasing all of the prior day’s gains.
- Concerns over the profitability of artificial intelligence investments drove net selling by foreign and institutional investors centered on semiconductor stocks, while retail investors were net buyers.
- Large-cap names and indexes including Samsung Electronics, SK Hynix and the Kosdaq also weakened.
Forecast Trend Report by Period
The Kospi tumbled more than 3% on weakness in U.S. technology shares and heavy selling by foreign and institutional investors.
The benchmark index closed at 5,648.79 on Nov. 3, down 210.29 points, or 3.59%, from the previous session, according to the Korea Exchange. After rising more than 2% a day earlier, it surrendered all of those gains in one session.
Selling in semiconductor stocks continued as concerns over the profitability of artificial intelligence investments resurfaced. Foreign investors and institutions were net sellers of 1.5298 trillion won and 514.7 billion won, respectively, while retail investors were net buyers of 1.6643 trillion won.
Most large-cap stocks also fell. Samsung Electronics ended 4.15% lower at 219,500 won, while SK Hynix closed down 5.03% at 1,398,000 won. Samsung Electro-Mechanics fell 7.38%, SK Square lost 5.37%, LG Energy Solution dropped 5.06% and Hyundai Motor slipped 3.31%.
The Kosdaq also closed lower, falling 29.97 points, or 4.08%, to 704.39. Foreign investors and institutions were net sellers of 76.3 billion won and 234.5 billion won, respectively, while retail investors were net buyers of 319.9 billion won.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.