KOSDAQ falls more than 1%, slips below 700; KOSPI also turns lower [fn Afternoon Market]

[Financial News] The KOSDAQ index has fallen more than 1% in afternoon trading, slipping below the 700 mark. Weakness appears to be spreading across the market, with more than 1,200 stocks declining. The KOSPI has also failed to sustain its morning gains and has turned lower.
As of 1:40 p.m. on the 12th, the KOSDAQ index stood at 694.94, down 10.16 points (1.44%) from the previous trading day. The index opened at 703.22, down 1.88 points (0.27%) from the previous trading day. It rose as high as 711.86 during the session before turning lower, briefly sliding to 694.35. It is currently trading near its intraday low.
On the KOSDAQ market, 1,213 stocks are declining, about 2.5 times the 485 advancing stocks, including seven limit-up stocks. The number of unchanged stocks is 62. By sector, general services is down 2.76%, while manufacturing (-1.32%) and construction (-0.94%) are also weak.
At the same time, the KOSPI stood at 5,351.81, down 23.55 points (0.44%) from the previous trading day. The KOSPI opened higher at 5,385.94 and rose as high as 5,458.84 during the session, but gave up its gains and fell to around the 5,350 mark. By market capitalization, mid-cap stocks (-2.11%) and small-cap stocks (-1.46%) have fallen more than large-cap stocks (-0.21%).
Declining stocks on the main board also number 708, far outnumbering the 173 advancing stocks, including one limit-up stock. The number of unchanged stocks is 31.
Large-cap semiconductor stocks are showing mixed performance. Samsung Electronics is trading at 208,500 won, up 1.21% from the previous trading day. SK hynix stood at 1,276,000 won, down 0.08%.

[email protected] Choi Doo-seon Reporter