Retail investors 1 trillion 5,000billion sell-off sends the KOSPI swinging intraday, while the KOSDAQ 800recovers
7Month 9day, individual investors sold 1 trillion 5,000billion won worth of shares, sending the KOSPI lower intraday before index defense was achieved through the deployment of a presumed 'pension force' from institutions and securities firms. On the same day, the KOSPI regained the 7,500level on strength in SK hynix, while the KOSDAQ recovered the 800level in a single day, led by semiconductor equipment and materials stocks.
The KOSPI showed high volatility immediately after the opening on 7Month 9day. Individual investors sold 1 trillion 5,000billion won worth of shares, causing an intraday shift lower, while a presumed 'pension force' from institutions and securities firms was deployed to defend the index.
The session opened at 7,486.64points, up 239.85points (3.31%) from the previous day. However, reports said that selling pressure caused a shift lower during the session.
With SK hynix's performance in the U.S. market reported to be favorable, the KOSPI reclaimed the 7,500level. Meanwhile, some sectors posted mixed movements.
The KOSDAQ, following the previous day's 700sharp plunge, recovered the line in just one day. 800In particular, semiconductor materials, parts and equipment stocks led the rise, showing strength.
On the previous day, 7the month of 8the day, the index plunged, prompting some to describe it as being "on the scale of the Lehman crisis," while external factors, including variables stemming from Iran, were reported to have affected the index.
By type of market participant, individuals made heavy net sales, while a flow believed to reflect buying by institutions and securities firm affiliates was detected. The index repeatedly rose and fell until the market closed.