KOSPI falls more than 5% again intraday; foreign investors net-sell 3.3 trillion won [FN Afternoon Market]

[Financial News] The KOSPI briefly reclaimed the 5,500 mark in the morning, but widened its losses again in the afternoon, slipping below 5,400. Foreign investors’ net selling exceeded 3.3 trillion won, and a sell-sidecar was triggered in the KOSDAQ market in the afternoon.
According to the Korea Exchange, at around 2:37 p.m. on the 5th, the KOSPI was trading at 5,391.04, down 292.76 points (5.15%) from the previous trading day. The index opened at 5,580.09 and fell as low as 5,386.29 in the morning. At around 10:16 a.m., a sell-sidecar was triggered on the main board as KOSPI 200 futures prices plunged. The index later reduced its losses, reaching 5,514.69 at around 11:21 a.m., but has fallen more than 5% again in the afternoon.
Foreign investors were net sellers of 3.3095 trillion won on the main board. That was an increase of 1.6011 trillion won from the 1.7084 trillion won in net selling recorded at around 11:20 a.m. Individual and institutional investors were net buyers of 2.4214 trillion won and 674.7 billion won, respectively.
Based on consolidated price data, Samsung Electronics was trading at 201,500 won, down 16,500 won (7.57%) from the previous trading day. SK hynix stood at 1,263,000 won, down 133,000 won (9.53%). Samsung Electro-Mechanics (-14.44%) and SK Square (-10.57%) also posted double-digit declines. By contrast, Celltrion (7.50%), Kia (4.70%) and KB Financial Group (3.43%) were rising.
By sector, medical and precision instruments (-11.20%), electrical and electronics (-8.63%), and machinery and equipment (-5.48%) were among the weakest. Pharmaceuticals (4.22%), Food, Beverage & Tobacco (2.67%), and telecommunications (2.43%) were among the strongest.
As of 2:37 p.m., the KOSDAQ was trading at 679.95, down 35.00 points (4.90%) from the previous trading day. Individual investors were net buyers of 239 billion won, while foreign and institutional investors were net sellers of 199.2 billion won and 47.8 billion won, respectively.
The Korea Exchange triggered a sell-sidecar in the KOSDAQ market at 2:27 p.m. that day. At the time, KOSDAQ 150 futures and the KOSDAQ 150 index were down 6.07% and 5.43%, respectively, from the previous trading day. As a result, the effectiveness of sell orders in program trading was suspended for five minutes. This was the 16th sell-sidecar triggered in the KOSDAQ market this year.
[email protected] Lee Jeong-hwa Reporter