Market tumbles, triggering even a sell-sidecar... KOSPI plunges more than 5% as Samsung Electronics and SK Hynix falter [Roundup]

[Financial News] The KOSPI is falling for a fifth consecutive trading day, with the 6,000 mark threatened intraday. Losses widened even after a sell-sidecar was triggered, and foreign investors’ net selling topped 1.2 trillion won during the morning session alone. With Samsung Electronics and SK Hynix down nearly 6% and 8%, respectively, the KOSDAQ is also trading lower by more than 3%.
At around 10 a.m. on the 13th, the KOSPI stood at 6,048.82, down 335.42 points (5.25%) from the previous trading day. After opening at 6,186.08, down 3.10% from the previous trading day, the index fell as low as 6,040.24 intraday, extending its losses.
Earlier, at 9:47 a.m., the Korea Exchange triggered a sell-sidecar on the main board, temporarily suspending the effectiveness of program sell orders. It was the 50th sidecar triggered on the KOSPI market this year and the 26th in the sell direction.
A sell-sidecar is triggered when the KOSPI 200 futures price falls at least 5% from the previous trading day and remains at that level for one minute; it suspends the effectiveness of program sell orders for five minutes. The KOSPI fell further, from 6,075.06 at 9:52 a.m. to 6,036.73 at around 10:08 a.m.
The KOSPI has fallen for five consecutive trading days since the 6th. It dropped 0.89% on the 6th, 1.98% on the 7th, 2.62% on the 8th and 3.65% on the 12th; today, its intraday decline has exceeded 5%.
Foreign investors’ selling also grew. As of 10:02 a.m., they had net-sold shares worth 1.2097 trillion won on the main board. Retail investors and institutions were net buyers of 741.5 billion won and 354.1 billion won, respectively. Among institutional investors, financial investment firms net-bought 410.3 billion won, while pension funds and others net-sold 37.4 billion won.
The losses in large-cap semiconductor stocks exceeded the index’s decline. At this time, Samsung Electronics was trading at 235,500 won, down 5.99% from the previous trading day. SK Hynix stood at 1,481,000 won, down 7.73%. Both stocks have fallen for five consecutive trading days.
The electrical and electronics sector fell 6.46%, while manufacturing (-5.87%), machinery and equipment (-5.32%), and transportation equipment and parts (-4.59%) also posted steep declines. Financials (-3.91%), chemicals (-3.84%), metals (-3.81%) and securities (-3.18%) were also weak.
The KOSDAQ index stood at 819.05, down 30.14 points (3.55%) from the previous trading day. It fell as low as 815.80 intraday. After plunging 4.83% the previous day, it continued to decline today.
Commenting on the weakness in large-cap semiconductor stocks, Yang Hyun-kyung, an analyst at iM Securities, said, “Concerns over financing and profitability for AI infrastructure investment, China’s CXMT catching up technologically, and supply-demand pressures from foreign selling have all combined.” He added, “There is room for an intraday rebound following the previous day’s sharp drop, but the rebound in large-cap semiconductor stocks is expected to be limited.”

[email protected] Choi Doo-sun Reporter