KOSPI plunges intraday 7,442before circuit breakers are triggered
8On the morning of , the KOSPI and KOSDAQ plunged immediately after opening, triggering a circuit breaker in the securities market. The KOSPI traded at 9 as of 39, with foreign investors and institutions recording net purchases and retail investors recording large-scale selling.7,792.56:
8On the morning of , the KOSPI and KOSDAQ indexes plunged immediately after opening. 9As of 39, the KOSPI was trading at 368.03 points, down from the previous trading day, at 7,792.56. Selling pressure was strong early in the session.
The index opened 112.50 points below the previous trading day at 8,048.09. Selling continued immediately after the opening. Volatility increased across the market.
At one point during the session, the KOSPI fell to 7,442.73. This represented an intraday decline of 8.80%. The index recorded a sharp drop.
The Korea Exchange activated a circuit breaker at 9 a.m. 3 minutes in the KOSPI market. Trading was temporarily suspended for 20 minutes. Intraday trading halted following the activation of the circuit breaker.
The sharp drop in U.S. semiconductor stocks and the high exchange rate were cited as external factors behind the stock market's steep decline that day. The KOSPI's 8,000 line and the KOSDAQ's 1,000 line collapsed shortly after the opening. Market participants' sell orders were concentrated.
In the KOSPI market, foreign investors are making net purchases worth 2,038 hundred million won. Institutions are also making net purchases worth 2,511 hundred million won. Buying and selling were mixed.
By contrast, retail investors are making net sales worth 4,801 hundred million won. Retail selling pressured the market in the early part of the session. Samsung Electronics fell below the 30 ten-thousand-won level intraday.
Samsung Electronics fell 6.99% that day. SK hynix fell 4.54%. Losses were particularly large among major semiconductor stocks.
Sources: 파이낸셜뉴스 증권
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