KOSPI Falls 5% to the 6,200 Range on Foreign and Institutional Selling; KOSDAQ Rises [fn Afternoon Market Update]

[Financial News] KOSPI has fallen to the 6,200 range on heavy selling by foreign investors and institutions, while KOSDAQ is extending its gains.
As of 2:05 p.m. on the 3rd, KOSPI was trading at 6,244.05, down 351.40 points, or 5.33%, from the previous trading day. The index opened at 6,358.27, down 237.18 points, or 3.60%, and widened its losses as the session progressed.
On the Korea Exchange Main Board, foreign investors and institutions are net sellers of 248.9 billion won and 147.76 billion won, respectively. Retail investors, meanwhile, are net buyers of 387.23 billion won.
Among the large-cap stocks, Samsung Electronics and SK hynix are down 8.67% and 8.15%, respectively. SK Square (-3.08%), LG Energy Solution (-3.81%), Samsung Biologics (-4.65%), KB Financial Group (-0.24%), and Samsung Life Insurance (-7.54%) are also weaker. Samsung Electro-Mechanics (2.89%), Hyundai Motor Company (0.90%), and Shinhan Financial Group Co., Ltd. (1.39%) are rising.
Most sectors are declining. Textiles and apparel (-9.57%), electrical and electronics (-7.60%), manufacturing (-6.28%), insurance (-5.91%), and distribution (-5.60) are among the sectors in negative territory. Construction (1.18%), paper and wood (1.07%), and medical and precision equipment (0.82%) are posting gains.
At the same time, KOSDAQ was trading at 738.24, up 18.48 points, or 2.57%, from the previous close. The index opened at 709.99, down 9.77 points, or 1.36%, but later turned higher. As KOSDAQ climbed as much as 32.24 points, or 4.48%, to 752.00 during the session, a Temporary Suspension of Program Buy Order Quotes, known as a buy-side sidecar, was triggered around 10:28 a.m.
On KOSDAQ, institutions and retail investors are buying 163.7 billion won and 36.6 billion won worth of shares, respectively. Foreign investors, by contrast, are selling 207.8 billion won worth.
[email protected] Lim Sang-hyuk Reporter