KOSPI’s 6,400 level also under threat amid foreign selling; KOSDAQ down in the 4% range [fn afternoon market]

[Financial News] KOSPI plunged nearly 3% amid heavy net selling by foreign investors, falling to the low 6,400s intraday. KOSDAQ also dropped more than 4% and appeared unable to escape the downturn.
According to the Korea Exchange, as of 2:15 p.m. on the 12th, KOSPI stood at 6,424.42, down 201.51 points (3.04%) from the previous trading day. The index opened at 6,578.17, down 0.72% from the previous day, and fell to the 6,410s intraday. KOSPI has been on a downward trend for four consecutive trading days since the 6th.
By investor group, foreign investors were net sellers of 1.4662 trillion won. They have been net sellers for five consecutive trading days, from the 2nd through today.
Institutional investors were also net sellers of 55.3 billion won. Individual investors alone were net buyers, at 904.1 billion won.
Among the top stocks by market capitalization, Samsung Electronics was trading at 252,000 won, down 3.72% from the previous trading day. SK Hynix was trading at 1,625,000 won, down 3.27%. Semiconductor stocks were weak, while concerns were also raised about investment in global AI infrastructure.
At the same time, the KOSDAQ index stood at 855.74, down 4.07% from the previous trading day.
Foreign and institutional investors were both selling on the KOSDAQ market. They were net sellers of 98.4 billion won and 155.6 billion won, respectively. Individual investors, by contrast, were net buyers of 259.1 billion won.
Among the top stocks by market capitalization, Alteogen was trading at 233,000 won, down 3.32% from the previous trading day. Jusung Engineering was also trading at 255,000 won, down 4.67%.
Kang Jin-hyuk, a researcher at Shinhan Securities, said, “Amid the effects on supply and demand of the options expiration and ETF rebalancing on the 8th, a break below the lower end of the trend, and external headwinds, disappointed sellers are coming to market.” He added, “Despite strong exports, large-cap stocks are declining more sharply in tandem as investors react sensitively to AI sentiment headwinds, including a shortfall in OpenAI’s estimated annualized revenue.”
[email protected] Joo Won-gyu Reporter