‘Foreign Investors Dump 1 Trillion Won’—KOSPI Plunges Over 2%, Falls Below 4,000 [fn Closing Market]

[Financial News] Amid ongoing concerns about a bubble in the Artificial Intelligence (AI) industry, foreign investors unleashed a massive sell-off of 1 trillion won on the 16th, pushing the KOSPI below the 4,000 threshold. Investor sentiment sharply deteriorated as caution grew ahead of the U.S. Employment Report set to be released later that night.
The KOSPI closed at 3,999.13, down 2.24% from the previous trading day. After opening at 4,093.32, up 0.07%, the index quickly turned downward, falling below 4,000 at around 3:04 p.m. and hitting a low of 3,996.23, a 2.31% drop.
In the KOSPI Market, foreign investors and institutions net sold 1.03 trillion won and 225.7 billion won, respectively, dragging the index down. Foreign investors continued their heavy selling for a second consecutive session, offloading more than 1 trillion won after nearly reaching that amount the previous day. Individual investors stepped in as bargain hunters, net buying 1.2547 trillion won.
The two largest stocks by market capitalization, Samsung Electronics and SK hynix, also plunged 1.91% and 4.33%, closing at 102,800 won and 530,000 won, respectively.
By sector, metals tumbled nearly 7%, while construction (-3.18%), transportation equipment and parts (-3.11%), and electrical and electronics (-3.05%) all ended down more than 3%. Meanwhile, food, beverages and tobacco (up 1.76%), telecommunications (up 0.92%), and textiles and apparel (up 0.58%) were among the few gainers.
The KOSDAQ Index also plummeted 2.42% from the previous session to close at 916.11. In the KOSDAQ Market, foreign investors and institutions net sold 357.9 billion won and 6.6 billion won, respectively, while individuals net bought 407.5 billion won.

elikim@fnnews.com Kim Mi-hee Reporter