KOSPI holds above 5,020 on 2.2 trillion won in retail buying [Afternoon Market Report]

According to Financial News, the Korea Composite Stock Price Index (KOSPI) climbed back to the 5,020 level, supported by more than 2.2 trillion won in net buying by retail investors.
As of 2:00 p.m. on the 6th, the KOSPI was trading at 5,022.85, down 140.72 points (2.73%) from the previous session. The index opened at 5,013.15, a drop of 150.42 points (2.91%), and at one point fell to an intraday low of 4,899.30 before trimming some of its losses.
In the KOSPI Market, retail investors and institutions were net buyers of 2.2144 trillion won and 508.6 billion won, respectively. Foreign investors, on the other hand, were net sellers of 2.8909 trillion won.
All industry sectors were in negative territory. Losses were particularly steep in telecommunications (-6.05%), retail (-5.35%), securities (-5.16%), transportation equipment and parts (-4.52%), metals (-3.86%), machinery and equipment (-3.82%), and IT services (-3.66%).
Among large-cap stocks by market capitalization, most names were lower, with only KB Financial Group up 6.81% and Shinhan Financial Group gaining 1.65%. In contrast, Samsung Electronics (-2.26%), SK hynix (-1.54%), Hyundai Motor (-4.81%), LG Energy Solution (-3.16%), Samsung Biologics (-3.53%), and SK Square (-5.43%) were all weaker.
The sharp drop in the KOSPI earlier in the session triggered a temporary suspension of program sell orders, known as a sidecar, which in turn prompted bargain hunting led by retail investors. A sell-side sidecar is activated when KOSPI 200 Index futures fall 5% or more and remain at that level for at least one minute.
At the same time, the KOSDAQ index was trading at 1,066.74, down 41.67 points (3.76%) from the previous session. The index had opened at 1,077.08, a decline of 31.33 points (2.83%) from the day before.
On the KOSDAQ market, retail investors alone were net buyers of 128.6 billion won. Institutions and foreign investors were net sellers of 57.9 billion won and 27.3 billion won, respectively.

yimsh0214@fnnews.com Lim Sang-hyuk Reporter