"Black Tuesday" followed by "Black Wednesday"? KOSPI falls below the 6,000 level again [fn morning market report]

[Financial News] KOSPI continued to weaken on the 29th, giving up the 6,000 level again during intraday trading after a sharp drop the previous day.
KOSPI, Samsung Electronics, and SK hynix all turned lower shortly after the market opened, after starting the session higher. Investor sentiment has yet to recover after the circuit breaker was triggered the previous day, with the semiconductor sector leading the index's decline.
As of 10:51 a.m. on the 29th, KOSPI was trading at 5,814.60, down 209.06 points, or 3.47%, from the previous session. It opened at 6,089.11 earlier in the day, but gave up its gains and widened its losses.
On the main bourse, 256 stocks were up and 622 were down, showing a clear tilt toward decliners. Trading value stood at 1.54135 trillion won.
Losses were especially sharp among the leading semiconductor stocks. SK hynix was trading at 1,439,000 won, down 7.16%, while Samsung Electronics was at 214,000 won, down 2.73%. SK hynix has fallen more than 20% over the past two days, driving the index lower.
The KOSDAQ market is faring even worse. At the same time, the KOSDAQ index was down 32.32 points, or 4.58%, at 673.53. During the session, it fell as low as 672.75, setting a new 52-week low.
Investor sentiment in the KOSDAQ market has weakened sharply, with 279 stocks advancing and 1,400 declining. Trading value was tallied at 255.93 billion won.
A securities industry official said, "As the shock from KOSPI's more than 10% plunge the previous day continues, foreign investors' semiconductor selling, liquidation in leveraged products, and risk-off sentiment are combining to amplify volatility."


[email protected] Choi Du-seon Reporter