KOSPI and KOSDAQ Trigger Sell Sidecars Together... KOSPI Falls to the 6,200 Level [Morning Market Update]

[Financial News] KOSPI (Korea Composite Stock Price Index) fell by more than 7% on the 28th, retreating to the 6,200 level.
As of 10:03 a.m. that day, KOSPI was trading at 6,249.372, down 506.38 points, or 7.50%, from the previous session.
KOSPI opened at 6,400.27, down 355.48 points, or 5.26%, from the previous session, and widened its losses.
KOSPI plunged more than 5% right after the market opened, triggering a sell sidecar at around 9:06 a.m. KOSDAQ (Korea Securities Dealers Automated Quotations) also saw deeper losses early in the session, prompting a sell sidecar at around 9:14 a.m.
At around 9:56 a.m. and 9:59 a.m., KOSPI showed an 8% decline, briefly prompting and then lifting a circuit breaker warning.
In the domestic stock market, individual investors bought 1.6744 trillion won worth of shares, while foreigners and institutions sold 1.5303 trillion won and 150.8 billion won worth, respectively.
Among the top 14 stocks by market capitalization, all but Samsung Biologics (0.13%) were in negative territory.
Samsung Electro-Mechanics (-12.98%), SK Square (-11.72%), SK hynix (-10.74%), and Samsung Electronics (-9.35%) posted the steepest declines.
KOSDAQ was trading at 719.01, down 45.85 points, or 5.99%, from the previous session. The index opened at 742.13, down 22.73 points, or 2.97%.
[email protected] Reporter Kim Hyun-jung Reporter