KOSPI plunges on Middle East risks... Foreign investors sell 3.7 trillion won [fn afternoon market]

[Financial News] KOSPI (Korea Composite Stock Price Index) is falling more than 4% as global investor sentiment weakens amid escalating tensions in the Middle East.
As of 2:30 p.m. on the 24th, KOSPI was trading at 6,736.37, down 360.52 points, or 5.08%, from the previous session, according to the Korea Exchange.
On the Korea Exchange Main Board, individual investors were net buyers of 5.4403 trillion won, while foreign investors and institutions were net sellers of 3.8119 trillion won and 1.6574 trillion won, respectively.
By sector, pharmaceuticals rose 6.61%, telecommunications 2.65%, and food and tobacco 1.61%, while electrical and electronic equipment fell 6.67%, manufacturing 5.54%, and medical and precision instruments 5.13%.
Among the largest-cap stocks, Samsung Biologics rose 9.64%, Hanwha Aerospace gained 3.55%, and Celltrion advanced 2.50%. In contrast, SK Square fell 8.03%, Kia dropped 8.08%, and Hyundai Motor Company declined 7.99%.
Major semiconductor stocks were also under pressure. Samsung Electronics was trading at 253,500 won, down 6.11% from the previous day, while SK hynix was down 5.63% at 1,811,000 won.
The sharp losses in large-cap stocks triggered a sell-side sidecar on KOSPI during the morning session. The Korea Exchange activated the measure at 11:23:49 a.m. on the 24th.
The exchange suspends program-trading buy or sell orders for five minutes if the price of the most heavily traded KOSPI 200 Index futures contract from the previous session rises or falls by at least 5% and stays there for one minute.
At the time the sell-side sidecar was triggered, KOSPI 200 Index futures were down 5.04%, or 56.88 points, from the previous close at 1,070.80.
At the same time, KOSDAQ (Korea Securities Dealers Automated Quotations) was trading at 755.48, down 24.80 points, or 4.40%, from the previous day. Individual investors bought 502.6 billion won, while foreign investors and institutions sold 198.9 billion won and 304.3 billion won, respectively.
Kang Jin-hyuk, a researcher at Shinhan Investment Corp., explained, "Geopolitical tensions have intensified due to attacks on Red Sea oil pipelines and remarks by U.S. President Donald Trump that he is considering large-scale strikes." He added, "Foreign investors turned net sellers of KOSPI spot shares for the first time in four trading days."

[email protected] Baek Han-geul Reporter