Hynix's U.S. ADR Plummets 9%, KOSPI Falls Below 7,000
On the 13th, after market close, both Samsung Electronics and SK Hynix dropped sharply, causing KOSPI to fall nearly 9% and lose the 7,000 level. Despite nearly 4 trillion won in net buying by individuals, foreign and institutional selling could not maintain the index.
On the 13th, after market close, both Samsung Electronics and SK Hynix experienced a sharp decline. Retail investors are keeping a close watch on the market on the 14th.
A 30s employee, Mr. A, checked the closing prices of Samsung Electronics and SK Hynix after the market close and said, "I bought when it was cheap yesterday, but if it drops again today, I don't think I can bear it at that time." Some individuals considered the intraday decline as a buying opportunity.
On the 13th, KOSPI fell nearly 9%, dropping below the 7,000 level. On the stock market, sell-side circuit breakers were triggered multiple times.
As a result of the selling sidecar and circuit breaker activation, there were intervals where trading was temporarily halted. Some investors expressed anxiety rather than relief after the market closed.
Individuals net purchased nearly 4 trillion won, but this could not counteract the selling pressure from foreign and institutional investors. This led to increased volatility focused on large-cap stocks.
SK Hynix’s American Depositary Receipts (ADRs) also fell by 9%. Samsung Electronics also showed weakness.
Market participants are monitoring relevant disclosures and market conditions following the opening of the market on the 14th. For the time being, fluctuations in large-cap stocks may lead to changes in investor sentiment.
Sources: 파이낸셜뉴스 증권
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