KOSPI Composite Index closes at 7,643.15 after foreign investors sell 5.6 trillion won, swinging like a roller coaster from 7,999 to 7,421 [fn closing market report]

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\r\n[The Financial News] The KOSPI Composite Index closed in the 7,643 range on the 12th as foreign investors sold heavily. The benchmark briefly rose to the 7,999 level before falling to the 7,421 range, creating a roller-coaster session.
The KOSPI Composite Index ended the session at 7,643.15, down 179.09 points, or 2.29 percent, from the previous trading day. It opened at 7,593.41, up 131.17 points, or 1.68 percent, from the previous close, and climbed as high as 7,999.67 during the day. It then reversed course and at one point fell to 7,421.71, but trimmed losses in the afternoon.
On the Korea Exchange Main Board, individual investors were the only net buyers, purchasing 667.71 billion won. Foreign investors and institutions were net sellers of 660.77 billion won and 121.02 billion won, respectively.
Most sectors fell, with securities (-6.25%), construction (-5.00%), electricity and gas (-3.86%), chemicals (-3.59%), medical and precision equipment (-3.52%), metals (-3.06%), machinery and equipment (-3.02%), finance (-2.99%), and leisure and culture (-2.84%) posting the steepest declines. By contrast, telecommunications (3.64%), transportation and warehousing (0.59%), and pharmaceuticals (0.21%) rose.
Most of the large-cap stocks also finished lower. Samsung Electronics (-2.28%), SK hynix (-2.39%), SK Square (-5.14%), LG Energy Solution (-5.34%), Doosan Enerbility (-1.87%), and Samsung C&T Corporation (-3.76%) all weakened. HD Hyundai Heavy Industries (3.21%) and Samsung Electro-Mechanics (6.44%) were among the gainers.
Some analysts said the recent sharp rally in the KOSPI Composite Index triggered heavy profit-taking. Kang Jin-hyuk, a researcher at Shinhan Investment & Securities, said, "The KOSPI Composite Index approached the 8,000 mark early in the session on strength in semiconductors and automakers, but a sudden wave of selling emerged after 10 a.m." He added, "As concerns grew that prices had overreacted, bargain hunting came in after the sharp intraday drop, helping the index recover part of its losses."
Others argued that remarks by a government official may have fueled foreign selling. Kim Yong-beom, Chief Presidential Secretary for Policy at Cheong Wa Dae, wrote on Facebook the previous day that "some of the gains from the era of AI infrastructure should be returned to all citizens," proposing what he called a Universal Citizen Dividend. Some foreign media interpreted the remarks as a signal of new taxation on semiconductor companies, saying investors sold Korean stocks in response.
The KOSDAQ closed at 1,179.29, down 28.05 points, or 2.32 percent, from the previous session. It opened at 1,214.90, up 7.56 points, or 0.63 percent, from the prior day, before turning lower.
On the KOSDAQ, foreign investors were the only net buyers, purchasing 509.5 billion won. Institutions and individual investors were net sellers of 260 billion won and 220.1 billion won, respectively.
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yimsh0214@fnnews.com Limsanghyuk Reporter