KOSPI 8.95% plunges, Samsung and SK Hynix fall sharply
13The KOSPI plunged by 8.95% and closed at 6,806.93. Samsung Electronics fell 32.0%, and SK Hynix 38.2%. Reports of account losses tied to breaking fixed deposits and margin buying followed one after another.
13The KOSPI plunged by 8.95% and closed at 6,806.93. Some individual investors are taking losses on stocks bought by breaking savings deposits or borrowing money.
According to Korea Exchange data, the index fell by 669.01p from the previous trading day. On this day, the year's 7th circuit breaker was triggered.
Last month on the 19th, compared with the intraday high of 9,385.59 the current index is 27.5% lower.
Samsung Electronics closed at 254,500won.
Compared with last month’s intraday high on 19day of 374,500won, Samsung Electronics is down 32.0%.
SK Hynix closed at 1,845,000won.
Compared with last month’s intraday high on 25day of 2,987,000won, SK Hynix is down 38.2%.
As share prices have fallen quickly from their peaks, the number of individual investors who have prematurely terminated savings deposits and installment savings accounts they had joined to raise large sums for weddings and retirement, among other needs, is increasing.
In some accounts that borrowed to invest, a "blue light" has been turned on, with margin calls and losses occurring.
These figures are all based on 13Friday's closing price and were compiled from Korea Exchange data.
Sources: 파이낸셜뉴스 증권
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